Company: GDSTR
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112608
Chunk: 152

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 2
Chunk 152
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 ended September 30, 2024, we
generated a net income of $81,219, which consisted of interest income on the trust account of $925,418, offset by formation and operating
costs of $629,217, franchise tax expense of $26,132 and income taxes provision of $188,850. 

Liquidity and Going Concern

As of September 30, 2025, we had $371,603 in cash
in our operating account as compared to cash of $14,692 at March 31, 2025 and working capital deficit of $5,290,212 as compared to $4,217,347
at March 31, 2025. The change in liquidity is attributable to cash used in operating activities of $92,485, cash used in financing activities
of $13,185,111, and partially offset by cash provided by investing activities of $13,634,507.

For the six months ended September 30, 2025, there
was $92,485 of cash used in operating activities resulting from interest income earned on investment held in Trust Account amounting to
$249,107, net loss of $415,416, and non-cash deferred tax benefit of $10,223, and partially offset by the decrease in prepaid expenses
of $2,226, the decrease in prepaid income taxes of $264,937, the decrease in prepaid franchise taxes of $21,000, and the increase in accrued
expenses of $294,098.

For the six months ended September 30, 2024, there
was $1,067,424 of cash used in operating activities resulting from interest income earned on investment held in Trust Account amounting
to $925,418, and non-cash deferred tax benefit of $35,347, increase in prepaid expenses of $43,956, decrease in income tax payable of
$358,882, and offset by net income of $81,219, increase in accrued expenses of $188,828, and increase in franchise tax payable of $26,132.

For the six months September 30, 2025, there was
$13,634,507 of cash provided by investing activities resulting from the withdrawal of an investment held in the Trust Account for payment
to redeeming stockholders of $13,510,111, the withdrawal of an investment held in the Trust Account amounting to $324,396, offset by the
purchase