Company: GDSTR
Filing Date: 2025-07-18
Form Type: S-4/A
Source: 0001213900-25-065671
Chunk: 242

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-07-18
Form: S-4/A
Chunk 242
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 and 3. Our HFCPUs for industrial vehicles are designed to provide reliable and efficient performance in a wide range of operating conditions. We have developed proprietary and patent -pendingcontrol algorithms and monitoring systems that enable our HFC systems to adapt to harsh working environments, minimize the risk of performance issues and maximize uptime for our customers. In addition, compared with battery -poweredsolutions, which generally require approximately one hour for lithium -ionbatteries and four hours for lead -acidbatteries for recharging, our HFCs take less than three minutes to refill, enabling a longer shift of operation and saving significant downtime. HFCs also eliminate the need for battery swap and charging rooms. We have successfully deployed our HFC power units with renowned industrial brands such as BMW, Mercedes -Benz, Hyster -Yaleand Ford, and are in the process of deploying in major retail chains with substantial warehouse facilities and footprints in the U.S. as well as select foreign countries in North and South America. Our immediate growth strategy is focused on leveraging our proven HFC technology, customer relationships, and manufacturing capabilities to expand our market share in the HFC forklift segment that is emerging rapidly in the U.S. We aim to expand our market share and sales first through increasing penetration and sales to our existing customers, including our partners in forklift manufacturing, distribution, wholesale and HCF services, as well as direct, large end users. We are targeting new customers in the automotive, industrial, logistics, and retail distribution companies, and we also plan to expand geographically into non -U.S. markets, notably Canada, Central and South America, followed by Middle East and Europe. In addition, we continue to develop additional HFCs adjacent to our current product portfolios for new applications such as hydrogen -poweredlight and heavy -dutycommercial vehicles, as well as stationary power such as backup power generation and energy storage for corporate campuses, data centers and community microgrids. We believe that our combined strategy to first focus on increasing our market share in the U.S. material handling or industrial vehicle market as a qualified, reliable and attractive HFC supplier and to leverage our HFC knowhow and technology to enter segments outside of material handling, such as light and heavy -dutycommercial trucks, distributed energy and energy storage markets bring significant market opportunities for our long -termgrowth. 128

For the Three Months Ended March 31, 2025 compared to March 31, 2024 Results of Operations The