Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 258

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 258
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 and liabilities do not include leases with a lease term of twelve months or less. Its leases
generally do not provide a residual guarantee.

The finance or operating lease ROU asset also excludes
lease incentives. Lease expense is recognized on a straight-line basis over the lease term for operating lease. Meanwhile, the Company
recognizes the finance leases ROU assets and interest on an amortized cost basis. The amortization of finance ROU assets is recognized
on an accretion basis as amortization expense, while the lease liability is increased to reflect interest on the liability and decreased
to reflect the lease payments made during the period. Interest expense on the lease liability is determined each period during the lease
term as the amount that results in a constant periodic interest rate of the office equipment on the remaining balance of the liability.

<div align='center'>F-35

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

The Company reviews the impairment of its ROU assets
consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its long-lived assets
when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment
of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax
cash flows of the related operations. The Company has elected to include the carrying amount of operating lease liabilities in any tested
asset group and include the associated operating lease payments in the undiscounted future pre-tax cash flows. For the years ended
March 31, 2024 and 2023, the Company did not recognize impairment loss on its finance and operating lease ROU assets.

The Company identifies related parties, accounts
for and discloses related party transactions in accordance with ASC 850, “Related Party Disclosures” and other relevant ASC
standards.

Corporations or individual parties are considered
to be related if they have the ability, directly or indirectly, to control the Company or exercise significant influence over the Company
in making financial and operating decisions. Entities are also considered to be related if they are subject to common control or common
significant influence.

Transactions involving related parties cannot be
presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free market dealings may not exist.
Representations about transactions with related parties, if made, shall not imply that the