Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 214

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 214
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1,106,586. For the year ended December 31, 2022, there was $5,292,178 of cash used in operating activities resulting from a net loss of $5,331,359, adjustments to reconcile net loss to net cash used of i) depreciation and amortization expense of $136,472, ii) a credit loss reserve of $107,753, iii) stock -basedcompensation of $689,102, iv) an inventory

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obsolescence provision of $426,919 and v) amortization of a right -of-useasset of $73,119, as well as changes in operating assets and liabilities of i) an increase in inventory, net of $111,809, ii) a decrease in accounts payable of $1,405,760, iii) a decrease in accrued expenses and other current liabilities of $27,337 and iv) a decrease in a lease liability of $65,518, offset by v) a decrease in accounts receivable of $177,642 and vi) a decrease in prepaid expenses of $254,104. Cash Flows from Investing Activities For the year ended December 31, 2023, there was $47,225 of cash provided by investing activities resulting from the proceed from the sale of property and equipment of $60,000, offset by the purchase of property and equipment for $12,775. For the year ended December 31, 2022, there was $45,921 of cash used in investing activities resulting from the purchase of property and equipment for $45,921. Cash Flows from Financing Activities For the year ended December 31, 2023, there was $2,392,937 of cash provided by financing activities resulting from proceeds from investor financing from both related and non -relatedparties of $3,562,937, offset by the repayment of loans payable from both related and non -relatedparties of $1,170,000. For the year ended December 31, 2022, there was $5,556,635 of cash provided by financing activities resulting from proceeds from the issuance of shares of $1,000,000, proceeds from investor financing from both related and non -relatedparties of $6,196,635, offset by the repayment of loans payable from both related and non -relatedparties of $1,640,000. Nine Months Ended September 30, 2024 compared to Nine Months Ended September 30, 202