Company: GDSTR
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112608
Chunk: 33

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-11-19
Form: 10-Q
Item: Item 1
Chunk 33
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 442,996  
    $5,577,204 

NOTE 5 — PRIVATE PLACEMENT

Simultaneously with the closing of the Initial
Public Offering, the Company completed the private sale of 351,250 units (the “Private Units”) to the Sponsor, Ray Chen, our
former Chief Financial Officer, and Yongsheng Liu, our former Chief Operating Officer, each through their respective affiliated entities.
Each Private Unit consists of one share of common stock, one warrant (“Private Warrant”) and one right (each, a “Private
Right”). Each Private Warrant entitles the holder to purchase one-half of one share of common stock at an exercise price of $11.50
per whole share. Each Private Right entitles the holder to receive one-tenth of one share of common stock at the closing of a Business
Combination. The Private Units were sold at a purchase price of $10.00 per Private Unit, generating gross proceeds to the Company of $3,512,500.
The Private Units are identical to the Public Units sold in the Initial Public Offering, except that the holders of the Private Units
have agreed not to transfer, assign or sell any of the Private Units and the underlying securities (except to certain permitted transferees)
until the completion of the Company’s initial Business Combination.

17

NOTE 6 — RELATED PARTY TRANSACTIONS

Insider Shares

On March 23, 2021, the Company issued 1,437,500
shares of the Company’s common stock (the “Insider Shares”), for an aggregate purchase price of $25,874, or approximately
$0.018 per share.

As of September 30, 2025 and March 31, 2025, there
were 1,437,500 Insider Shares issued and outstanding.

The initial stockholders have agreed not to transfer,
assign or sell any of the Insider Shares (except to certain permitted transferees) until the earlier of 180 days after the completion
of our initial business combination or the date on which we complete a liquidation, merger, stock exchange or other similar transactions
after our initial business combination that results in all of our public stockholders having the right to exchange their shares of common
stock for cash, securities or other property.

Working Capital and Extension Loans

In addition, in order to finance transaction costs
in connection with searching for a target business or consummating an intended initial business combination, the initial stockholders,
officers