Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 176

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 176
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Net cash used in financing activities was approximately $4.0 million for the six months ended September 30, 2023 and was primarily attributable to (i) approximately $13.0 million bank loans repayments; (ii) approximately $2.3 million repayment collected from related parties; (iii) approximately $0.3 million in payments for deferred merger costs; offset by (i) approximately $7.9 million proceed received from bank loans; (ii) approximately $3.7 million increase in loan 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 six months ended September 30, 2024 and 2023, we did not record any accruals for loss contingencies.

The following table summarizes our contractual obligations as of September 30, 2024:

| Contractual obligations                |     | Payments due by period 
 Total                  |            |     | Less than 
 1 year    |            |     | 1 – 3 years |         |     | 3 – 5 years |        |     | More than 
 5 years   |   |
|:---------------------------------------|:----|:-----------------------|-----------:|:----|:----------|-----------:|:----|:------------|--------:|:----|:------------|-------:|:----|:----------|:--|
| Bank loans, current maturities         |     | $                      | 14,282,694 |     | $         | 14,282,694 |     | $           |       — |     | $           |      — |     | $         | — |
| Bank loan, non-current                 |     |                        |     72,060 |     |           |          — |     |             |  72,060 |     |             |      — |     |           | — |
| Amount due to related parties, current |     |                        |    386,008 |     |           |    386,008 |