Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 167

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 167
---
107,184,280                 105,013,283                 104,972,026  

  Giving retroactive effect to reverse recapitalization effected  
  on February 13, 2025.                                           
 ──────────────────────────────────────────────────────────────────

The accompanying notes are
an integral part of these consolidated financial statements.

F-4

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

CONSOLIDATED
STATEMENTS OF CHANGE IN SHAREHOLDERS’ EQUITY

For the Years Ended March 31, 2025, 2024 and 2023

(Stated in U. S. dollar, except for the number of shares)

  Balance as of March 31, 2022                                                               25,896,000       2,590          1,102,505      11,325,759       ( 3,524        23,774           12,451,104  
  Reverse recapitalization                                                                   79,076,376       7,908            ( 7,908      -                -              -                         -  
  Balance as of March 31, 2022                                                               104,972,376      10,498         1,094,597      11,325,759       ( 3,524        23,774           12,451,104  
  Net income                                                                                 -                -                      -      1,986,119        -              154,551           2,140,670  
  Recognition of non-controlling interest from acquisition of a subsidiary                   -                -                      -      -                -              2,590,000         2,590,000  
  Foreign currency translation adjustments                                                   -                -                      -      -                ( 25,336       ( 550              ( 25,886  
  Balance as of March 31, 2023                                                               104,972,376      10,498         1,094,597      13,311,878       ( 28,860       2,767,775        17,155,888  
  Recognition of non-controlling interest from acquisition of subsidiaries                   -                -                381,947      -                -              182,599             564,546  
  Accretion from change in fair value of ordinary shares subject to possible redemption      -                -               ( 12,652      -                -              -                  (