Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 375

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 375
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 years. From April through September 2024, pursuant to the Plan (see Note 14 above), the Company granted an aggregate of 645,000 options to seven employees with an aggregate fair value of $761,467; the options vest at a rate of twenty -fivepercent after one year of service, and then in equal installments over thirty -sixsubsequent months, and have a maximum term of ten years. Loan Conversions In January 2024, in exchange for the conversion of borrowings of $710,000 (including interest payable of $110,000), the Company issued 881,209 common shares at a fair value of $0.8057 per share for a total value of $710,000 to a related party debt holder. In January 2024, in exchange for the conversion of borrowings of $500,000, the Company issued 620,570 common shares at a fair value of $0.8057 per share for a total value of $500,000 to a related party debt holder. Amendment to the Certificate of Incorporation In June 2024, the shareholders of the Company voted to amend and restate the Certificate of Incorporation of the Company; such amendment will change the capital structure of the Company to authorize 145,000,000shares of common stock, of which 120,000,000shares will be Class A Common Stock and 25,000,000shares will be Class B Common Stock. Business Combination In June 2024, the Board of Directors of the Company entered into a Business Combination Agreement (“BCA”) with Goldenstone Acquisition Limited, a Delaware corporation (“Goldenstone”), a wholly owned direct subsidiary of Goldenstone (“Merger Sub”), the Corporation, and Yan (Chris) Feng, solely in his capacity as representative, agent and attorney -in-factof the Company Securityholders (as such term is defined in the BCA), pursuant to which Merger Sub will merge with and into the Corporation (the “Merger”), with the Corporation surviving the Merger as a wholly owned subsidiary of Goldenstone, and Goldenstone will change its name to “infintium Fuel Cell Systems Inc.”, which will continue as a public corporation after the closing of the Merger. F-69 INFINTIUM FUEL CELL SYSTEMS, INC.
NOTES TO FINANCIAL STATEMENTS NOTE 19 — SUBSEQUENT EVENTS (cont.) Additional Borrowings In April 2024, the Company entered into a short -termpromissory