Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 275

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 275
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----|:----------|:--|
| Deferred investment consideration 
 payable                           |     | $         | 7,500,000 |     | $         | - |

The balance of contingent
investment consideration payable relates to the Company’s investment in Nekcom of $7,500,000 in share consideration, for which
the corresponding ordinary shares have been issued and placed in escrow. These shares will not be released until the Full Recoupment
Date (see Note 5). As the Company expects the Full Recoupment Date to occur more than twelve months after March 31, 2025, the investment
payable related to the $7,500,000 share consideration has been classified as non-current.

<div align='center'>F-42

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Note 18 — Related party balances and transactions

Related party balances

Amount due from related parties

|                            | Name of related party |                                                       | Relationship |                                                | Nature |   |     As of 
 March 31, 
      2025 |     |   |     As of 
 March 31, 
      2024 |
|:---------------------------|:----------------------|:------------------------------------------------------|:-------------|:-----------------------------------------------|:-------|:--|----------:|:----|:--|----------:|
| Epicsoft Ventures Pte Ltd  |                       | Common shareholders                                   |              | Reimbursement of business expenses             |        | $ |       426 |     | $ |         - |
| SEGA Corporation           |                       | Shareholder of the Company                            |              | Recoupable advertising fee receivable          |        |   |   377,904 |     |   |           |
| Jianhao Tan                |                       | CEO of Titan Digital                                  |              | Interest free loan due on demand               |        |   |         - |     |   |    21,880 |
| Joseph Thomas Van Heeswijk |                       | Minority Shareholder of 2Game                         |              | Director loan, interest free, no maturity date |        |   |     8,873 |     |   |         - |
| Jianhao Tan                
 Brand Ventures Pte Ltd     |                       | Jianhao Tan, the shareholder of JHTB Venture, the CEO 
 of Titan Digital                                      |              | Expenses paid on behalf                        |        |