Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 367

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 367
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-current, shareholders              |     |   |   200,000 |     |   | 6,141,510 |
| Loans payable – related party, current, lenders                       |     |   |   300,000 |     |   |         — |
| Total loans payable – related party                                   |     | $ | 1,705,951 |     | $ | 7,347,461 |

F-62 INFINTIUM FUEL CELL SYSTEMS, INC.
NOTES TO FINANCIAL STATEMENTS NOTE 10 — LOANS PAYABLE — RELATED PARTY (cont.) Loan Payable — related party, limited liability company In March 2020, the Company entered into a promissory note with a related party limited liability company controlled by the Company’s ultimate major shareholder, with proceeds to the Company of $1,205,951 and an interest rate of zero percent. As of December 31, 2023 and 2022, the balance of the related party loan payable is $1,205,951 as of both dates. Loan payable — related party, shareholders During 2021, the Company entered into a technology development loan agreement with a related party entity, shareholder A, with proceeds to the Company of $1,584,906 and an interest rate of zero percent; the balance of the loan as of December 31, 2021 was this same amount. During 2022, the Company received an additional loan from such related party entity in the amount of $4,556,604 and an interest rate of zero percent, for a total outstanding amount of $6,141,510 as of December 31, 2022. On December 31, 2023, the shareholder and the Company entered into loan conversion agreements, whereby the entire amount of the loan of $6,141,510 was converted into shares of common stock at a price per share of $0.8057 for an aggregate number of shares of 7,622,470. Upon conversion, the note is deemed to be repaid in full and the Company has no further obligation in connection with this loan to the entity or the five individual investors; as of December 31, 2023, the balance of the related party loan payable is zero. In April 2022, the Company entered into a promissory note with the same related party entity, shareholder A, with proceeds to the Company in April 2022 and July 2022 of $250,000 and $200