Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 360

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 360
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           | (7,474,250 | ) |     | $             | (7,473,942 | ) |

<div align='center'>The accompanying notes are an integral part of the audited financial statements.

F-99

RF ACQUISITION CORP.

STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT

FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2023</div>

|                                                            |     | Class A       
 Common Shares 
 Shares        |           |     | Amount |     |     | Class B       
 Common Shares 
 Shares        |            |   |     | Amount |      |   |     | Additional 
 Paid-in    
 Capital    |   |     | Accumulated 
 Deficit     |            |   |     | Total         
 Stockholders’ 
 Deficit       |            |   |
|:-----------------------------------------------------------|:----|:--------------|----------:|:----|:-------|----:|:----|:--------------|-----------:|:--|:----|:-------|-----:|:--|:----|:-----------|:--|:----|:------------|:-----------|:--|:----|:--------------|:-----------|:--|
| Balance—December 31, 2022                                  |     |               |   200,000 |     | $      |  20 |     |               |  2,875,000 |   |     | $      |  288 |   |     | $          | — |     | $           | (152,238   | ) |     | $             | (151,930   | ) |
| Conversion of Class B common stock to Class A common stock |     |               | 2,875,000 |     |        | 288 |     |               | (2,875,000 | ) |     |        | (288 | ) |     |            | — |     |             | —          |   |     |               | —          |   |
| Accretion of Class A common stock to redemption amount     |     |               |         — |     |        |   — |     |               |          — |   |     |        |    — |   |     |            | — |     |             | (3,056,238 | ) |     |               | (3,056,238 | ) |
| Net loss for the period                                    |     |