Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 332

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 332
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 CONSOLIDATED FINANCIAL STATEMENTS</div>

Movement of
credit loss for the six months ended September 30, 2024 and the year ended March 31, 2024 are as follows:

|                        |     | September 30, 
 2024          
 (Unaudited)   |         |     | March 31, 
 2024      |         |   |
|:-----------------------|:----|:--------------|--------:|:----|:----------|--------:|:--|
| Beginning balance      |     | $             | 325,547 |     | $         |  55,533 |   |
| Addition               |     |               |  12,482 |     |           | 277,273 |   |
| Write-off              |     |               |       - |     |           |       - |   |
| Translation adjustment |     |               |   3,825 |     |           |  (7,349 | ) |
| Ending balance         |     | $             | 341,854 |     | $         | 325,457 |   |

For
the six months ended September 30, 2024 and 2023, the Company incurred additional credit loss of $12,482 and $56,322, respectively,
from its accounts receivable balance.

Note 5 — Inventories, net

Inventories
are stated at lower of cost or net realizable value, which is determined using the weighted average method.

|                                     |     | September 30, 
 2024          
 (Unaudited)   |           |     | March 31, 
 2024      |           |
|:------------------------------------|:----|:--------------|----------:|:----|:----------|----------:|
| Physical console game compact discs |     | $             | 6,563,779 |     | $         | 4,826,217 |

For
the six months ended September 30, 2024 and 2023, the impairment for inventories was amounted to $141,047 and $474,364
respectively.

Note 6 — Other receivables and other current assets, net

As
of September 30, 2024 and March 31, 2024, other receivables and other current assets, net were comprised of the following:

|                                                       |     | September 30, 
 2024          
 (Unaudited)