Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 355

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 355
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 reimburse its customers for its associated costs and expenses. Historically, sales returns and warranty expenses in connection with its assurance -typewarranties are insignificant to the Company’s statements of operations. Furthermore, the manufactured product sales normally include assurance -typewarranties that the Company’s performance is free from material defect and consistent with the specifications of the Company’s contract, which do not give rise to a separate performance obligation. To the extent the warranty terms provide the customer with an additional service, such as extended service protection plan, such warranty is accounted for as a separate performance obligation even though it is embedded in the sales contract, which is generally 5 -yearservice period after installation. Revenue generated from the manufactured product sales and the extended service protection plan are not clearly observable in the sale contract with these two performance obligations. As such, the Company used the residual approach to determine the standalone selling price of the manufactured product revenue and the extended service protection plan revenue. 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 F-35 INFINTIUM FUEL CELL SYSTEMS, INC.
NOTES TO FINANCIAL STATEMENTS
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