Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 380

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 380
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 dependent on many factors, including, among other things, the ability to comply with the covenants in its existing debt agreements and the ability to pay, retire, amend, replace, or refinance indebtedness as defaults occur or as interest and principal payments come due. Despite the terms of the ownership contributions and the Company’s current operations and expectations for continued growth, it believes that cash generated from operating activities will not be adequate to meet current and expected operating needs, anticipated capital investment and debt service obligations for the next twelve months from the issuance date of these financial statements. The accompanying financial statements have been prepared on the basis that the Company will continue as a going concern over the next twelve months from the date of issuance of these financial statements, which assumes the realization of assets and the satisfaction of liabilities in the normal course of business. As of December 31, 2024, the Company has an accumulated deficit of $35,507,206 and has experienced losses from continuing operations. Based on the Company’s cash balance as of December 31, 2024 and 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 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 The Company’s accounts receivable included the following:

|                                   |     |   | December 31, 
         2024 |     |   | December 31, 
         2023 |
|:----------------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Accounts receivable               |     | $ |      606,517 |     | $ |