Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 227

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 227
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  Jianhao Tan                CEO of Titan Digital                                                 264,506                -                       2,911  
                                                             $                                  1,509,405      $         42,477      $         663,896  

Cost of revenue from related parties

                                                                                             For the years ended March 31,                                                            
  Name of Related Party      Relationship                    Relationship                    2025                                               2024                                  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  SEGA Corporation           Shareholder of the Company      Shareholder of the Company      $                                  15,596,454      $         17,578,879      12,388,590  
  Jianhao Tan                CEO of Titan Digital            CEO of Titan Digital                                                  237,311                   667,336         604,258  
                                                                                             $                                  15,833,765      $         18,246,215      12,992,848  

Note 19 - Shareholders’ equity

Ordinary shares

GCL Global was established under the laws of Cayman Islands on September
8, 2023, and authorized to issue150,000,000shares with a par value of $$0.0001. On February 13, 2024, the Company completed its
Reorganization under GCL Global with a sequential two-step transaction (see Note 1). On February 13, 2025, the Company completed its reverse
recapitalization under Pubco through consummating the Business Combination contemplated by the Merger
Agreement (See Note 3). All of the outstanding ordinary shares is presented on the basis as if the reverse recapitalization under
Pubco became effective as of the beginning of the first period presented on April 1, 2022. The shares and corresponding capital amounts
and all per share data related to GCL Global’s outstanding ordinary shares prior to the Reverse Recapitalization in the accompanying
consolidated financial statements have been retroactively adjusted using the Exchange Ratio of1for4.0536.

Settlement of Mezzanine Equity

On November 22, 2023,466,164ordinary shares subject to possible redemption in temporary equity were fully redeemed for cash consideration of $163,905.

On February 13, 2025,217,724ordinary shares were reclassified from mezzanine equity to permanent equity in connection with the settlement of the Tr