Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 213

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 213
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 |   |     8,447,876 |     |   |    1,863,660 |
| Working capital deficiency |     | $ |     2,454,182 |     | $ |    2,449,757 |

Cash Flows Year Ended December 31, 2023 compared to Year Ended December 31, 2022

|                                                     |     | Years Ended  
 December 31, |       2023 |   |     |   |       2022 |   |
|:----------------------------------------------------|:----|:-------------|-----------:|:--|:----|:--|-----------:|:--|
| Net cash used in operating activities               |     | $            | (2,109,437 | ) |     | $ | (5,292,178 | ) |
| Net cash provided by (used in) investing activities |     |              |     47,225 |   |     |   |    (45,921 | ) |
| Net cash provided by financing activities           |     |              |  2,392,937 |   |     |   |  5,556,635 |   |
| Net change in cash                                  |     | $            |    330,725 |   |     | $ |    218,536 |   |

Cash Flows from Operating Activities For the year ended December 31, 2023, there was $2,109,437 of cash used in operating activities resulting from a net loss of $5,195,359, adjustments to reconcile net loss to net cash used of i) depreciation and amortization expense of $274,157, ii) stock -basedcompensation of $840,651, iii) an inventory obsolescence provision of $112,982, iv) a gain on sale of property and equipment of $761 and v) amortization of a right -of-useasset of $75,648, as well as changes in operating assets and liabilities of i) an increase in accounts receivable of $377,598, ii) an increase in prepaid expenses and other current assets of $52,614, iii) a decrease in accrued expenses and other current liabilities of $237,038 and iv) a decrease in a lease liability of $73,368, offset by v) a decrease in inventory of $1,237,672, vi) an increase in accounts payable of $405,570 and vii) deferred service revenue of $