Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 274

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 274
---
 | ) |     |   |    (55,533 | ) |
| Accounts receivable, net                            |     | $ | 17,413,086 |   |     | $ | 17,011,647 |   |

<div align='center'>F-43

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Movement of credit loss for the years ended March 31,
2024 and 2023 are as follows:

|                          |     |   | March 31, 
      2024 |   |     |   | March 31, 
      2023 |   |
|:-------------------------|:----|:--|----------:|:--|:----|:--|----------:|:--|
| Beginning balance        |     | $ |    55,533 |   |     | $ |    12,588 |   |
| Addition                 |     |   |   277,273 |   |     |   |    42,878 |   |
| Write-off                |     |   |         — |   |     |   |    (1,521 | ) |
| Translation adjustment   |     |   |    (7,349 | ) |     |   |     1,588 |   |
| Accounts receivable, net |     | $ |   325,457 |   |     | $ |    55,533 |   |

Note 5 — Inventories, net

Inventories are stated at lower of cost or net realizable
value, which is determined using the weighted average method.

|                                     |     |   | March 31, 
      2024 |     |   | March 31, 
      2023 |
|:------------------------------------|:----|:--|----------:|:----|:--|----------:|
| Physical console game compact discs |     | $ | 4,826,217 |     | $ | 3,072,146 |

For the years ended March 31, 2024 and
2023, the impairment for inventories were amounted to $468,941 and $288,604 respectively.

Note 6 — Other receivables and other current assets, net

As of March 31, 2024 and 2023, other receivables
and other current assets, net were comprised of the following:

|