Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 353

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 353
---
ium is a developer and provider of advanced hydrogen fuel cell (“HFC”) technologies and power systems built upon proton exchange membranes (“PEM”) for heavy transportation applications; the Company engages in the design, engineering, commercialization, manufacturing, marketing, sales and after -saleservices of its HFC systems, which are sold and deployed in large factories and warehouses primarily for material handling applications for its automotive, industrial and retail distribution customers. The Company’s mission is to develop reliable, innovative, and efficient HFCs to accelerate the development of the hydrogen economy for clean energy transition. NOTE 2 — BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying audited financial statements of the Company have been prepared in accordance with the generally accepted accounting principles in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). The Company’s fiscal year end date is December 31. Use of Estimates The financial statements have been prepared in accordance with U.S. GAAP and include amounts based on estimates and assumptions by management. Actual results could differ from those amounts. Significant estimates include amounts for warranty reserves, inventory reserves, allowances for credit losses and stock -basedcompensation expense. Segments The Company uses the management approach in determining reportable operating segments. The management approach considers the internal reporting used by our chief operating decision maker for making operating decisions about the allocation of resources and the assessment of performance in determining our reportable operating segments. Management has determined that we have one operating segment. Cash and Cash Equivalents Cash and cash equivalents include time deposits and other investments that are highly liquid with original maturities of three months or less when purchased. As of December 31, 2023 and 2022, the Company had no cash equivalents. The Company may maintain bank balances in excess of $250,000, which is currently the maximum amount insured by the Federal Deposit Insurance Corporation (“FDIC”) for interest bearing accounts. The Company has not experienced any losses with respect to cash. Management believes the Company is not exposed to any significant credit risk with respect to its cash. Accounts Receivable Accounts receivable is stated at the net amount expected to be collected. All customers are granted credit on a short -termbasis and related credit risks are considered minimal. The Company maintains an allowance for expected credit losses resulting from the inability of its customers to make required payments. The Company’s allowance is established based on historical patterns of accounts receivable collections and