Company: GDSTR
Filing Date: 2025-08-05
Form Type: S-4/A
Source: 0001213900-25-071731
Chunk: 395

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-08-05
Form: S-4/A
Chunk 395
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INFINTIUM FUEL CELL SYSTEMS, INC.
NOTES TO FINANCIAL STATEMENTS NOTE 12 — REVENUE Revenue is accounted for in accordance with ASC 606. Revenue is recognized as control of goods and/or services are transferred to customers in an amount that reflects the consideration an entity expects to receive in exchange for the goods and/or services; see Note 2 for additional information. Disaggregated Revenue Information The following table disaggregates revenue by significant revenue stream as follows:

|                                 |     |   |      For the 
   Year Ended 
 December 31, 
         2024 |   |     |   |      For the 
   Year Ended 
 December 31, 
         2023 |   |
|:--------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Product sales                   |     | $ |    4,274,639 |   |     | $ |    2,724,818 |   |
| Warranty revenue                |     |   |      587,091 |   |     |   |       36,760 |   |
| Component parts sales           |     |   |      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