Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 210

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 210
---
 about whether the
financial statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were
we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an
understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the
Company’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to
assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that
respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial
statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well
as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Marcum Asia CPAs LLP

Marcum Asia CPAs LLP

We have served as the Company’s auditor
since 2023.

New York, New York

July 31, 2025

<div align='center'>NEW YORK OFFICE ● 7 Penn Plaza ● Suite
830 ● New York, New York ● 10001

Phone 646.442.4845 ●
Fax 646.349.5200 ● www.marcumasia.com

F-2</div>

| GCL                                             
 GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES        |
| CONSOLIDATED                                    
 BALANCE SHEETS                                  |
| (Stated                                         
 in U.S dollar, except for the number of shares) |

| ASSETS                                                                                                                             
 CURRENT ASSETS                                                                                                                     |     | As of March 31, 
 2025            |             |     | 2024 |            |   |
|:-----------------------------------------------------------------------------------------------------------------------------------|:----|:----------------|------------:|:----|:-----|-----------:|:--|
| Cash and cash equivalents                                                                                                          |     | $               |  18,247,380 |     | $    |  2,677,059 |   |
| Restricted cash                                                                                                                    |     |                 |   3,131,335 |     |      |  1,656,678 |   |
| Accounts receivable, net                                                                                                           |     |                 |  25,761,683 |     |      | 17,