Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 386

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 386
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 |     |   |      198,343 |   |     |   |      100,687 |   |
| Other (including sales returns) |     |   |       (4,963 | ) |     |   |      (59,050 | ) |
| Total revenue                   |     | $ |    5,055,110 |   |     | $ |    2,803,215 |   |

Contract Assets and Liabilities Contract assets and liabilities result from differences in timing of revenue recognition and customer invoicing; contract assets primarily relate to the sale of a good or service for which revenue is recognized over time. Contract liabilities typically include advance payments or rights to consideration prior to performance under a contract. As of December 31, 2024, the Company had current and noncurrent deferred revenue liability recorded in the amounts of $1,091,227 and $3,722,403, respectively, as well as customer down payments (See Note 8 — Accrued expenses and other current liabilities) recorded in the amount of $3,661,821. As of December 31, 2023, the Company had current and noncurrent deferred revenue liability recorded in the amounts of $228,109 and $878,477, respectively, as well as customer down payments recorded in the amount of $0. Remaining Performance Obligations As of December 31, 2024, the estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) was approximately $4,813,630; the Company expects to recognize revenue on these remaining performance obligations over the next sixty months. The performance obligations primarily reflect the sale of extended service protection plans related to previously sold equipment; the Company has applied the practical expedient described in ASC 606 -10-50-14and has not included remaining performance obligations related to contracts with original expected durations of one year or less. NOTE 13 — LEASES On November 1, 2021, the Company entered into a five -yearagreement with a lessor for the rental of a building located at 3271 Brushy Creek, Greer, SC 29650, where the Company manufactures its goods. The lease was classified as an operating lease and has a monthly base rent of approximately $7,500, with a base rent increase of approximately three percent each year. The Company mutually agreed to terminate this lease early with its landlord in January 2025. There was no penalties and