Company: GCL
Filing Date: 2025-09-05
Form Type: F-1/A
Source: 0001213900-25-085150
Chunk: 235

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-05
Form: F-1/A
Chunk 235
---
 a 13.5% equity interest of Cloushelf. As the Company does not have significant influence over Cloudshelf, the investment is accounted for in accordance with ASC 321, The investment is measured at cost, with subsequent remeasurement to fair value only upon impairment or when there are observable prince changes in orderly transactions for identical or similarly investments. As of March 31, 2025, no impairment indicators were identified, and no loss was recorded.

Note 6 — Accounts receivable, net

As of March 31, 2025 and 2024, accounts receivables
comprised of the following:

|                                                     |     | 2025 |  March 31, |   |     | 2024 |  March 31, |   |
|:----------------------------------------------------|:----|:-----|-----------:|:--|:----|:-----|-----------:|:--|
| Receivables from console game and console game code |     | $    | 23,121,281 |   |     | $    | 15,123,775 |   |
| Receivables from game publishing                    |     |      |  2,604,231 |   |     |      |  2,282,228 |   |
| Receivables from advertising service                |     |      |    285,127 |   |     |      |    332,540 |   |
| Less: Allowance for credit loss                     |     |      |   (248,956 | ) |     |      |   (325,457 | ) |
| Accounts receivable, net                            |     | $    | 25,761,683 |   |     | $    | 17,413,086 |   |

F-35 GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Movement of credit loss for the years ended March
31, 2025, 2024, and 2023 are as follows:

|                        |     |   | March 31, 
      2025 |   |     |   | March 31, 
      2024 |   |     |   | March 31, 
      2023 |   |
|:-----------------------|:----|:--|----------:|:--|:----|:--|----------:|:--|:----|:--|----------