Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 244

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 244
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) a decrease of approximately $1.2 million in inventory resulted from better inventory management, which was offset by (vi) a net loss of approximately $7.6 million and (vii) an increase of approximately $0.9 million in prepaid expenses and other current assets resulted from more prepayments to our vendors for securing our inventory purchase. Net cash used in operating activities for the year ended December 31, 2023 was approximately $2.1 million resulting from (i) a net loss of approximately $5.2 million, (ii) in increase of approximately $0.4 million in accounts receivable as we had extended credits to a few of our customers, (iii) a decrease of approximately $0.2 million in accrued expenses and other current liabilities as we recognized sales of the customer down payments in 2023 timely, which was offset by (iv) a decrease of approximately $1.2 million in inventory resulted from better inventory management, (v) an increase of approximately $0.4 million in accounts payable as we were behind on payments for a few of our vendors, (vi) an increase of approximately $1.1 million in deferred service revenue liability as our customers generally prepaid our 5 -yearoptional extended service protection plan in advance for future warranty revenue recognition, and (vii) approximately $1.1 million of non -cashoperating activities, which include stock -basedcompensation, depreciation and amortization expense, inventory obsolescence recovery, and amortization of right -of-useasset.

130 Cash Flows from Investing Activities Net cash used in investing activities for the three months ended March 31, 2025 was approximately $3,000, primarily driven by purchases of equipment. Net cash used in investing activities for the three months ended March 31, 2024 was approximately $30,000 primarily driven by purchases of equipment. Net cash used in investing activities for the year ended December 31, 2024 was approximately $0.2 million, primarily driven by purchases of property and equipment. Net cash provided by investing activities for the year ended December 31, 2023 was approximately $47,000, primarily resulting from the proceeds from the sale of property and equipment of $60,000, offset by the purchase of property and equipment for approximately $13,000. Cash Flows from Financing Activities Net cash used in financing activities for the three months ended March 31, 2025 was approximately $300,000, primarily driven by repayments of loans