Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 215

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 215
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3

| 2024                                                |     | Nine Months Ended 
 September 30,     |           | 2023 |     |   |            |   |
|:----------------------------------------------------|:----|:------------------|----------:|:-----|:----|:--|-----------:|:--|
| Net cash provided by (used in) operating activities |     | $                 | 3,395,371 |      |     | $ | (1,276,371 | ) |
| Net cash used in investing activities               |     |                   |   (44,563 | )    |     |   |   (418,679 | ) |
| Net cash provided by financing activities           |     |                   | 2,500,000 |      |     |   |  1,300,000 |   |
| Net change in cash                                  |     | $                 | 5,850,808 |      |     | $ |   (395,050 | ) |

Cash Flows from Operating Activities For the nine months ended September 30, 2024, there was $3,395,371 of cash provided by operating activities resulting from a net loss of $5,009,431, adjustments to reconcile net loss to net cash used of i) depreciation and amortization expense of $181,246, ii) stock -basedcompensation of $845,148, iii) an inventory obsolescence provision of $134,793 and iv) amortization of a right -of-useasset of $58,642, as well as changes in operating assets and liabilities of i) an increase in accounts receivable of $147,772, ii) an increase in prepaid expenses and other current assets of $485,432, iii) an increase in inventory, net of $239,422 and (iv) a decrease in a lease liability of $58,733, offset by v) an increase in accrued expenses and other current liabilities of $5,052,169, vi) an increase in accounts payable of $178,395 and vii) deferred service revenue of $2,885,768. For the nine months ended September 30, 2023, there was $1,276,371 of cash used in operating activities resulting from a net loss of $3,239,485, adjustments to reconcile net loss to net cash used of i) depreciation and amortization expense of $157,186, ii) stock -basedcompensation of $567,252