Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 327

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 327
---
. On April 12, 2023, the acquisition of starry was completed (“Acquisition date”), and 17,648 shares of Titan
Digital’s ordinary shares were issued to Debbie.

The
Company’s acquisition of Starry was accounted for as a business combination in accordance with ASC 805. The Company has allocated
the purchase price of Starry based upon the fair value of the identifiable assets acquired and liabilities assumed on the acquisition
date. The Company estimated the fair values of the assets acquired 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 were not material and were expensed as incurred in general and administrative expenses.

Based
on assessments using the income test, asset test, and investment test pursuant to S-X Rule 3-05, the Company concluded that the
acquisition of Starry was not significant. Pursuant to ASC 805-10-50-2 (h). the unaudited pro forma information of the Company for the
six months ended September 30, 2024 and 2023 set forth below gives effect to the business combination as if it had occurred on April 1,
2023 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.

|                              |     | 2024 |         For the Six 
              Months 
 Ended September 30, |   |     | 2023 |                 For 
      the Six Months 
 Ended September 30, |   |
|:-----------------------------|:----|:-----|--------------------:|:--|:----|:-----|--------------------:|:--|
| Unaudited pro forma revenue  |     | $    |          50,905,705 |   |     | $    |          36,088,569 |   |
| Unaudited pro forma net loss |     |