Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 8

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 1
Chunk 8
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 scrutiny from relevant PRC authorities for our listing; or any law, regulation, rules and policies will become effective
and enforceable while we are listing on The Nasdaq Capital Market or Nasdaq and seeking a target for the initial business combination
that could substantially affect our operation and the value of our securities may depreciate quickly or even become worthless. See “Part
I - Item 1.- Permission Required from the PRC Authorities for a Business Combination and Relevant PRC Regulations” on page 5. Though
we will not undertake our initial business combination with any entity that conducts a majority of its business or is headquartered in
China (including Hong Kong and Macau), we are subject to risks and uncertainties about future actions of the PRC government or law enforcement
to refrain our activities or operation due to the significant ties to China of our sponsor, officers and directors, which could limit
our search for a target business and that can cause the value of our securities to significantly decline or become worthless. See “Part
I - Item 1A. Risk Factors - Even though we are not a China-based issuer, the sponsor and some our officers and directors have significant
ties to China. The Chinese government may exercise significant oversight and discretion over the conduct of our business and may intervene
in or influence its operations at any time, which could result in a material change in its operations and/or the value of our securities.
We are also currently not required to obtain approval from Chinese authorities to list on U.S. exchanges, however, if the relevant PRC
government agencies decide that we were required to obtain approval and we were denied permission from Chinese authorities to list on
U.S. exchanges, we will not be able to continue listing on a U.S. exchange, which would materially affect the interest of our investors.”
on page 12 of this Annual Report.

3

Pending
Business Combination Agreement

On
June 26, 2024, we entered into a Business Combination Agreement (the “Agreement”) with Infintium Fuel Cell Systems, Inc.,
a Delaware corporation (the “Company”), Pacifica Acquisition Corp., a Delaware corporation (“Merger Sub”) and
wholly-owned subsidiary of Goldenstone, and Yan (Chris) Feng, solely in his capacity as representative, agent and attorney-in-fact of
the Infintium Securityholders (the “Securityholder Representative,” and, together with Infintium, Goldenstone and Merger
Sub, the “Parties”), pursuant to which Merger Sub will merge