Company: GDSTR
Filing Date: 2025-07-18
Form Type: S-4/A
Source: 0001213900-25-065671
Chunk: 251

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-07-18
Form: S-4/A
Chunk 251
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 generally prepaid our 5 -yearoptional extended protection plan in advance for future warranty revenue recognition, (vi) a decrease of approximately $0.7 million in accounts receivable resulted from our better collection efforts, and (vii) approximately $0.3 million of non -cashoperating activities, which include stock -basedcompensation, depreciation and amortization expense, amortization of right -of-useasset, and inventory obsolescence provision. Net cash provided by operating activities for the year ended December 31, 2024 was approximately $3.3 million of cash resulting from (i) an increase of approximately $3.7 million in deferred service revenue liability as our customers generally prepaid our 5 -yearoptional extended service protection plan in advance for future warranty revenue recognition; (ii) an increase of approximately $5.0 million in accrued expenses and other current liabilities as a result of increased sales tax payable and customers down payment; (iii) approximately $1.5 million of non -cashoperating activities, which include stock -basedcompensation, depreciation and amortization expense, inventory obsolescence provision, and amortization of right -of-useasset, (iv) a decrease of approximately $0.4 million in accounts receivable resulted from better collection efforts (v) a decrease of approximately $1.2 million in inventory resulted from better inventory management, which was offset by (vi) a net loss of approximately $7.6 million and (vii) an increase of approximately $0.9 million in prepaid expenses and other current assets resulted from more prepayments to our vendors for securing our inventory purchase. Net cash used in operating activities for the year ended December 31, 2023 was approximately $2.1 million resulting from (i) a net loss of approximately $5.2 million, (ii) in increase of approximately $0.4 million in accounts receivable as we had extended credits to a few of our customers, (iii) a decrease of approximately $0.2 million in accrued expenses and other current liabilities as we recognized sales of the customer down payments in 2023 timely, which was offset by (iv) a decrease of approximately $1.2 million in inventory resulted from better inventory management, (v) an increase of approximately $0.4 million in accounts payable as we were behind on payments for a few of our vendors, (vi) an increase of approximately $1.1 million in deferred service revenue liability as our customers generally prepaid our 5 -year