Company: GDSTR
Filing Date: 2025-07-18
Form Type: S-4/A
Source: 0001213900-25-065671
Chunk: 385

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-07-18
Form: S-4/A
Chunk 385
---
 on terms acceptable to the Company, or at all. Based on these circumstances, management has determined that these conditions raise substantial doubt about the Company’s ability to continue as a going concern for the twelve months following the issuance of these financial statements. Accordingly, the accompanying financial statements have been prepared in conformity with U.S. GAAP, which contemplates continuation of the Company as a going concern and the realization of assets and the satisfaction of liabilities in the normal course of business. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. NOTE 4 — ACCOUNTS RECEIVABLE The Company’s accounts receivable included the following:

|                                   |     |   | December 31, 
         2024 |     |   | December 31, 
         2023 |
|:----------------------------------|:----|:--|-------------:|:----|:--|-------------:|
| Accounts receivable               |     | $ |      606,517 |     | $ |      959,069 |
| Less: allowance for credit losses |     |   |            — |     |   |            — |
| Total accounts receivable         |     | $ |      606,517 |     | $ |      959,069 |

NOTE 5 — INVENTORY, NET The Company’s inventory, net included the following:

|                                                      |     |   | December 31, 
         2024 |   |     |   | December 31, 
         2023 |   |
|:-----------------------------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Raw materials                                        |     | $ |    1,680,459 |   |     | $ |    2,845,261 |   |
| Total inventory                                      |     |   |    1,680,459 |   |     |   |    2,845,261 |   |
| Less: Reserve for obsolete and slow-moving inventory |     |   |     (589,498 | ) |     |   |     (452,778 | ) |
| Total inventory, net                                 |     | $ |    1,090,961 |   |     | $ |    2,392,483 |   |

F-59

INFINTIUM FUEL CELL SYSTEMS, INC.
NOTES TO FINANCIAL STATEMENTS NOTE 6 — PREPAID EXPENSES