Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 115

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 4A
Chunk 115
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 million bank loans repayments; (B) approximately
$0.7 million in payments for deferred merger costs, (C) approximately $1.6 million repayments to related parties loan, (D) approximately
$63,000 of principle payments for finance lease, and (E) approximately $0.6 million cash payment in connection of acquiring additional
controlling interest in 2game.

Net cash provided by financing activities was approximately $0.1 million
for the year ended March 31, 2024 and was primarily attributable to (i) approximately $24.2 million proceed received from bank loans;
(ii) approximately $4.0 million repayment from related parties; offset by (A) approximately $25.4 million bank loans repayments; (B) approximately
$0.9 million in payments for deferred merger costs, (C) approximately $1.4 million advance to related parties, (D) approximately $0.2
million in principle payments, and (E) approximately $0.2 million payment to a shareholder as redemption of ordinary share.

Net cash provided by financing
activities was approximately $4.4 million for the year ended March 31, 2023 and was primarily attributable to approximately $8.8 million
proceed from bank loans offset by repayment of approximately $2.5 million of bank loans, and approximately $2.0 million interest free
advance to related parties.

Commitments and Contingencies

In the normal course of business,
we are subject to loss contingencies, such as legal proceedings and claims arising out of our business, that cover a wide range of matters,
including, among others, government investigations and tax matters. In accordance with FASB ASC No. 450-20, “ Loss Contingencies”,
we will record accruals for such loss contingencies when it is probable that a liability has been incurred and the amount of loss can
be reasonably estimated. For the years ended March 31, 2025, 2024 and 2023, we did not record any accruals for loss contingencies.

The following table summarizes our contractual
obligations as of March 31, 2025:

                                              Payments due by period                                                                                             
  Contractual obligations                     Total                                       Less than                      1 – 3 years                             
  Bank loans, current maturities              $                           10,500,085      $              10,500,085      $                —              —       
  Bank loan, non