Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 347

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 347
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|                                   |     | -Unaudited |               |   |     |   |           |   |
| Deferred Tax Assets               |     |            |               |   |     |   |           |   |
| Net operating loss carryforwards  |     | $          |       763,153 |   |     | $ |   409,891 |   |
| Allowance for credit loss         |     |            |        65,984 |   |     |   |    99,714 |   |
| Lease liabilities                 |     |            |       413,979 |   |     |   |   315,935 |   |
| Inventory write-off               |     |            |       204,369 |   |     |   |   180,329 |   |
| Less: valuation allowance*        |     |            |       (55,298 | ) |     |   |    (7,916 | ) |
| Deferred tax assets, net          |     | $          |     1,392,187 |   |     | $ |   997,953 |   |
| Deferred tax liabilities:         |     |            |               |   |     |   |           |   |
| Right of use assets               |     | $          |       464,353 |   |     | $ |   325,463 |   |
| Amortization of intangible assets |     |            |       421,495 |   |     |   |   557,030 |   |
| Deferred tax liabilities          |     | $          |       885,848 |   |     | $ |   882,493 |   |
| Deferred tax assets, net          |     | $          |       506,339 |   |     | $ |   115,460 |   |

As of September 30,
2024, the Company had net operating losses carry forward from GCL Global SG, Titan Digital, Starry, Martiangear, 2Game Brazil, 4Divinity
and Epicsoft Malaysia combined amounted to $4,475,215. The net operating losses from GCL Global SG and Martiangear can be carried forward
indefinitely in Singapore. The Company believes it is not more likely than not that Martiangear and 2Game Brazil future operation will
be able to fully utilize its deferred tax assets related to