Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 210

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 210
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. markets, notably Canada, Central and South America, followed by Middle East and Europe. In addition, we continue to develop additional HFCs adjacent to our current product portfolios for new applications such as hydrogen -poweredlight and heavy -dutycommercial vehicles, as well as stationary power such as backup power generation and energy storage for corporate campuses, data centers and community microgrids. We believe that our combined strategy to first focus on increasing our market share in the U.S. material handling or industrial vehicle market as a qualified, reliable and attractive HFC supplier and to leverage our HFC knowhow and technology to enter segments outside of material handling, such as light and heavy -dutycommercial trucks, distributed energy and energy storage markets bring significant market opportunities for our long -termgrowth. Results of Operations Revenues For the year ended December 31, 2023, we had revenues of $2,803,215, which consisted of product sales of $2,724,818, warranty revenue of $36,760 and service revenue of $100,687, offset by other sales returns of $59,050. 109 For the year ended December 31, 2022, we had revenues of $1,846,589, which consisted of product sales of $1,327,200, service revenue of $442,386 and other services of $77,003. For the nine months ended September 30, 2024, we had revenues of $3,801,402, which consisted of product sales of $3,355,825, warranty revenue of $345,592 and service revenue of $100,768, offset by other sales returns of $784. For the nine months ended September 30, 2023, we had revenues of $733,388, which consisted of product sales of $608,379, warranty revenue of $134,340 and service revenue of $49,720, offset by other sales returns of $59,050. Costs of Revenues For the year ended December 31, 2023, costs of revenues were $3,264,888, which included direct material costs of $2,680,111 and manufacturing costs of $584,777. For the year ended December 31, 2022, costs of revenues were $2,964,757, which included direct material costs of $2,423,157 and manufacturing costs of $541,600. For the nine months ended September 30, 2024, costs of revenues were $