Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 18

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 18
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ellers’ business may have a material and adverse impact 
 on our resellers’ business, financial condition, and results of operations.                                                    |

Risks Related to PubCo Operating as a Public Company

| ● | GCL                                                                       
 Group’s management team has limited experience managing a public company. |

| ● | In                                                                                                                                  
 connection with the preparation of the Company’s consolidated financial statements for fiscal years 2025, the Company identified    
 material weaknesses in its internal control over financial reporting, as defined in the standards established by the PCAOB. Failure 
 to maintain effective internal controls over financial reporting could have a material adverse effect on GCL’s business, operating  
 results and stock price.                                                                                                            |

| ● | If                                                                                                                                      
 GCL ceases to qualify as a foreign private issuer, it would be required to comply fully with the reporting requirements of the Exchange 
 Act applicable to U.S. domestic issuers, and it would incur significant additional legal, accounting, and other expenses that it        
 would not incur as a foreign private issuer.                                                                                            |

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| ● | Because                                                                                          
 GCL is a foreign private issuer and is exempt from certain Nasdaq corporate governance standards 
 applicable to U.S. issuers, you will have less protection than you would have if it were         
 a domestic issuer.                                                                               |

| ● | Although                                                                                          
 as a foreign private issuer, GCL is exempt from certain corporate governance standards applicable 
 to US domestic issuers, if GCL cannot continue to satisfy the listing requirements and other      
 rules of Nasdaq, GCL’s securities may be delisted, which could negatively affect the              
 price of its securities and your ability to sell them.                                            |

| ● | You                                                                                                                                     
 may face difficulties in protecting your interests, and your ability to protect your rights through U.S. courts may be limited, because 
 GCL is incorporated under Cayman Islands law.                                                                                           |

| ● | As                                                                                                                            
 a “controlled company” under the Nasdaq rules, GCL may choose to exempt itself from certain corporate governance requirements 
 that could have an adverse effect on our public shareholders.                                                                 |

| ● | GCL                                                                                                                            
 is deemed to be an “emerging growth company” and, as a result of the reduced disclosure and governance requirements applicable 
 to emerging growth companies, GCL’s Ordinary Shares may be less attractive to investors.                                       |

Risks Related to Our Securities Risks and uncertainties relating to our securities include, but are not limited to, the following: