Here are the 10-Q quarterly reports from Goldenstone Acq Ltd (GDST) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow GDST and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GDST filings page.
Goldenstone Acquisition Limited, a SPAC, reported a small net loss of $108,214 for the quarter and $523,630 for the nine months ended December 31, 2025, as it continues to search for a merger target.
Total assets fell sharply to $5.84 million from $19.06 million, mainly because public shareholders redeemed shares and cash was withdrawn from the trust. Cash and investments in the trust account declined to $5.77 million, and only $24,330 of cash remained outside the trust.
After multiple extensions and redemptions, 442,996 public shares remain redeemable at an aggregate redemption value of about $5.81 million, while working capital and extension loans from related parties increased to $3.82 million. The SPAC’s business combination agreement with Infintium was terminated on October 1, 2025, and management disclosed substantial doubt about its ability to continue as a going concern if no deal is completed by the current deadline of June 21, 2026.
Goldenstone Acquisition Limited (GDST) reported a small operating company-style update as it continues to search for a merger partner. For the six months ended September 30, 2025, it recorded a net loss of $415,416, compared with net income of $81,219 a year earlier, driven by formation and operating costs and lower interest income from its shrinking trust.
Redemptions significantly reduced the SPAC’s cash pool: the Trust Account balance fell to $5,330,210 from $18,666,931 at March 31, 2025, after $13,510,111 was used to redeem 1,152,875 shares in July 2025. Only 442,996 public shares remain redeemable, and cash outside the trust was just $371,603, alongside a working capital deficit of $5,290,212.
The planned business combination with Infintium Fuel Cell Systems, Inc. was terminated by Infintium on October 1, 2025, leaving Goldenstone without a deal. The company has extended its deadline to complete a transaction up to June 21, 2026 via monthly sponsor-funded deposits, and management cites these conditions as raising substantial doubt about its ability to continue as a going concern. Goldenstone also recorded an excise tax liability of $600,958 related to past stock redemptions.