Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 82

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 82
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 financial position of the post-combination company.

The unaudited pro forma condensed
combined financial information does not give effect to any anticipated synergies, operating efficiencies, tax savings or cost savings
that may be associated with the Business Combination.

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Note 2 — Accounting Policies

Upon consummation of the Business
Combination, management performed a comprehensive review of the two entities’ accounting policies. As a result of the review, management
may identify differences between the accounting policies of the two entities which, when conformed, could have a material impact on the
financial statements of the Post-Combination Company. Based on its initial analysis, management did not identify any differences
that would have a material impact on the unaudited pro forma condensed combined financial information. As a result, the unaudited pro
forma condensed combined financial information does not assume any differences in accounting policies.

Note 3 — Adjustments to Unaudited Pro Forma Condensed Combined Financial Information

The unaudited pro forma
condensed combined financial information has been prepared to illustrate the effect of the Business Combination and has been prepared
for informational purposes only.

The following unaudited pro forma
condensed combined financial information has been prepared in accordance with Article 11 of Regulation S-X as amended by the
final rule, Release No. 33-10786 “Amendments to Financial Disclosures about Acquired and Disposed Businesses.” Release No.
33-10786 replaces the existing pro forma adjustment criteria with simplified requirements to depict the accounting for the transaction
(“Transaction Accounting Adjustments”) and other transaction
effects that have occurred or are reasonably expected to occur (“Management’s Adjustments”). GCL Global
has elected not to present Management’s Adjustments and will only be presenting Transaction Accounting Adjustments in the following
unaudited pro forma condensed combined financial information.

Transaction Accounting Adjustments to Unaudited Pro Forma Condensed Combined Balance Sheet

The transaction accounting
adjustments included in the unaudited pro forma condensed combined balance sheet as of September 30, 2024 are as follows:

| (B) | Reflected additional draw down of $299,113 from non-interest-bearing 
 promissory note - related party subsequent to June 30, 2024;         |

| (C) | Reflected the redemption of 1,170,280 shares of RFAC’s common                                                                             
 stock by RFAC’s stockholders at a redemption price of approximately $11