Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 107

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 1
Chunk 107
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 to consummate a business combination up to nine (9) times, each such extension
for an additional one month period, from September 21, 2023 to June 21, 2024, and must deposit into the Trust Account in the sum of $100,000
for each one month extended. On June 18, 2024, the Company’s stockholders approved a second amendment to the Company’s Amended
and Restated Certificate of Incorporation to extend the date by which the Company has to consummate a business combination up to twelve
(12) times, each such extension for an additional one month period, from June 21, 2024 to June 21, 2025, and must deposit into the Trust
Account in the sum of $50,000 for each one month extended. Any such payments would be made in the form of a loan. Any such loans will
be non-interest bearing and payable upon the consummation of its initial Business Combination. If the Company completes its initial Business
Combination, the Company would either repay such loaned amounts out of the proceeds of the Trust Account released to the Company, or
up to $1,725,000 of such loans may be convertible into private units at a price of $10.00 per unit at the option of the lender.

F-18

As
of March 31, 2025 and 2024, the Company had $2,976,966 and $1,791,000, respectively, of borrowings under the working capital and extension
loans.

Administrative
Services Agreement and Service Fees

The
Company is obligated, commencing from the closing of the Initial Public Offering and for 12 months, to pay the sponsor’s affiliate
and officers of the Company, a monthly fee of $25,000 for general and administrative services including office space, utilities, secretarial
support and officers’ services to the Company. The Administrative Services Agreement and the service fees to be paid to the officers
will terminate upon completion of the Company’s Business Combination or the liquidation of the Trust Account to public stockholders.
Such administrative services agreement and services fees was ended on March 31, 2023. As both of March 31, 2025 and 2024, the balance
due to the officers of the Company for general and administrative services amounted to $25,000.

Representative
Shares

The
Company issued 57,500 shares of Common Stock (the “