Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 369

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 369
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, the balance of the related party loan payable is zero. In August 2023, the Company entered into a promissory note with a related party lender B controlled by the Company’s ultimate shareholder, with proceeds to the Company of $300,000 and an interest rate of zero percent. As of December 31, 2023, the balance of the related party loan payable is $300,000. F-63

INFINTIUM FUEL CELL SYSTEMS, INC.
NOTES TO FINANCIAL STATEMENTS NOTE 10 — LOANS PAYABLE — RELATED PARTY (cont.) Loan payable — related party, shareholder and individual lender In November 2023, the Company entered into a promissory note with an individual related party shareholder and lender, with proceeds to the Company of $50,000 and an interest rate of zero percent. The Company repaid the entire note in the amount of $50,000 in December 2023 and as of December 31, 2023, the balance of the related party loan payable is zero. NOTE 11 — SUPPLEMENTAL FINANCIAL INFORMATION Other expense, net, for the years ended December 31, 2023 and 2022 was $239,629 and $47,685, respectively; the current year balance includes other expense of $9,776, allowance for credit losses of $164,699 and interest expense of $65,154. The prior year balance includes allowance for credit losses and interest expense of $10,596 and $37,089, respectively. NOTE 12 — REVENUE Revenue is accounted for in accordance with ASC 606. Revenue is recognized as control of goods and/or services are transferred to customers in an amount that reflects the consideration an entity expects to receive in exchange for the goods and/or services; see Note 2 for additional information. Disaggregated Revenue Information The following table disaggregates revenue by significant revenue stream for the years ended December 31:

|                                 |     |   |      2023 |   |     |   |      2022 |
|:--------------------------------|:----|:--|----------:|:--|:----|:--|----------:|
| Product sales                   |     | $ | 2,724,818 |   |     | $ | 1,327,200 |
| Warranty revenue                |     |   |    36,760 |   |     |   |         — |
| Service revenue                 |     |   |