Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 219

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 219
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 to the Company of $500,000 and an interest rate of zero percent. As of September 30, 2024, the balance of the current related party loan was $500,000. In August 2024, the Company entered into a promissory 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 September 30, 2024, the balance of the noncurrent related party loan was $1,000,000. Loan payable — related party, shareholder and individual lender In November 2023, we entered into a promissory note with an individual related party shareholder and lender, with proceeds to us of $50,000 and an interest rate of zero percent. We 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. Critical Accounting Estimates Our significant accounting policies are more fully described in the notes to our financial statements for the fiscal years ended December 31, 2023 and 2022 and for the nine months ended September 30, 2024 and 2023, included elsewhere in this proxy statement/information statement/prospectus. We believe that the accounting policies below are critical for one to fully understand and evaluate our financial condition and results of operations. Basis of Presentation The accompanying audited financial statements have been prepared in accordance with the generally accepted accounting principles in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). These financial statements are presented in U.S Dollars. Our fiscal year end date is December 31. Use of Estimates The financial statements have been prepared in accordance with U.S. GAAP and necessarily include amounts based on estimates and assumptions by management. Actual results could differ from those amounts. Significant estimates include amounts for warranty reserves, inventory, accounts receivable exposures, and stock -basedcompensation expense. 114

Segments We use the management approach in determining reportable operating segments. The management approach considers the internal reporting used by our chief operating decision maker for making operating decisions about the allocation of resources of the segment and the assessment of its performance in determining our reportable operating segments. Management has determined that we have one operating segment. Cash and Cash Equivalents Cash and cash equivalents include time deposits and other investments that are highly liquid with original maturities of three months