Company: GDSTR
Filing Date: 2025-08-20
Form Type: 10-Q
Source: 0001213900-25-078650
Chunk: 29

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-08-20
Form: 10-Q
Item: Item 1
Chunk 29
---
 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
unaudited condensed consolidated financial statements and related disclosures.

Management does not believe that any other recently
issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s unaudited condensed
consolidated financial statements. 

NOTE 3 — CASH AND INVESTMENTS HELD IN TRUST ACCOUNT

As of June 30, 2025 and March 31, 2025, assets
held in the Trust Account were comprised of $19,013,705 and $18,666,931, respectively, in cash and money market funds which are invested
in U.S. Treasury Securities.

The following table presents information about
the Company’s assets that are measured at fair value on a recurring basis at June 30, 2025 and March 31, 2025 and indicates the
fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:

    Description 
    Level 
    June 30, 2025  
    March 31, 2025 
  
    Assets: 

    Trust Account - U.S. Treasury Securities Money Market Fund 
    1 
    $19,013,705  
    $18,666,931 

16

NOTE 4 — INITIAL PUBLIC OFFERING

On March 21, 2022, the Company closed its Initial
Public Offering of 5,750,000 units, which includes the full exercise of the underwriters’ over-allotment option. The units were
sold at a price of $10.00 per unit, resulting in total gross proceeds of $57,500,000. Each unit consists of one share of common stock,
one redeemable warrant and one right to receive one-tenth (1/10) of one share of common stock. Each redeemable warrant entitles the holder
thereof to purchase one-half (1/2) of one share of common stock, and each ten (10) rights entitle the holder thereof to receive one share
of common stock at the closing of