Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 359

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 359
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 engaged
to perform, an audit of its internal control over financial reporting. As part of our audits 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 audits 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 audits 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 audits provide a reasonable basis for our opinion.

/s/ Marcum LLP

Marcum LLP

We have served as the Company’s auditor since 2021.

Boston, MA

February 13, 2025

<div align='center'>F-96

RF ACQUISITION CORP.

BALANCE SHEETS</div>

| ASSETS                                                                                                                                                                                                                              
 Current assets                                                                                                                                                                                                                      |     | December 31, 
 2024         |            |   |     | December 31, 
 2023         |            |   |
|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:-------------|-----------:|:--|:----|:-------------|-----------:|:--|
| Cash                                                                                                                                                                                                                                |     | $            |     40,511 |   |     | $            |    188,235 |   |
| Prepaid expenses - Current                                                                                                                                                                                                          |     |              |        500 |   |     |              |     57,967 |   |
| Franchise tax receivable                                                                                                                                                                                                            |     |              |      3,650 |   |     |              |          — |   |
| Income tax receivable                                                                                                                                                                                                               |     |              |     50,470 |   |     |              |          — |   |
| Total Current Assets                                                                                                                                                                                                                |     |              |     95,131 |   |     |              |    246,202 |   |
| Investments held in Trust Account                                                                                                                                                                                                   |     |              | 18,084,445 |   |     |              | 29,718,024 |   |
| TOTAL ASSETS                                                                                                                                                                                                                        |     | $            | 18,179,576 |   |     | $            |