10-Q Filing

GOLDENSTONE ACQUISITION LTD. CIK: 1858007 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001213900-23-066369`
Period End Date	20230630
Filing Date	20230814
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	f10q0623_goldenstone_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 22 Cash Flow Statement 38 Stockholders Equity 13

Balance Sheet 60 line items

Line Item	Tag	Value	Unit	Period
Common stock subject to possible redemption shares	`TemporaryEquitySharesIssued`	5.75M	shares	Point-in-time
Common stock subject to possible redemption shares	`TemporaryEquitySharesIssued`	5.75M	shares	Point-in-time
Common stock subject to possible redemption shares, per share (in Dollars per share)	`TemporaryEquityParOrStatedValuePerShare`	$10.46	USD	Point-in-time
Cash	`Cash`	$265.75K	USD	Point-in-time
Common stock subject to possible redemption shares, per share (in Dollars per share)	`TemporaryEquityParOrStatedValuePerShare`	$10.65	USD	Point-in-time
Cash	`Cash`	$10.76K	USD	Point-in-time
Dividend receivable	`ReceivablesNetCurrent`	$228.90K	USD	Point-in-time
Dividend receivable	`ReceivablesNetCurrent`	$248.83K	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	15.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$52.50K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$35.00K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	15.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.85M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$292.17K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	1.85M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$549.58K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.85M	shares	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$61.17M	USD	Point-in-time
Investments held in Trust Account	`AssetsHeldInTrustNoncurrent`	$60.16M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	1.85M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$60.45M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$61.72M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$261.07K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$204.88K	USD	Point-in-time
Working capital and extension loans - related party	`WorkingCapitalLoanRelatedParty`	$1.02M	USD	Point-in-time
Working capital and extension loans - related party	`WorkingCapitalLoanRelatedParty`	$320.00K	USD	Point-in-time
Due to related parties	`DueToRelatedParties`	$25.00K	USD	Point-in-time
Due to related parties	`DueToRelatedParties`	$90.00K	USD	Point-in-time
Business combination deposits	`DepositLiabilityCurrent`	$125.00K	USD	Point-in-time
Business combination deposits	`DepositLiabilityCurrent`	$125.00K	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$395.79K	USD	Point-in-time
Income tax payable	`TaxesPayableCurrent`	$253.43K	USD	Point-in-time
Franchise tax payable	`FranchiseTaxPayable`	$12.00K	USD	Point-in-time
Franchise tax payable	`FranchiseTaxPayable`	$24.40K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.92M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$940.31K	USD	Point-in-time
Deferred tax liability	`DerivativeLiabilitiesNoncurrent`	$52.25K	USD	Point-in-time
Deferred tax liability	`DerivativeLiabilitiesNoncurrent`	$48.07K	USD	Point-in-time
Deferred underwriting discounts and commissions	`DeferredCompensationLiabilityClassifiedNoncurrent`	$2.01M	USD	Point-in-time
Deferred underwriting discounts and commissions	`DeferredCompensationLiabilityClassifiedNoncurrent`	$2.01M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.98M	USD	Point-in-time
TOTAL LIABILITIES	`Liabilities`	$3.00M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock subject to possible redemption, 5,750,000 shares at redemption value of $10.65 and $10.46 per share as of June 30, 2023 and March 31, 2023, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$61.25M	USD	Point-in-time
Common stock subject to possible redemption, 5,750,000 shares at redemption value of $10.65 and $10.46 per share as of June 30, 2023 and March 31, 2023, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$59.54M	USD	Point-in-time
Common stock, $0.0001 par value, 15,000,000 shares authorized, 1,846,250 shares issued and outstanding as of June 30, 2023 and March 31, 2023	`CommonStockValue`	$185.00	USD	Point-in-time
Common stock, $0.0001 par value, 15,000,000 shares authorized, 1,846,250 shares issued and outstanding as of June 30, 2023 and March 31, 2023	`CommonStockValue`	$185.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-2.10M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-3.51M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-3.51M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$9.03M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$6.38M	USD	Point-in-time
Total stockholders deficit	`StockholdersEquity`	$-2.10M	USD	Point-in-time
TOTAL LIABILITIES, TEMPORARY EQUITY, AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$61.72M	USD	Point-in-time
TOTAL LIABILITIES, TEMPORARY EQUITY, AND STOCKHOLDERS DEFICIT	`LiabilitiesAndStockholdersEquity`	$60.45M	USD	Point-in-time

