Company: GDSTR
Filing Date: 2025-08-20
Form Type: 10-Q
Source: 0001213900-25-078650
Chunk: 98

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-08-20
Form: 10-Q
Item: Item 8
Chunk 98
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ited condensed balance sheets are reconciled in the following table:

    Shares  
    Amount 
  
    Common stock subject to possible redemption, March 31, 2024 
     4,991,461  
    $55,426,618 
  
    Redemption of common stock 
     (3,395,590) 
     (38,044,345)
  
    Plus: 

    Subsequent accretion of carrying value to redemption value 
        
     1,625,328 
  
    Common stock subject to possible redemption, March 31, 2025 
     1,595,871  
     19,007,601 
  
    Payables due to redeeming stockholders 
     (1,152,975) 
     (13,893,689)
  
    Plus: 

    Subsequent accretion of carrying value to redemption value 
        
     293,996 
  
    Common stock subject to possible redemption, June 30, 2025 
     442,996  
    $5,407,908 

NOTE 5 — PRIVATE PLACEMENT

Simultaneously with the closing of the Initial
Public Offering, the Company completed the private sale of 351,250 units (the “Private Units”) to the Sponsor, Ray Chen, our
former Chief Financial Officer, and Yongsheng Liu, our former Chief Operating Officer, each through their respective affiliated entities.
Each Private Unit consists of one share of common stock, one warrant (“Private Warrant”) and one right (each, a “Private
Right”). Each Private Warrant entitles the holder to purchase one-half of one share of common stock at an exercise price of $11.50
per whole share. Each Private Right entitles the holder to receive one-tenth of one share of common stock at the closing of a Business
Combination. The Private Units were sold at a purchase price of $10.00 per Private Unit, generating gross proceeds to the Company of $3,512,500.
The Private Units are identical to the Public Units sold in the Initial Public Offering, except that the holders of the Private Units
have agreed not to transfer, assign or sell any of the Private Units and the underlying securities (except to certain permitted transferees)
until the completion of the Company’s initial Business Combination.

17

NOTE 6 — RELATED PARTY TRANSACTIONS

Insider Shares

On March 23