Company: GDSTR
Filing Date: 2025-07-18
Form Type: S-4/A
Source: 0001213900-25-065671
Chunk: 243

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-07-18
Form: S-4/A
Chunk 243
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 approximately $364,000 as compared to approximately $255,000 for the three months ended March 31, 2024. Revenues changed mainly due to following reasons: Power cell Units Power cell revenue for the three months ended March 31, 2025 decreased by 100.0% to approximately $0 as compared to approximately $136,000 for the three months ended March 31, 2024. We had 0 and 9 units of power cell sold for the three months ended March 31, 2025 and 2024, respectively. The decrease in units sold was primarily driven by no unit were sold in the first quarter of 2025. At present, our revenue is predominantly project based. The negotiations with customers on their projects took longer than expected.In August 2024, we received a large purchase order which was cancelled towards the end of 2024, which resulted in no power cell units sold in the three months ended March 31, 2025. In the first half of 2025, we received a few purchase orders, and we expect to deliver these new orders in the second half of 2025.

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Component parts Component parts revenue for the three months ended March 31, 2025 increased by 360.6% to approximately $110,000 as compared to approximately $24,000 for the three months ended March 31, 2024. Component parts revenue increased caused by higher demands of the replacement parts for the aging of the power cell units that our customers previously purchased. Warranty Warranty revenue for the three months ended March 31, 2024 increased by 169.6% to approximately $254,000 as compared to approximately $94,000 for the three months ended March 31, 2024. The increase in warranty revenue was primarily due to the recognition of revenue from our 5 -yearoptional extended service protection plans, which were sold with power units delivered in the second half of 2024. Costs of Revenues

|                   |     | For the Three Months Ended March 31, |     |         |     |          |   |     | Percentage 
     Change |   |
|                   |     |                                 2025 |     |    2024 |     |   Change |   |     |            |   |
|                   |     |                                  US$ |     |     US$ |     |      US$ |   |     |          % |   |
| Cost of revenues: |     |