Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 364

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 364
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 projected cash needs for the twelve months following the issuance of these financial statements, management estimates that it will need to rely upon ownership contributions from stockholders, officers and directors, or their affiliates, as well as successful capital raises through equity and debt financings to cover operating and capital requirements. Although management has been successful to date in raising necessary funding and obtaining financing through investors, there can be no assurance that any required future F-60

INFINTIUM FUEL CELL SYSTEMS, INC.
NOTES TO FINANCIAL STATEMENTS NOTE 3 — GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS (cont.) financing can be successfully completed on a timely basis, on terms acceptable to the Company, or at all. Based on these circumstances, management has determined that these conditions raise substantial doubt about the Company’s ability to continue as a going concern for the twelve months following the issuance of these financial statements. Accordingly, the accompanying financial statements have been prepared in conformity with U.S. GAAP, which contemplates continuation of the Company as a going concern and the realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. NOTE 4 — ACCOUNTS RECEIVABLE, NET The Company’s accounts receivable included the following as of December 31:

|                                   |     |   |    2023 |     |   |    2022 |
|:----------------------------------|:----|:--|--------:|:----|:--|--------:|
| Accounts receivable               |     | $ | 959,069 |     | $ | 581,471 |
| Less: allowance for credit losses |     |   |       — |     |   |       — |
| Total accounts receivable         |     | $ | 959,069 |     | $ | 581,471 |

NOTE 5 — INVENTORY, NET The Company’s inventory included the following as of December 31:

|                                                      |     |   |      2023 |   |     |   |      2022 |   |
|:-----------------------------------------------------|:----|:--|----------:|:--|:----|:--|----------:|:--|
| Finished goods                                       |     | $ |         — |   |     | $ |   229,585 |   |
| Work in progress                                     |     |   |         — |   |     |   |