Company: GDSTR
Filing Date: 2025-08-05
Form Type: S-4/A
Source: 0001213900-25-071731
Chunk: 245

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-08-05
Form: S-4/A
Chunk 245
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, our HFCs take less than three minutes to refill, enabling a longer shift of operation and saving significant downtime. HFCs also eliminate the need for battery swap and charging rooms. We have successfully deployed our HFC power units with renowned industrial brands such as BMW, Mercedes -Benz, Hyster -Yaleand Ford, and are in the process of deploying in major retail chains with substantial warehouse facilities and footprints in the U.S. as well as select foreign countries in North and South America. Our immediate growth strategy is focused on leveraging our proven HFC technology, customer relationships, and manufacturing capabilities to expand our market share in the HFC forklift segment that is emerging rapidly in the U.S. We aim to expand our market share and sales first through increasing penetration and sales to our existing customers, including our partners in forklift manufacturing, distribution, wholesale and HCF services, as well as direct, large end users. We are targeting new customers in the automotive, industrial, logistics, and retail distribution companies, and we also plan to expand geographically into non -U.S. markets, notably Canada, Central and South America, followed by Middle East and Europe. In addition, we continue to develop additional HFCs adjacent to our current product portfolios for new applications such as hydrogen -poweredlight and heavy -dutycommercial vehicles, as well as stationary power such as backup power generation and energy storage for corporate campuses, data centers and community microgrids. We believe that our combined strategy to first focus on increasing our market share in the U.S. material handling or industrial vehicle market as a qualified, reliable and attractive HFC supplier and to leverage our HFC knowhow and technology to enter segments outside of material handling, such as light and heavy -dutycommercial trucks, distributed energy and energy storage markets bring significant market opportunities for our long -termgrowth. 128

For the Three Months Ended March 31, 2025 compared to March 31, 2024 Results of Operations The following table presents certain combined statement of operations information and presentation of that data as a percentage of change from year to year.

|                                     |     | For the Three Months Ended March 31, |   |     |            |   |     |          |   |     | Percentage 
     Change |   |
|                                     |     |                                 2025 |   |     |       2024 |   |     |   Change |   |     |            |   |
|                                     |     |                                  US$