Income Statement 22 line items

Line Item	Tag	Value	Unit	Period
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.75M	shares	1 Quarter
Formation and operating costs	`OperatingCostsAndExpenses`	$262.12K	USD	1 Quarter
Formation and operating costs	`OperatingCostsAndExpenses`	$326.79K	USD	1 Quarter
Diluted weighted average shares outstanding	`WeightedAverageNumberOfDilutedSharesOutstanding`	5.75M	shares	1 Quarter
Franchise tax expenses	`FranchisorCosts`	$2.00K	USD	1 Quarter
Diluted net income per share	`EarningsPerShareDiluted`	$0.11	USD	1 Quarter
Diluted net income per share	`EarningsPerShareDiluted`	$0.07	USD	1 Quarter
Franchise tax expenses	`FranchisorCosts`	$12.40K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-274.52K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-328.79K	USD	1 Quarter
Interest earned on investment held in Trust Account	`InvestmentIncomeInterest`	$81.46K	USD	1 Quarter
Interest earned on investment held in Trust Account	`InvestmentIncomeInterest`	$710.26K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$435.74K	USD	1 Quarter
Income (loss) before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-247.33K	USD	1 Quarter
Income taxes provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income taxes provision	`IncomeTaxExpenseBenefit`	$146.55K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-247.33K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$289.19K	USD	1 Quarter
Basic and diluted weighted average shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.75M	shares	1 Quarter
Basic and diluted weighted average shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	5.75M	shares	1 Quarter
Basic and diluted net income per share (in Dollars per share)	`EarningsPerShareBasic`	$0.07	USD	1 Quarter
Basic and diluted net income per share (in Dollars per share)	`EarningsPerShareBasic`	$0.11	USD	1 Quarter

Cash Flow Statement 38 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-247.33K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$289.19K	USD	1 Quarter
Interest earned on investment held in Trust Account	`InterestIncomeSecuritiesUSTreasury`	$710.26K	USD	1 Quarter
Interest earned on investment held in Trust Account	`InterestIncomeSecuritiesUSTreasury`	$81.46K	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred tax expense	`DeferredIncomeTaxExpenseBenefit`	$4.18K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$122.17K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-17.50K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$56.19K	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$104.78K	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedParties`	-	USD	1 Quarter
Due to related parties	`IncreaseDecreaseInDueToRelatedParties`	$65.00K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInIncomeTaxes`	$142.37K	USD	1 Quarter
Income tax payable	`IncreaseDecreaseInIncomeTaxes`	-	USD	1 Quarter
Franchise tax payable	`IncreaseDecreaseInSelfInsuranceReserve`	$2.00K	USD	1 Quarter
Franchise tax payable	`IncreaseDecreaseInSelfInsuranceReserve`	$12.40K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-123.44K	USD	1 Quarter
Net Cash Used in Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-344.18K	USD	1 Quarter
Purchase of investment held in Trust Account	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Purchase of investment held in Trust Account	`PaymentsToAcquireInvestments`	$575.00K	USD	1 Quarter
Withdrawal of investment held in Trust Account	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	-	USD	1 Quarter
Withdrawal of investment held in Trust Account	`ProceedsFromSaleOfAvailableForSaleSecuritiesDebt`	$253.43K	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net Cash Used in Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	$-321.57K	USD	1 Quarter
Proceeds from working capital and extension loans from related party	`ProceedsFromRelatedPartyDebt`	$700.00K	USD	1 Quarter
Proceeds from working capital and extension loans from related party	`ProceedsFromRelatedPartyDebt`	-	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net Cash Provided by Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$700.00K	USD	1 Quarter
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-344.18K	USD	1 Quarter
Net Change in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$254.99K	USD	1 Quarter
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$959.96K	USD	Point-in-time
Cash at beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.76K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$265.75K	USD	Point-in-time
Cash at end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$615.79K	USD	Point-in-time
Accretion of initial measurement of common stock subject to redemption value	`AccretionOfInitialMeasurementOfCommonStockSubjectToRedemptionValue`	$2.41M	USD	1 Quarter
Accretion of initial measurement of common stock subject to redemption value	`AccretionOfInitialMeasurementOfCommonStockSubjectToRedemptionValue`	-	USD	1 Quarter
Accretion of subsequent measurement of common stock subject to redemption value	`AccretionOfSubsequentMeasurementOfCommonStockSubjectToRedemptionValue`	-	USD	1 Quarter
Accretion of subsequent measurement of common stock subject to redemption value	`AccretionOfSubsequentMeasurementOfCommonStockSubjectToRedemptionValue`	$1.70M	USD	1 Quarter

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-3.51M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.10M	USD	Point-in-time
Accretion of subsequent measurement of common stock subject to redemption value	`TemporaryEquityAccretionToRedemptionValueAdjustment`	$-1.70M	USD	1 Quarter
Accretion of initial measurement of common stock subject to redemption value	`AccretionOfInitialMeasurementOfCommonStockSubjectToRedemptionValue`	$2.41M	USD	1 Quarter
Accretion of initial measurement of common stock subject to redemption value	`AccretionOfInitialMeasurementOfCommonStockSubjectToRedemptionValue`	-	USD	1 Quarter
Net income (Loss)	`NetIncomeLoss`	$-247.33K	USD	1 Quarter
Net income (Loss)	`NetIncomeLoss`	$289.19K	USD	1 Quarter
Balance	`StockholdersEquity`	$-3.51M	USD	Point-in-time
Balance	`StockholdersEquity`	$9.03M	USD	Point-in-time
Balance	`StockholdersEquity`	$6.38M	USD	Point-in-time
Balance	`StockholdersEquity`	$-2.10M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.