Company: GDSTR
Filing Date: 2025-05-14
Form Type: S-4/A
Source: 0001213900-25-043297
Chunk: 237

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-05-14
Form: S-4/A
Chunk 237
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 year ended December 31, 2023. The decrease was mainly due to improved collection efforts and a more cautious approach to entering credit terms with our customer in 2024.

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Other (Expense) Income Other (expense) income primarily consists of interest expense and other income (expense), net. Other expense, net for the year ended December 31, 2024 was approximately $21,000 as compared to other expense of approximately $75,000 for the year ended December 31, 2023. The decrease was mainly driven by a reduction in interest expense of approximately $39,000, primarily due to the full repayment of a finance lease. Additionally, the decrease was offset by an increase in other income, net, of approximately $15,000, which resulted from higher credit card reward redemptions. Provision for Income Taxes We did not incur income tax expense for the years ended December 31, 2024 and 2023 as we had operating losses. Net Loss We incurred a net loss of approximately $7.5 million for the year ended December 31, 2024, as compared to a net loss of approximately $5.2 million for the year ended December 31, 2023. This change was the result of the combination of the changes as discussed above. Liquidity and Working Capital At December 31, 2024, we had cash on hand of $6,026,829 and a working deficit of $824,147, as compared to cash on hand of $876,407 and working capital of $1,243,806 at December 31, 2023. In assessing our liquidity, we monitor and analyze our cash -on-handand operating and capital expenditure commitments. To date, we have financed our working capital requirements mainly through a combination of ownership contributions, proceeds from loans payables, advances from related parties and the issuance of common stock. Our ability to continue as a going concern is dependent on many factors, including, among other things, the ability to comply with the covenants in its existing debt agreements and the ability to pay, retire, amend, replace, or refinance indebtedness as defaults occur or as interest and principal payments come due. Despite the terms of the ownership contributions and our current operations and expectations for continued growth, we believe that cash generated from operating activities will not be adequate to meet current and expected operating needs, anticipated capital investment and debt service obligations for the next twelve months from the issuance date of these financial statements. Management estimates that we