Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 239

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 239
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                                                    |     | 2024 | Carrying Value at 
         March 31, |     | Level 1 | Fair Value Measurement at 
 March 31, 2024            |     | Level 2 |   |     | Level 3 |           |
|:---------------------------------------------------|:----|:-----|------------------:|:----|:--------|:--------------------------|:----|:--------|:--|:----|:--------|----------:|
| Contingent consideration for acquisition of 2Games |     | $    |         3,697,000 |     | $       | -                         |     | $       | - |     | $       | 3,697,000 |

The following is a reconciliation
of the beginning and ending balance of the financial assets and liability measured at fair value on a recurring basis for the years ended
March 31, 2025, 2024, and 2023:

|                                                                                            |     | Derivative Asset |         |
|:-------------------------------------------------------------------------------------------|:----|:-----------------|--------:|
| Initial fair value of derivative assets attributable to Buy-Back Feature embedded in 2Game 
 SPA                                                                                        |     | $                | 269,119 |
| Change in fair value of derivative asset                                                   |     |                  |       - |
| Ending balance As of March 31, 2025                                                        |     | $                | 269,119 |

|                                                                  |     | Contingent        
 consideration for 
 acquisition       |            |   |
|:-----------------------------------------------------------------|:----|:------------------|-----------:|:--|
| Beginning balance                                                |     | $                 |  3,360,848 |   |
| Change in fair value of contingent consideration for acquisition |     |                   |    932,152 |   |
| Ending balance as of March 31, 2023                              |     | $                 |  4,293,000 |   |
| Payment of cash and share consideration                          |     |                   |   (806,710 | ) |
| Change in fair value of contingent consideration for acquisition |     |                   |    272,029 |   |
| Exchange rate difference                                         |     |                   |    (61,319 | ) |
| Ending balance as of March 31, 2024                              |     |                   |  3,697,000 |   |
| Payments of cash and share consideration                         |     |                   | (3,