Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 320

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 320
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 as cash and restricted cash, accounts receivable, net, amount due from related parties,
other receivables and other current assets, prepayments, banking facilities, accounts payable, contract liabilities, amount due to related
parties, other payables and accrued liabilities, and tax payables have been determined to approximate carrying amounts due to the short
maturities of these instruments. The Company believes that its long-term bank facilities approximate the fair value based on current
yields for debt instruments with similar terms.

The
following table sets forth by level within the fair value hierarchy our financial liability that were accounted for at fair value on
a recurring basis as of September 30, 2024 and March 31, 2024:

|                                          |     | 2024 | Carrying Value at 
     September 30, |     | Level 1 | Fair Value Measurement at 
 September 30, 2024        |     | Level 2 |   |     | Level 3 |           |
|:-----------------------------------------|:----|:-----|------------------:|:----|:--------|:--------------------------|:----|:--------|:--|:----|:--------|----------:|
| Contingent consideration for acquisition |     | $    |         3,426,385 |     | $       | -                         |     | $       | - |     | $       | 3,426,385 |

|                                          |     | 2024 | Carrying Value at 
         March 31, |     | Level 1 | Fair Value Measurement at 
 March 31, 2024            |     | Level 2 |   |     | Level 3 |           |
|:-----------------------------------------|:----|:-----|------------------:|:----|:--------|:--------------------------|:----|:--------|:--|:----|:--------|----------:|
| Contingent consideration for acquisition |     | $    |         3,697,000 |     | $       | -                         |     | $       | - |     | $       | 3,697,000 |

The
following is a reconciliation of the beginning and ending balance of the financial liability measured at fair value on a recurring basis
for the six months ended September 30, 2024 and for the years ended March 31, 2024:

|                                                                  |     | Contingent        
 consideration for 
 acquisition       |           |   |