Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 104

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 1
Chunk 104
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 contain a redemption feature which allows
for the redemption of such public shares if there is a stockholder vote or tender offer in connection with the Business Combination and
in connection with certain amendments to the Company’s amended and restated certificate of incorporation, or in connection with
the Company’s liquidation. In accordance with the Securities and Exchange Commission (the “SEC”) and its staff’s
guidance on redeemable equity instruments, which has been codified in ASC 480-10-S99, redemption provisions not solely within the control
of the Company require Common Stock subject to redemption to be classified outside of permanent equity.

The
Company’s redeemable Common Stock is subject to SEC and its staff’s guidance on redeemable equity instruments, which has
been codified in ASC 480-10-S99. If it is probable that the equity instrument will become redeemable, the Company has the option to either
accrete changes in the redemption value over the period from the date of issuance (or from the date that it becomes probable that the
instrument will become redeemable, if later) to the earliest redemption date of the instrument or to recognize changes in the redemption
value immediately as they occur and adjust the carrying amount of the instrument to equal the redemption value at the end of each reporting
period. The Company has elected to recognize the changes over the period from the date of issuance to the earliest redemption date of
the instrument of twelve months. The accretion or remeasurement is treated as a deemed dividend (i.e., a reduction to retained earnings,
or in absence of retained earnings, additional paid-in capital). Interest earned on investment held in Trust Account, net of applicable
taxes, and the extension payments made by the Company are subject to subsequent accretion of carrying value to redemption value.

As
of March 31, 2025 and 2024, the common stock subject to possible redemption reflected on the balance sheet is reconciled in the following
table:

    Common
    stock subject to possible redemption, March 31, 2023 
    $59,544,769 
  
    Redemption
    of common stock 
     (8,157,801)
  
    Plus: 

    Subsequent
    accretion of carrying value to redemption value 
     4,039,650 
  
    Common
    stock subject to possible redemption, March 31, 2024 
     55,426,618 
  
    Redemption
    of common stock