Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 249

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 249
---
 when the Company grant the right to use of the
license of the video content to the social media platform, and when the social media platform can derive substantial economic benefit
from monetizing the video content. The revenue generated is contingent on a profit-sharing arrangement with the social media platform
and is assessed based on multiple factors. These factors include viewer engagement, viewer location, the type of advertisements, the number
of advertisements engaged with, and more. The transaction price will be entitled to be received by the Company upon monthly settlement
with the social media platform. Consequently, the Company has determined that revenue from social media advertising is recognized at a
point in time when it is probable that a significant reversal of the revenue recognized will not occur.

Cost of revenue from social media marketing service
consist of video production related cost such as labor and production supplies.

The Company has elected to apply the practical expedient
to expense costs as incurred for incremental costs to obtain a contract when the amortization period would have been one year or less.
As of March 31, 2024 and 2023, the Company did not incur any incremental costs to obtain contract.

As of March 31, 2024 and 2023, the Company did not have
any contract assets.

The Company recognized advance payments from its
customer prior to revenue recognition as contract liability until the revenue recognition performance obligation are met. As of March 31,
2024 and 2023, the contract liability amounted to $209,903 and $363,726, respectively. For the years ended March 31, 2024 and
2023, revenue recognized that was included in the beginning period contract liabilities balance amounted to $363,726 and $433,924, respectively.
As of March 31, 2024 and 2023, there were no contracts with performance obligations beyond 12 months for revenue recognition.

<div align='center'>F-31

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Disaggregated information of revenues by products/services
are as follows:

|                                       |     | For the years ended | March 31, 2024 |     |   | March 31, 2023 |
|:--------------------------------------|:----|:--------------------|---------------:|:----|:--|---------------:|
| Console game                          |     | $                   |     38,429,942 |     | $ |     39,499