Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 262

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 262
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,000 share consideration were determined to be included
in the initial investment cost. And the Company will assess the impairment as subsequent measurement. As of March 31, 2025, no impairment
was recorded against investment in Nekcom.

Investment in Cloudshelf Limited (“Cloudshelf”)

On November 8, 2022, the
Company entered into a subscription and shareholders agreement with Cloudshelf, a private limited company incorporated in England and
Wales. Pursuant to the agreement, the Company subscribed for ordinary shares in Cloudshelf for a total consideration of $71,045, representing
a 13.5% equity interest of Cloushelf.

As the Company does not
have significant influence over Cloudshelf, the investment is accounted for in accordance with ASC 321, The investment is measured at
cost, with subsequent remeasurement to fair value only upon impairment or when there are observable prince changes in orderly transactions
for identical or similarly investments. As of March 31, 2025, no impairment indicators were identified, and no loss was recorded.

Note 6 — Accounts receivable, net

As of March 31, 2025 and 2024, accounts receivables
comprised of the following:

|                                                     |     | 2025 |  March 31, |   |     | 2024 |  March 31, |   |
|:----------------------------------------------------|:----|:-----|-----------:|:--|:----|:-----|-----------:|:--|
| Receivables from console game and console game code |     | $    | 23,121,281 |   |     | $    | 15,123,775 |   |
| Receivables from game publishing                    |     |      |  2,604,231 |   |     |      |  2,282,228 |   |
| Receivables from advertising service                |     |      |    285,127 |   |     |      |    332,540 |   |
| Less: Allowance for credit loss                     |     |      |   (248,956 | ) |     |      |   (325,457 | ) |
| Accounts receivable, net                            |     | $    | 25,761,683 |   |     | $    | 17,413,086 |   |

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GCL GLOBAL HOLDINGS LTD AND ITS