Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 353

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 353
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NOTES TO FINANCIAL STATEMENTS
(Unaudited) NOTE 2 — BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying value exceeds the fair value of the assets, which is based on a discounted cash flow model. As of March 31, 2025 and December 31, 2024, no assets were impaired. Assets to be disposed of are reported at the lower of the carrying amount or fair value less cost to sell. Leases With the adoption of Financial Accounting Standards Board (“FASB”) Accounting Standard Codification (“ASC”) 842 — Accounting for Leases(“ASC 842”), operating lease agreements are required to be recognized on the balance sheet as Right -of-Use(“ROU”) assets and corresponding lease liabilities. ROU assets include any prepaid lease payments and exclude any lease incentives and initial direct costs incurred. Lease expense for minimum lease payments is recognized on a straight -linebasis over the lease term. The lease terms may include options to extend or terminate the lease if it is reasonably certain that the Company will exercise that option. Fair Value Measurement The Company measures the fair value of financial assets and liabilities based on the guidance of ASC 820 “Fair Value Measurements” (“ASC 820”), which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 820 describes three levels of inputs that may be used to measure fair value: •Level 1 — Quoted prices in active markets for identical assets or liabilities; •Level 2 — Quoted prices for similar assets and liabilities in active markets or inputs that are observable; and •Level 3 — Inputs that are unobservable (for example, cash flow modeling inputs based on assumptions). Revenue Recognition Revenue is accounted for in accordance with ASC 606 — Revenue from Contracts with Customers(“ASC 606”). Revenue is recognized as control of goods and/or services are transferred to customers