Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 329

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 329
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 fair value of the licenses and trademarks represents the present value of the after-tax royalties
saved as a result of owning the legal right to utilize them.

The
goodwill is not deductible for income tax purposes and is related primarily to the expected synergies from combining the operations into
the Company’s business operation in console game.

Note 4 — Accounts receivable, net

As of September 30,
2024 and March 31, 2024, accounts receivables were comprised of the following:

|                                                     |     | September 30, 
 2024          
 (Unaudited)   |            |   |     | March 31, 
 2024      |            |   |
|:----------------------------------------------------|:----|:--------------|-----------:|:--|:----|:----------|-----------:|:--|
| Receivables from console game and console game code |     | $             | 13,110,138 |   |     | $         | 15,123,775 |   |
| Receivables from game publishing                    |     |               |    236,121 |   |     |           |  2,282,228 |   |
| Receivables from advertising service                |     |               |    243,621 |   |     |           |    332,540 |   |
| Less: Allowance for credit loss                     |     |               |   (341,854 | ) |     |           |   (325,457 | ) |
| Accounts receivable, net                            |     | $             | 13,248,026 |   |     | $         | 17,413,086 |   |

<div align='center'>F-80

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED 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