Company: GDSTR
Filing Date: 2025-01-30
Form Type: S-4
Source: 0001213900-25-008051
Chunk: 354

Company: Goldenstone Acquisition Ltd.
Filing Date: 2025-01-30
Form: S-4
Chunk 354
---
 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 efforts have been exhausted. F-54

INFINTIUM FUEL CELL SYSTEMS, INC.
NOTES TO FINANCIAL STATEMENTS NOTE 2 — BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (cont.) Inventory, net Finished goods, work -in-process, and raw materials inventories are valued at the lower of cost or market, 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 subscription fees, down payments to vendors, and other miscellaneous payments and deposits. 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 generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured as the amount by which the carrying value exceeds the fair value of the assets, which is based on a discounted cash flow model. As of December 31, 2023 and 2022, no assets were impaired. Assets to be disposed of are reported at the lower of the carrying