Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 78

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 78
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 independent board of directors and an audit committee to provide oversight for remediation efforts and ongoing guidance regarding accounting, financial reporting, overall risks and the internal control environment; •Retain additional accounting personnel with public company financial reporting, technical accounting, SEC compliance, and strategic financial advisory experience to achieve adequate segregation of duties; and •Continue to develop formal policies and procedures on accounting and internal control over financial reporting and monitor the effectiveness of operations on existing controls and procedures. Infintium’s management will continue to monitor and evaluate the relevance of its risk -basedapproach and the effectiveness of our internal controls and procedures over financial reporting on an ongoing basis and is committed to taking further action and implementing additional enhancements or improvements, as necessary and as funds allow. Infintium’s, and thereby New Infintium’s, intended business, operations, and accounting are expected to be substantially more complex than Infintium’s has been to date. It may be time consuming, difficult, and costly for New Infintium to develop and implement the internal control and reporting procedures required by the Exchange Act. New Infintium may need to hire additional financial reporting, internal control, and other finance personnel in 28 order to develop and implement appropriate internal control and reporting procedures. If New Infintium is unable to comply with the internal control over financial reporting requirements of the Exchange Act, then it may not be able to obtain the required independent accountant certifications, which may preclude it from keeping its filings current with the SEC. Further, a material weakness in the effectiveness of internal control over financial reporting could result in an increased chance of fraud and the loss of customers, reduce New Infintium’s ability to obtain financing, and require additional expenditures to comply with these requirements, each of which could have a material adverse effect on its business, results of operations, and financial condition. If New Infintium is unable to implement and maintain effective internal control over financial reporting, including as applicable standards governing internal control are modified, supplemented, or amended from time to time, New Infintium may not be able to ensure that it can conclude on an ongoing basis that it has effective internal control over financial reporting. Failure to achieve and maintain effective internal control over financial reporting could cause New Infintium to face regulatory action and cause investors to lose confidence in its reported financial information, either of which could adversely affect the value of the New Infintium Common Stock. Risks Related to China Affiliations Changes in the policies, regulations, rules, and the enforcement of laws of the PRC government