Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 228

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 228
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:

|                               |     |            | As of September 30, 
                2024 |     |   |     As of 
 March 31, 
      2024 |
|:------------------------------|:----|:-----------|--------------------:|:----|:--|----------:|
|                               |     | -Unaudited |                     |     |   |           |
| Epicsoft Asia Pte. Ltd(“EPA”) |     | $          |               6,569 |     | $ |     4,619 |

As of September 30, 2024 and
March 31, 2024, the balance due to a related party was comprised of incorporation expense paid by the Company’s related party and
was used for working capital during the Company’s ordinary course of business.

NOTE 5 — EQUITY

The authorized number of ordinary
shares of the Company is 500,000,000 shares with par value of US$0.0001 each. As of September 30, 2024 and March 31, 2024, the Company
had issued one ordinary share without consideration.

NOTE 6 — SUBSEQUENT EVENTS

The Company
has evaluated all events and transactions that occur after September 30, 2024, other than the event disclosed above and elsewhere in these
financial statements, there is no other subsequent event occurred that would require recognition or disclosure in the financial statements.

On January
2, 2025, GCL Sub 2, Inc was incorporated under the law of State of Delaware. GCL Sub 2, Inc is 100% owned by PubCo, and it only serve
the purpose of Spac Merger.

<div align='center'>F-15

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</div>

To the Shareholders and Board of Directors of GCL Global Limited

Opinion on the Financial Statements

We have audited the accompanying consolidated balance
sheets of GCL Global Limited (the “Company”) as of March 31, 2024 and 2023, the related consolidated statements of operations
and comprehensive income (loss), changes in shareholders’ equity and cash flows for each of the two years in the period ended
March 31, 2024, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial
statements present fairly, in all material respects, the financial position of the Company as of March 31,