Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 236

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 236
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 of console game                                                 
 code                                                                           |     | 100% owned by 2Game         |

| (1) | On April 12, 2023, Titan Digital acquired a 100% equity interest in Starry from Debbie Soon Rui Yi (“Debbie”), the                  
 spouse of Jianhao Tan, the Chief Executive Officer (“CEO”) of Titan Digital, through issuance of 17,648 or 15% of Titan Digital’s   
 ordinary shares to Debbie. As a result, the Company’s equity interest in Titan Digital was reduced from 100% to 85% upon completion 
 of the acquisition of Starry. (see Note 3)                                                                                          |

<div align='center'>F-22

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

| (2) | On July 14, 2023, Starlight was dissolved due to cease operation since September 2021. |

| (3) | On September 4, 2023, Titan Digital acquired 100% equity interest of Martiangear from two third-party for cash consideration 
 of $148,000 and share consideration consisted of issuance of 53,711 ordinary shares by GCL BVI. (see Note 3)                 |

Note 2 — Summary of significant accounting policies

The consolidated financial statements have been
prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) pursuant
to the rules and regulations of the Securities Exchange Commission (“SEC”).

The consolidated financial statements include the
financial statements of the Company and its subsidiaries. All transactions and balances among the Company and its subsidiaries have been
eliminated upon consolidation.

A subsidiary is an entity in which the Company,
directly or indirectly, controls more than one half of the voting power; or has the power to govern the financial and operating policies,
to appoint or remove the majority of the members of the board of directors, or to cast a majority of votes at the meeting of directors.

The preparation of the consolidated financial statements
in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported amounts
of revenues and expenses during the periods presented. Significant accounting estimates reflected in the Company’s consolidated
financial statements include lease classification and liabilities, right-of-use assets, determinations of the useful