Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 250

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 250
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): Improvements to Income Tax Disclosures. The ASU focuses on income tax disclosures around effective tax rates and cash income taxes paid. ASU 2023 -09largely follows the proposed ASU issued earlier in 2023 with several important modifications and clarifications discussed below. ASU 2023 -09is effective for public business entities for annual periods beginning after December 15, 2024 (generally, calendar year 2025) and effective for all other business entities one year later. Entities should adopt this guidance on a prospective basis, though retrospective application is permitted. The Company does not expect this standard to have a material impact on the Company’s financial statement. In November 2024, the FASB issued ASU 2024 -03, Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220 -40): Disaggregation of Income Statement Expenses to disclose additional information about specific expense categories. ASU 2024 -03is effective for fiscal years beginning after December 15, 2026, with early adoption permitted and should be applied either prospectively or retroactively. The Company is currently evaluating the impact of this standard. Off-Balance Sheet Arrangements We have no off -balancesheet arrangements that have or are reasonably likely to have a material current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures, or capital resources. Effects of Inflation We do not believe that inflation has had a material impact on our business, revenues, or operating results during the periods presented. 134 UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION The unaudited pro forma condensed combined financial statements are based on the Goldenstone Acquisition Limited (“Goldenstone”) historical financial statements and Infintium Fuel Cell Systems, Inc. (“Infintium”) historical financial statements as adjusted to give effect to the Business Combination. The unaudited pro forma condensed combined balance sheet gives pro forma effect to the Business Combination as if it had been consummated on March 31, 2025. The unaudited pro forma condensed combined statements of operations for the three months ended March31, 2025 and the year ended December 31, 2024 give effect to the Business Combination as if it had occurred on January 1, 2024, the beginning of the earliest period presented. The transactions contemplated under the Business Combination Agreement relating to the Business Combination are referred to in