Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 213

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 213
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quired 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.

The Company concluded that the acquisition of
2Game was not significant based on assessments using the income test, asset test, and investment test pursuant to S-X Rule 3-05. Pursuant
to ASC 805-10-50-2 (h). the unaudited pro forma information of the Company for the year ended March 31, 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:

|                                |     | 2023 |              For the 
 Year ended March 31, |     | 2022 |              For the 
 Year ended March 31, |
|:-------------------------------|:----|:-----|---------------------:|:----|:-----|---------------------:|
| Unaudited pro forma revenue    |     | $    |           77,444,155 |     | $    |           65,827,057 |
| Unaudited pro forma net income |     | $    |            2,140,643 |     | $    |            4,586,525 |

| Cash                                      |     | $ |     6,550 |
| *Contingent consideration for acquisition |     |   | 3,360,848 |
| Total consideration at fair value         |     | $ | 3,367,398 |

| * | As of the acquisition date of 2Game, the fair value of the contingent consideration for acquisition                                        
 was determined to be $3,360,848, which included around $55,000 outperformance consideration. Subsequently, the