Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 266

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 266
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 of the date of the issuance of these financial
statements, the Company had issued 53,711 of its ordinary shares to the Vendors and paid $148,000 in cash consideration as agreed upon
in Tranche 2 payment terms.

The Company’s acquisition of Martiangear was
accounted for as a business combination in accordance with ASC 805. The Company has allocated the purchase price of Martiangear based
upon the fair value of the identifiable assets acquired and liabilities assumed on the acquisition date. The Company estimated the fair
values of the assets acquired and liabilities assumed at the acquisition date in accordance with the business combination standard issued
by the FASB using the fair value approach. Management of the Company is responsible for determining the fair value of assets acquired,
liabilities assumed, and intangible assets identified as of the acquisition date. Acquisition-related costs incurred for the acquisitions
are not material and have been expensed as incurred in general and administrative expenses.

Based on assessments using the income test, asset
test, and investment test pursuant to S-X Rule 3-05, the Company concluded that the acquisition of Martiangear was not significant.
Pursuant to ASC 805-10-50-2 (h). the unaudited pro forma information of the Company for the years ended March 31, 2024
and 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 have been occurred had the business combination been consummated as of that time or that may result in the future:

|                                       |     |   |   For the year 
          ended 
 March 31, 2024 |   |     |   |   For the year 
          ended 
 March 31, 2023 |
|:--------------------------------------|:----|:--|---------------:|:--|:----|:--|---------------:|
| Unaudited pro forma revenue           |     | $ |     97,576,855 |   |     | $ |     77,724,857 |
| Unaudited pro forma net (