Company: GDSTR
Filing Date: 2025-06-16
Form Type: 10-K
Source: 0001213900-25-054825
Chunk: 149

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-16
Form: 10-K
Item: Item 1A
Chunk 149
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In
December 2023, the FASB issued Accounting Standards Update No. 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”
(“ASU 2023-09”), which modifies the rules on income tax disclosures to require entities to disclose (1) specific categories
in the rate reconciliation, (2) the income or loss from continuing operations before income tax expense or benefit (separated between
domestic and foreign) and (3) income tax expense or benefit from continuing operations (separated by federal, state and foreign). ASU 2023-09 also
requires entities to disclose their income tax payments to international, federal, state and local jurisdictions, among other changes.
The guidance is effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements
that have not yet been issued or made available for issuance. ASU 2023-09 should be applied on a prospective basis, but
retrospective application is permitted. The Company is currently evaluating the potential impact of adopting this new guidance on the
Company’s consolidated financial statements and related disclosures.

Management does not believe that any other recently issued,
but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on our consolidated financial statements.

Off-Balance
Sheet Arrangements; Commitments and Contractual Obligations

Registration
Rights

Pursuant
to a registration rights agreement entered into on September 10, 2021, the holders of the founder shares, the private placement units
and private placement units that may be issued upon conversion of working capital loans will be entitled to registration rights pursuant
to a registration rights agreement to be signed prior to or on the closing date of this offering requiring us to register such securities
for resale. The holders of these securities are entitled to make up to three demands, excluding short form demands, that we register
such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements
filed subsequent to the completion of our initial business combination. We will bear the expenses incurred in connection with the filing
of any such registration statements.

Underwriting
Agreement

We
sold to the underwriters, $100, a Unit Purchase Option (“UPO”) to purchase 270,250 Units exercisable at $11.00 per Unit,
an aggregate exercise price of $2,972,750,