Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 203

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 203
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4, and 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.

                                      For the                                                 For the  
                                      year ended March 31,                       year ended March 31,  
                                      2024                                                       2023  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────
  Unaudited pro forma revenue         $                          97,534,701               $78,051,283  
  Unaudited pro forma net income      $                         ( 1,960,956                $2,273,155  

The following tables summarizes the consideration
transferred to acquiring starry at the date of acquisition:

  Share issuance*                        $564,546  
  Total consideration at fair value      $564,546  

  The fair value of Titan’s share issuance on April 12, 2023                                                                           
  were estimated by applying discounted cash flow approach which considers the present value of Titan Digital’s future after-tax cash  
  flows using a 14.0% discount rate.                                                                                                   
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────

The following table summarizes
the fair value of the identifiable assets acquired and liabilities assumed at the acquisition date, which represents the net purchase
price allocation at the date of the acquisition of Starry:

                                    Fair value  
  Total consideration                 $564,546  
  Less: net assets of Starry:                   
  Cash                                 128,843  
  Inventory                             57,102  
  Prepaid expense                       34,202  
  Deposit Paid                             442  
  Intangible asset                     131,810  
  Total assets                         352,399  
  Accounts payable                     ( 9,796  
  Other payable                       ( 23,896  
  Deferred tax liability              ( 23,034  
  Total liabilities                   ( 56,726  
  Total net assets of Starry           295,