Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 363

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 363
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 respectively. In August 2024, the Company entered into a long -termpromissory note with a related party, lender E, with proceeds to the Company of $1,000,000 and an interest rate of zero percent; as of March 31, 2025 and December 31, 2024, the balance of the noncurrent related party loan was $1,000,000 and $1,000,000, respectively. NOTE 11 — 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 as follows:

|                       |     |   |      For the 
 Three Months 
        Ended 
    March 31, 
         2025 |     |   |      For the 
 Three Months 
        Ended 
    March 31, 
         2024 |
|:----------------------|:----|:--|-------------:|:----|:--|-------------:|
| Product sales         |     | $ |            — |     | $ |      136,451 |
| Warranty revenue      |     |   |      254,440 |     |   |       94,364 |
| Component parts sales |     |   |      109,731 |     |   |       23,823 |
| Total revenue         |     | $ |      364,171 |     | $ |      254,638 |

Contract Assets and Liabilities Contract assets and liabilities result from differences in timing of revenue recognition and customer invoicing; contract assets primarily relate to the sale of a good or service for which revenue is recognized over time. Contract liabilities typically include advance payments or rights to consideration prior to performance under a contract. As of March 31, 2025, the Company had current and noncurrent deferred revenue liability recorded in the amounts of $1,091,227 and $3,449,596, respectively, as well as customer down payments (See Note 8 — Accrued expenses and other current liabilities) recorded in the amount of $3,661,821. As of December 31, 2024, the Company had current and noncurrent deferred revenue liability recorded in the amounts of $1,091,227 and $