Company: GCL
Filing Date: 2025-02-26
Form Type: 20-F
Source: 0001213900-25-017448
Chunk: 6

Company: GCL Global Holdings Ltd
Filing Date: 2025-02-26
Form: 20-F
Item: Item 5
Chunk 6
---
, and are included
in reliance upon such report given on the authority of such firm as experts in accounting and auditing. The address of Marcum Asia CPA
LLP is 7 Penn Plaza, Suite 830, New York, New York, 10001, United States.

The financial statements of RFAC as of and for the years ended December 31, 2024 and 2023 incorporated by reference in this Report have
been so incorporated by reference in reliance upon such report of Marcum LLP, an independent registered public accounting firm (which
report contains an explanatory paragraph regarding the ability of RFAC to continue as a going concern), upon the authority of the said
firm as expert in accounting and auditing.

H. Documents
on Display

We
are subject to certain of the informational filing requirements of the Exchange Act. Since we are a “foreign private issuer,”
our officers, directors and principal shareholders are exempt from the reporting and “short-swing” profit recovery provisions
contained in Section 16 of the Exchange Act, with respect to their purchase and sale of our equity securities. In addition, we are not
required to file reports and financial statements with the SEC as frequently or as promptly as U. S. companies whose securities are registered
under the Exchange Act. However, we are required to file with the SEC an Annual Report on Form 20-F containing financial statements audited
by an independent accounting firm. We will also furnish to the SEC, on Form 6-K, unaudited half-yearly financial information. Information
filed with or furnished to the SEC by us will be available on our website. On December 31, 2024, the Company and RFAC furnished to its
shareholders a proxy statement/prospectus relating to the Business Combination. The SEC also maintains a website at www. sec. gov

I. Subsidiary Information

Not applicable.

ITEM 11. QUANTITATIVE
AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The
information set forth in the section entitled “ PubCo’s Management’s Discussion and Analysis of Financial Condition
and Results of Operations

ITEM 12. DESCRIPTION
OF SECURITIES OTHER THAN EQUITY SECURITIES

Not
applicable.

PART II