Company: GDSTR
Filing Date: 2025-06-20
Form Type: S-4/A
Source: 0001213900-25-055744
Chunk: 352

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-06-20
Form: S-4/A
Chunk 352
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 balances are reviewed quarterly or more frequently if circumstances warrant, such as significant changes in the aging of receivables or a customer’s financial condition. Write -offsare recorded when a receivable is deemed uncollectible and collection efforts have been exhausted. As of March 31, 2025 and December 31, 2024, the Company determined that an allowance for expected credit losses was not necessary based on historical collection trends and customer credit evaluations and the balance was $0. Inventory, net Finished goods, work -in-process, and raw materials inventories are valued at the lower of cost or net realizable value, as determined by the moving average unit cost method. Manufacturing and maintenance supplies are held for resale or consumed in production. These supplies are valued at the lower of cost or market; inventory costs include material, labor, and manufacturing overhead. The need for a provision for estimated losses from obsolete, excess or slow -movinginventories is reviewed periodically. Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consist of prepayments to service providers, prepayments to vendors, and security deposits for business combination. Contract Assets Contract assets represent the warrant fair value associated with the vested Warrants Shares (as defined in Note 14) in excess of the sales discounts recognized as a reduction to revenue based on the Company’s estimate of revenue over the term of the warrant agreement. As of March 31, 2025 and December 31, 2024, contract assets amounted to $6,053,507 and $0, respectively. Property and Equipment Property, plant and equipment additions are recorded at cost, including applicable freight, interest, construction and installation costs. Depreciation and amortization are recorded on a straight -linebasis over the estimate useful lives of the assets. The following table shows estimated useful lives of property and equipment:

| Classification         |     | Estimated                                                     
 Useful Lives                                                  |
| Equipment              |     | 3 to 10 years                                                 |
| Tools                  |     | 3 years                                                       |
| Leasehold improvements |     | Shorter of the lease term or expected life of the improvement |

Gains and losses on the retirement of assets are included in operating income. Long -livedassets are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Recoverability of assets that are held and used is measured by net undiscounted cash flows expected to be

F-33 INFINTIUM FUEL CELL SYSTEMS, INC