Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 236

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 236
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 quarter of 2025 as compared to the same period in 2024.

124

Operating Expenses Our operating expenses include selling, general and administrative expenses, research and development expenses. The following table sets forth the components of operating expenses for the years indicated:

|                                     |     | For the Three Months Ended March 31, |     |           |     |          |   |     | Percentage 
 Change     |   |
|                                     |     |                                 2025 |     |      2024 |     | Change   |   |     |            |   |
|                                     |     |                                  US$ |     |       US$ |     | US$      |   |     | %          |   |
| Selling, general and administrative |     |                            1,435,488 |     | 1,665,177 |     | (229,689 | ) |     | (13.8      | ) |
| Research and development            |     |                              112,000 |     |   213,619 |     | (101,619 | ) |     | (47.6      | ) |
| Depreciation and amortization       |     |                               29,972 |     |    58,646 |     | (28,674  | ) |     | (48.9      | ) |
| Total Operating Expenses            |     |                            1,577,460 |     | 1,937,442 |     | (359,982 | ) |     | (18.6      | ) |

Selling, General and Administrative Selling, general and administrative expenses for the three months ended March 31, 2025 decreased by 13.8% to approximately $1.4 million as compared to approximately $1.7 million for the three months ended March 31, 2024. The decrease is mainly due to lower professional expense and consulting fees of approximately $0.4 million as the majority of expenses related to the Company’s public listing were incurred in 2024. Additionally, the decrease was offset by higher salary and benefits expenses of approximately $0.2 million as we expanded our workforce to support our growth strategy. Research and Development Research and development expenses for the three months ended March 31, 2025 decreased by 47.6% to approximately $112,000 as compared to approximately $214,000 for the three months ended March 31, 2024. The decrease was mainly due to reduced spending in research and