Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 220

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 220
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 or less when purchased. As of September 30, 2024, December 31, 2023 and 2022, we had no short -terminvestments and cash consists of cash deposited within banks in checking accounts. We may maintain bank balances in excess of $250,000, which is currently the maximum amount insured by the Federal Deposit Insurance Corporation (“FDIC”) for interest bearing accounts. We have not experienced any losses with respect to cash. Management believes we are not exposed to any significant credit risk with respect to its cash. Accounts Receivable, net Accounts receivable is stated at the net amount expected to be collected. All customers are granted credit on a short -termbasis and related credit risks are considered minimal. We maintain an allowance for expected credit losses resulting from the inability of its customers to make required payments. Our allowance is established based on historical patterns of accounts receivable collections and expected losses, including consideration of general economic conditions. Outstanding accounts receivable balances are reviewed quarterly or more frequently when circumstances indicate a review is warranted, for example if there is a significant change in the aging of our receivables or a customer’s financial condition. Write -offsare recorded at the time a customer receivable is deemed uncollectible and collection efforts have been exhausted. Inventory, net Finished goods, work -in-process, and raw materials inventories are valued at the lower of cost or market, as determined by the moving average unit cost method. Manufacturing and maintenance supplies are valued at cost. Inventory costs include material, labor and manufacturing overhead. The need for a provision for estimated losses from obsolete, excess or slow -movinginventories is reviewed periodically. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of subscription fees, down payments from vendors, other miscellaneous payments and deposits. Property and Equipment Property, plant and equipment additions are recorded at cost, including applicable freight, interest, construction and installation costs. Depreciation and amortization are recorded on a straight -linebasis over the estimate useful lives of the assets. The following table shows estimated useful lives of property and equipment:

| Classification     |     | Estimated     
 Useful Lives  |
| Equipment          |     | 3 to 10 years |
| Tools              |     | 3 years       |
| Lease improvements |     | 1 year        |

Gains and losses on the retirement of assets are included in operating income. Long -livedassets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may