Company: GDSTR
Filing Date: 2025-08-05
Form Type: S-4/A
Source: 0001213900-25-071731
Chunk: 246

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-08-05
Form: S-4/A
Chunk 246
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 |     |     (113.1 | ) |

Gross profit was approximately $20,000 for the three months ended March 31, 2025 and gross loss was approximately $151,000 for the three months ended March 31, 2024. The gross profit (loss) margin for the three months ended March 31, 2025 increased to 5.4% from (59.3%) for the three months ended March 31, 2024. The increase primarily due to the (i) component part sales increased due to higher demand for repair parts related to units not under our warranty plan; and (ii) warranty gross profit increased due to revenue growth from higher sales and effective cost management. Improved operational efficiency also contributed to profitability in first quarter of 2025 as compared to the same period in 2024.

130

Operating Expenses Our operating expenses include selling, general and administrative expenses, research and development expenses. The following table sets forth the components of operating expenses for the years indicated:

|                                     |     | For the Three Months Ended March 31, |     |           |     |          |   |     | Percentage 
 Change     |   |
|                                     |     |                                 2025 |     |      2024 |     | Change   |   |     |            |   |
|                                     |     |                                  US$ |     |       US$ |     | US$      |   |     | %          |   |
| Selling, general and administrative |     |                            1,435,488 |     | 1,665,177 |     | (229,689 | ) |     | (13.8      | ) |
| Research and development            |     |                              112,000 |     |   213,619 |     | (101,619 | ) |     | (47.6      | ) |
| Depreciation and amortization       |     |                               29,972 |     |    58,646 |     | (28,674  | ) |     | (48.9      | ) |
| Total Operating Expenses            |     |                            1,577,460 |     | 1,937,442 |     | (359,982 | ) |     | (18.6      | ) |

Selling, General and Administrative Selling, general and administrative expenses for the three months ended March 31, 2025 decreased by 13.8% to approximately $1