Company: GDSTR
Filing Date: 2025-07-18
Form Type: S-4/A
Source: 0001213900-25-065671
Chunk: 376

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-07-18
Form: S-4/A
Chunk 376
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 Merger. NOTE 2 — BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying audited financial statements of the Company have been prepared in accordance with the generally accepted accounting principles in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). The Company’s fiscal year end date is December 31. Use of Estimates The 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 December 31, 2024 and 2023, the Company had no cash equivalents. 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 $5.8 million and $0.6 million as of December 31, 2024 and 2023, respectively. F-53

INFINTIUM FUEL CELL SYSTEMS, INC.
NOTES TO FINANCIAL STATEMENTS NOTE 2 — BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) 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 balances are reviewed quarterly or more frequently if circumstances warrant, such as significant changes in the aging of receivables or a customer’s financial condition. Write -offsare recorded when a receivable is deemed uncollectible and collection efforts have been