Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 259

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 259
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 2023
set forth below gives effect to the business combination as if it had occurred on April 1, 2022 and combines the results of operations
of the Company since then. The unaudited pro forma information is presented after applying the Company’s accounting policies and
elimination intra-entity transactions, as applicable. The unaudited pro forma information does not include any impact of transaction
synergies and is presented for informational purposes only and is not necessarily indicative of the results of operations that would
actually have been occurred had the business combination been consummated as of that time or that may result in the future:

|                                |     | For the 
 2023    | Year ended March 31, |     | For the 
 2022    | Year ended March 31, |
|:-------------------------------|:----|:--------|---------------------:|:----|:--------|---------------------:|
| Unaudited pro forma revenue    |     | $       |           77,444,155 |     | $       |           65,827,057 |
| Unaudited pro forma net income |     | $       |            2,140,643 |     | $       |            4,586,525 |

| Cash                                      |     | $ |     6,550 |
| *Contingent consideration for acquisition |     |   | 3,360,848 |
| Total consideration at fair value         |     | $ | 3,367,398 |

| * | As of the acquisition date                                                                 
 of 2Game, the fair value of the contingent consideration for acquisition was determined to 
 be $3,360,848, which included around $55,000 outperformance consideration. Subsequently,   
 the change of fair value of the contingent consideration for acquisition was amounted to   
 a loss $545,428, $272,029 and $932,152 for the years ended March 31, 2025, 2024            
 and 2023, respectively. As March 31, 2025, the fair value of contingent consideration      
 for acquisition was amounted to $1,121,006. As of March 31, 2024, the fair value of        
 contingent consideration for acquisition amounted to $3,697,000, of which $2,319,000 and   
 $1,378,000 were recognized at current and non-current portion at the consolidated balance  
 sheets, respectively. The fair value of the