Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 351

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 351
---
 omitted. These unaudited condensed financial statements have been prepared on the same basis as its annual financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for the fair statement of the Company’s financial information. These interim results are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2025, or for any other interim period or for any other future year. All intercompany balances and transactions have been eliminated in consolidation. The Company’s fiscal year end date is December 31. Use of Estimates The unaudited condensed financial statements have been prepared in accordance with U.S. GAAP and include amounts based on estimates and assumptions by management. Actual results could differ from those amounts. Significant estimates include amounts for inventory reserves, allowances for credit losses and stock -basedcompensation expense. Segments The Company uses the management approach in determining reportable operating segments. The management approach considers the internal reporting used by our chief operating decision maker for making operating decisions about the allocation of resources and the assessment of performance in determining our reportable operating segments. Management has determined that the Company has one operating segment. Cash and Cash Equivalents Cash and cash equivalents include time deposits and other investments that are highly liquid with original maturities of three months or less when purchased. As of March 31, 2025 and December 31, 2024, the Company had no cash equivalents. F-32

INFINTIUM FUEL CELL SYSTEMS, INC.
NOTES TO FINANCIAL STATEMENTS
(Unaudited) NOTE 2 — BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) The Company may maintain bank balances in excess of $250,000, which is currently the maximum amount insured by the Federal Deposit Insurance Corporation (“FDIC”) for interest bearing accounts. The Company has not experienced any losses with respect to cash. Management believes the Company is not exposed to any significant credit risk with respect to its cash. The amount in excess of the FDIC insurance was approximately $2.1 million and $5.8 million as of March 31, 2025 and December 31, 2024, respectively. Accounts Receivable Accounts receivable is stated at the net amount expected to be collected. All customers are granted credit on a short -termbasis and related credit risks are considered minimal. The Company evaluates accounts receivable regularly based on historical collection patterns and general economic conditions. Outstanding