Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 217

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 217
---
 require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements
are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged to perform,
an audit of its internal control over financial reporting. As part of our audit we are required to obtain an understanding of internal
control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control
over financial reporting. Accordingly, we express no such opinion.

Our audit included performing procedures to assess
the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

/s/ Marcum Asia CPAs LLP

Marcum Asia CPAs LLP
We have served as the Company’s auditor since 2024.

New York, New York
November 12, 2024

<div align='center'>NEW YORK OFFICE ● 7 Penn Plaza ● Suite
830 ● New York, New York ● 10001
Phone 646.442.4845 ● Fax 646.349.5200 ● www.marcumasia.com

F-2

GCL GLOBGAL HOLDINGS LTD

BALANCE SHEET
(Amounts in U.S. Dollars, except for number of shares)</div>

|                                                                                                   |     | As of     
 March 31, 
 2024      |        |   |
|:--------------------------------------------------------------------------------------------------|:----|:----------|-------:|:--|
| LIABILITY AND SHAREHOLDERS’ DEFICIT                                                               |     |           |        |   |
| Current liability                                                                                 |     |           |        |   |
| Due to a related party                                                                            |     | $         |  4,619 |   |
| Total liability                                                                                   |     |           |  4,619 |   |
| Shareholders’ deficit                                                                             |     |           |        |   |
| Ordinary Shares, $0.0001 par value, 500,000,000 shares authorized, 1 share issued and outstanding |     |           |        |   |
| Accumulated deficit                                                                               |     |