Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 357

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 357
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 third -partycarriers or customer -ownedtrucks at the Company’s warehouse. Title and risk pass to the customer at this point and the Company recognizes the revenue related to the sale of the products. The Company recognizes revenue related to extended service protection plans on finished power cell units ratably over the term of the agreement, which is typically a 5 -yearservice period starting upon the installation date at the customer’s site. The Company will provide services that are covered under the agreement for the entire duration of the contract with no additional costs to the customer beyond the contract price; payments are generally received upfront and recorded as deferred revenue and amortized over the term of the agreement. F-56 INFINTIUM FUEL CELL SYSTEMS, INC.
NOTES TO FINANCIAL STATEMENTS NOTE 2 — BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) Cost of Revenues Cost of revenues mainly consists of costs for purchases of products, related inbound freight and delivery fees, indirect costs such as overhead and burden, and direct labor. Selling, General and Administrative Expenses Selling, general and administrative expenses consist of compensation, employee benefits and stock -basedcompensation of employees, as well as travel expenses and general office expenses. Income Taxes The Company follows the asset and liability method of accounting for income taxes under ASC 740 — Income Taxes(“ASC 740”). Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that is included in the enactment date. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of December 31, 2023 and 2022. The Company is currently not aware of any