Company: GDSTR
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112608
Chunk: 128

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 8
Chunk 128
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, such as depreciation, amortization, and depletion expense, to be disclosed
under certain circumstances. The amendments in ASU 2023-07 also do not change how a public entity identifies its operating segments, aggregates
those operating segments, or applies the quantitative thresholds to determine its reportable segments. The amendments in ASU 2023-07 are
effective for years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, adopted
retrospectively. We adopted ASU 2023-07 for the year ended March 31, 2025 and provided
the requiring disclosure in the accompanying notes to the unaudited condensed consolidated financial statements.

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. We adopted this new guidance on April 1, 2025, and it did not have any impact on our unaudited
condensed consolidated financial statements and related disclosures. We will provide the additional required disclosures in the year ended
March 31, 2026 consolidated financial statements.

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 unaudited condensed
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