Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 217

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 217
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 percent; the balance of the loan as of December 31, 2021 was this same amount. During 2022, we received an additional loan from such related party entity in the amount of $4,556,604 and an interest rate of zero percent, for a total outstanding amount of $6,141,510 as of December 31, 2022. On December 31, 2023, we and the five investors entered into loan conversion agreements, whereby the entire amount of the loan of $6,141,510 was converted into shares of common stock at a price per share of $0.8057 for an aggregate number of shares of 7,622,470. Upon conversion, the note is deemed to be repaid in full and we have no further obligation in connection with this loan to the entity or the five individual investors; as of December 31, 2023, the balance of the related party loan payable is zero. In April 2022, we entered into a promissory note with the same related party entity and shareholder A, with proceeds to us in April 2022 and July 2022 of $250,000 and $200,000, respectively, and an interest rate of zero percent. We repaid the entire note in the amount of $450,000 in December 2022 and as of December 31, 2022, the balance of the related party loan payable was zero. In February 2023, we entered into a promissory note with the same related party entity and shareholder A, with proceeds to us of $400,000 and an interest rate of zero percent. In March 2023, we made a principal payment of $200,000 and as of September 30, 2024 and December 31, 2023, the balance of the related party loan payable is $200,000 as of both dates. In December 2023, we entered into a promissory note with an individual related party shareholder B, with proceeds to us of $1,392,937 and an interest rate of zero percent. In December 2023, we and the individual related party shareholder entered into a loan conversion agreement, whereby the entire amount of the loan was converted into shares of common stock at a price per share of $0.8057 for an aggregate number of shares of 1,728,829. Upon conversion, the note is deemed to be repaid in full and we have no further obligation in connection with