Company: GDSTR
Filing Date: 2025-04-24
Form Type: S-4/A
Source: 0001213900-25-034782
Chunk: 241

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-04-24
Form: S-4/A
Chunk 241
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 clarify circumstances in which an entity can disclose multiple segment measures of profit or loss, provide new segment disclosure requirements for entities with a single reportable segment, and contain other disclosure requirements. The purpose of the amendments is to enable investors to better understand an entity’s overall performance and assess potential future cash flows. The ASU applies to all public entities that are required to report segment information in accordance with ASC 280. The Company does not expect this standard to have a material impact on the Company’s financial statements. On December 14, 2023, the FASB issued ASU 2023 -09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU focuses on income tax disclosures around effective tax rates and cash income taxes paid. ASU 2023 -09largely follows the proposed ASU issued earlier in 2023 with several important modifications and clarifications discussed below. ASU 2023 -09is effective for public business entities for annual periods beginning after December 15, 2024 (generally, calendar year 2025) and effective for all other business entities one year later. Entities should adopt this guidance on a prospective basis, though retrospective application is permitted. The Company does not expect this standard to have a material impact on the Company’s financial statement. In November 2024, the FASB issued ASU 2024 -03, Income Statement — Reporting Comprehensive Income — Expense Disaggregation Disclosures (Subtopic 220 -40): Disaggregation of Income Statement Expenses to disclose additional information about specific expense categories. ASU 2024 -03is effective for fiscal years beginning after December 15, 2026, with early adoption permitted and should be applied either prospectively or retroactively. The Company is currently evaluating the impact of this standard. 128 Off-Balance Sheet Arrangements We have no off -balancesheet arrangements that have or are reasonably likely to have a material current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures, or capital resources. Effects of Inflation We do not believe that inflation has had a material impact on our business, revenues, or operating results during the periods presented. 129 UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL INFORMATION The unaudited pro forma condensed combined financial statements are based on the Goldenstone Acquisition Limited (“Goldenstone”) historical financial statements and Infintium Fuel Cell Systems, Inc.