Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 215

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 215
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 penalties against such party. Where a foreign judgment is obtained in a court of law outside of Singapore, the party seeking enforcement may have to register the foreign judgment with the High Court of Singapore before it can be enforced in Singapore.

With respect to the registration of a foreign judgment, it is noted that Singapore does not have treaties providing for the reciprocal recognition and enforcement of judgments of courts with United States. Further, it is unclear if extradition treaties currently in effect between the United States and Singapore would permit enforcement of criminal penalties of U.S. federal securities laws. In this case, the judgment creditor may be required to commence an action for the recovery of judgment debt in the Singapore courts under common laws to recognize and enforce the judgment.

As a general matter, the interpretation and enforcement of laws and regulations in Singapore involve a certain degree of uncertainty. As local administrative and court authorities and in certain cases, independent organizations, have significant discretion in interpreting and implementing statutory provisions and contractual terms, it may be difficult to evaluate the outcome of administrative and court proceedings and the level of legal protection that our Company and its subsidiaries may enjoy in the locations that they operate in. Moreover, the local courts may have broad discretion to reject enforcement of foreign awards. These uncertainties may affect our Company and its subsidiaries’ judgment on the relevance of legal requirements and their ability to enforce contractual rights or tort claims. In addition, the regulatory uncertainties may be exploited through unmerited or frivolous legal actions or threats in attempts to exact payments or benefits from our Company and its subsidiaries.

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INDEX TO FINANCIAL STATEMENTS</div>

|                                                                                                                                       |     | Page  |
| GCL GLOBAL HOLDINGS LTD                                                                                                               |     |       |
| Audited Financial Statements                                                                                                          |     |       |
| Report of Independent Registered Public Accounting Firm (Marcum Asia CPAs LLP, PCAOB ID 5395)                                         |     | F-2   |
| Balance Sheet as of March 31, 2024                                                                                                    |     | F-3   |
| Statement of Operations from October 12, 2023 (inception) through March 31, 2024                                                      |     | F-4   |
| Statement of Changes in Shareholders’ Deficit from October 12, 2023 (inception) through March 31, 2024                                |     | F-5   |
| Statement of Cash Flows from October 12, 2023 (inception) through March 31, 2024                                                      |