Company: GDSTR
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112608
Chunk: 105

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 8
Chunk 105
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 utilities, secretarial support and officers’ services
to the Company. The Administrative Services Agreement and the service fees to be paid to the officers will terminate upon completion of
the Company’s Business Combination or the liquidation of the Trust Account to public stockholders. Such administrative services
agreement and services fees were ended on March 31, 2023. As both of September 30, 2025 and March 31, 2025, the balance due
to the officers of the Company for general and administrative services amounted to $25,000.

Representative Shares

The Company issued 57,500 shares of Common Stock
(the “Representative Shares”) to Maxim as part of representative compensation. The Representative Shares are identical to
the Common Stock sold as part of the Public Units, except that Maxim Group LLC has agreed not to transfer, assign or sell any such representative
shares until the completion of the Company’s initial Business Combination. In addition, Maxim Group LLC has agreed (i) to waive
its redemption rights with respect to such shares in connection with the completion of the Company’s initial Business Combination
and (ii) to waive its rights to liquidating distributions from the Trust Account with respect to such shares if the Company fails to complete
its initial Business Combination within 12 months (or up to 21 months if the Company extends the period of time to consummate a Business
Combination) from the effective date of its registration statement. The shares have been deemed compensation by FINRA and are therefore
subject to a lock-up for a period of 180 days immediately following the commencement of sales of the offering pursuant to Rule 5110(e)(1)
of FINRA’s Rules. The lock-up period has expired.

NOTE 7 — COMMITMENTS & CONTINGENCIES

Risks and Uncertainties

As a result of the military action commenced in
February 2022 by the Russian Federation and Belarus in the country of Ukraine and related economic sanctions, and conflict between Isreal
and Hamas, the Company’s ability to consummate a Business Combination, or the operations of a target business with which the Company
ultimately consummates a Business Combination, may be materially and adversely affected. In addition, the Company’s ability to consummate
a transaction may be dependent on the ability to raise equity and debt financing which may be impacted by these events, including as a
result of increased market volatility, or decreased market liquidity in third-party financing being unavailable on terms acceptable to
the Company or at all. The