Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 357

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 357
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 of diluted earnings/loss per shares. Warrants The Company accounts for warrants as either equity -classifiedor liability -classifiedinstruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) ASC 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own stock and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. F-36 INFINTIUM FUEL CELL SYSTEMS, INC.
NOTES TO FINANCIAL STATEMENTS
(Unaudited) NOTE 2 — BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) Warrants accounted for as equity instruments represent the warrants issued to the Company’s customer as discussed in Note 14 under the subsection “Warrants”. The Company adopted FASB ASU 2019 -08, Compensation — Stock Compensation(Topic 718) and Revenue from Contracts with Customers(Topic 606), which requires entities to measure and classify share -basedpayment awards granted to a customer. Litigation The Company accounts for litigation losses in accordance with ASC 450 — Contingencies(“ASC 450”). Under ASC 450, loss contingency provisions are recorded for probable losses at management’s best estimate of a loss, or when a best estimate cannot be made, a minimum loss contingency amount is recorded. Legal fees are recorded as incurred. Concentration of Risk and Guarantees The Company had two customers for the three months ended March 31, 2025 that accounted for approximately 46% and 31% of its revenue. These same two customers represented approximately 25% and 0% of the Company’s accounts receivable as of March 31, 2025, respectively. For the three months ended March 31, 2024, the Company had one customer that accounted for approximately 81% of its revenue, and approximately 49%