Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 325

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 325
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 for issuance. The amendments
in this Update should be applied on a prospective basis. Retrospective application is permitted. The Company is currently evaluating
the impact the adoption of ASU 2023-07 will have on its annual and interim disclosures. The Company is currently evaluating the impact
of the update on Company’s unaudited condensed consolidated financial statements and related disclosures.

<div align='center'>F-76

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

Except
as mentioned above, the Company does not believe other recently issued but not yet effective accounting standards, if currently adopted,
would have a material effect on the Company’s consolidated balance sheets, statements of operations and comprehensive loss and
statements of cash flows.

Note 3 — Business Combination

— Acquisition of Starry

On
April 12, 2023, the Company, through its subsidiary, Titan Digital, entered into a sale and purchase agreements (“SPA1”)
with Debbie Soon Rui Yi (“Debbie”), a related party who is the spouse of Jianhao Tan, the CEO of Titan Digital, to acquire
100% equity interest in Starry. Starry was incorporated in Singapore on June 16, 2020, and its principal activities mainly include
distribution of Jewelry. Pursuant to the SPA1, Titan digital is obligated to issue 17,648 or 15% of Titan Digital’s ordinary shares
to Debbie. On April 12, 2023, the acquisition of starry was completed (“Acquisition date”), and 17,648 shares of Titan
Digital’s ordinary shares were 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 were not material and were expensed as incurred in general and administrative expenses.

Based
on assessments using the income test, asset test, and investment test pursuant to S-X