Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 356

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 356
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 |     |               |         — |     |        |   — |     |               | — |     |        | — |     |            | — |     |             | (1,015,914 | ) |     |               | (1,015,914 | ) |
| Excise tax on stockholder redemption                   |     |               |         — |     |        |   — |     |               | — |     |        | — |     |            | — |     |             | (131,365   | ) |     |               | (131,365   | ) |
| Balance—December 31, 2024                              |     |               | 3,075,000 |     | $      | 308 |     |               | — |     | $      | — |     | $          | — |     | $           | (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   | )