Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 366

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 366
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 For the 
 Three months 
        ended 
    March 31, 
         2024 |   |
|:--------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Fair value                      |     | $ |         0.98 |   |     | $ |         0.65 |   |
| Exercise price                  |     | $ |         0.29 |   |     | $ |         0.29 |   |
| Risk-free interest rate         |     |   |         4.58 | % |     |   |         4.01 | % |
| Average life of options (years) |     |   |           10 |   |     |   |           10 |   |
| Volatility                      |     |   |        70.00 | % |     |   |        75.00 | % |
| Dividend yield                  |     |   |            0 | % |     |   |            0 | % |

F-44 INFINTIUM FUEL CELL SYSTEMS, INC.
NOTES TO FINANCIAL STATEMENTS
(Unaudited) NOTE 13 — EQUITY INCENTIVE PLAN (cont.) The fair value of the options refers to the fair value of the ordinary shares as of the equity valuation dates, and the exercise price is determined according to each share option agreement. The risk -freeinterest rate is based on the rates available at the time of the grant for zero -couponU.S. government issues with a remaining term equal to the option’s expected life, and the average life of an option is based on both historical and projected exercise and lapsing data. Expected volatility is based on implied volatilities from historical volatilities of comparable companies. Dividend yield is based on the option’s exercise price and annual dividend rate at the time of grant, which is zero. As of March31, 2025, the Company had 1,457,500 unvested shares with an unrecognized stock -basedcompensation of $1,294,456, related to unvested stock option awards, which is expected to be recognized over an estimated weighted -averageperiod of 2.1 years. NOTE 14 — STOCKHOLDERS’ EQUITY (DEFICIT) Common stock As of March 31, 2025, per an amendment and restatement of the Certificate of Incorporation, the