Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 261

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 261
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 to Debbie. On April 12, 2023, the acquisition of starry
was completed (“Acquisition date”), and 17,648 shares of Titan Digital’s ordinary shares has been issued to Debbie.

The Company’s acquisition of Starry was accounted
for as a business combination in accordance with ASC 805. The Company has allocated the purchase price of Starry 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 Starry 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 actually 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           |     | $ |     97,534,701 |   |     | $ |     78,051,283 |
| Unaudited pro forma net (loss) income |     | $ |     (