Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 379

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 379
---
 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 the Company has 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 September 30, 2024 and December 31, 2023, 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. F-75

INFINTIUM FUEL CELL SYSTEMS, INC.
NOTES TO FINANCIAL STATEMENTS
(Unaudited) NOTE 2 — BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) Accounts Receivable, net 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 expected losses, including consideration of general economic conditions. Outstanding accounts receivable balances are reviewed quarterly or more frequently when circumstances indicate a review is warranted, for example if there is a significant change in the aging of the Company’s receivables or a customer’s financial condition. Write -offsare recorded at the time a customer receivable is deemed uncollectible and collection