Company: GCL
Filing Date: 2025-09-04
Form Type: F-1
Source: 0001213900-25-084489
Chunk: 138

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-04
Form: F-1
Chunk 138
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 to changes in the demand for our products or services, local government policy, economic conditions, and competition in the gaming industries. However, based on the above considerations, our management is of the opinion that it has sufficient funds to meet our working capital requirements and current liabilities as they become due one year from the date of issuance of these financial statements are issued. The following summarizes the key components of our cash flows for the year ended March 31, 2025, 2024, and 2023.

|                                                           |     | For the Years Ended March 31, |        2025 |   |     |   |      2024 |   |     |   |       2023 |   |
|:----------------------------------------------------------|:----|:------------------------------|------------:|:--|:----|:--|----------:|:--|:----|:--|-----------:|:--|
| Net cash (used in) provided by operating activities       |     | $                             | (10,308,634 | ) |     | $ | 1,316,296 |   |     | $ | (4,365,870 | ) |
| Net cash used in investing activities                     |     |                               |  (6,342,398 | ) |     |   |  (780,624 | ) |     |   |   (615,528 | ) |
| Net cash provided by financing activities                 |     |                               |  33,557,446 |   |     |   |   135,236 |   |     |   |  4,359,210 |   |
| Effect of exchange rate changes                           |     |                               |     138,564 |   |     |   |  (168,777 | ) |     |   |    (27,696 | ) |
| Net change in cash, cash equivalents, and restricted cash |     | $                             |  17,044,978 |   |     | $ |   502,131 |   |     | $ |   (649,884 | ) |

87 Operating activities Net cash used in operating activities was approximately $10.3 million for the year ended March 31, 2025. The net cash used in operating activities was primarily attributable to (i) approximately $6.6 million increase in accounts receivable, as a result of increase in our revenue, (ii) approximately $7.5 million increase in indefinite-lived intangible assets as we