Company: GCL
Filing Date: 2025-09-04
Form Type: F-1
Source: 0001213900-25-084489
Chunk: 229

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-04
Form: F-1
Chunk 229
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 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.

|                                |     | For the 
 2023    | Year ended March 31, |     | For the 
 2022    | 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 change of fair value of the contingent consideration for acquisition was amounted to a loss $545,428, $272,029 and $932,152 for the years ended March 31, 2025, 2024 and 2023, respectively. As March 31, 2025, the fair value of contingent consideration for acquisition was amounted to $1,121,006. As of March 31, 2024, the fair value of contingent consideration for acquisition amounted to $3,697,000, of which $2,319,000 and $1,378,000 were recognized at current and non-current portion at the consolidated balance sheets, respectively. The fair value of the contingent consideration as of March 31,