Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 289

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 289
---
CL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

The accounting principles for the Company’s revenue
by segment are set out in Note 2.

As of March 31, 2024, the Company’s total
assets were comprised of $41,359,537 for sale of console game, hardware and accessories, $7,042,024 for game publishing, $957,031 for
advertising services, and $199,652 for others.

As of March 31, 2023, the Company’s total
assets were comprised of $39,960,655 for sale of console game, hardware and accessories, $6,515,985 for game publishing, $1,347,335 for
advertising services, and $0 for others.

Disaggregated information of revenues by regions are as follows:

|               |     |   |   For the year 
          ended 
 March 31, 2024 |     |   |   For the year 
          ended 
 March 31, 2023 |
|:--------------|:----|:--|---------------:|:----|:--|---------------:|
| Singapore     |     | $ |     58,145,593 |     | $ |     42,569,909 |
| Hong Kong     |     |   |     32,696,502 |     |   |     25,963,383 |
| Malaysia      |     |   |      6,692,606 |     |   |      8,910,863 |
| Total revenue |     | $ |     97,534,701 |     | $ |     77,444,155 |

Note 19 — Subsequent Events

The Company evaluated all events and transactions
that occurred after March 31, 2024 up through August 12, 2024. Based upon this audit, other than below, the Company did not identify
any subsequent events that would have required adjustment or disclosure in the financial statements, except for the following.

On July 26, 2024, Hainan GCL Technology Co. Ltd.
(“Hainan GCL”) was formed in China as a wholly owned subsidiary of the Company in support of the Company’s collaboration
with Cube Game, a game platform in China.

Note 20 — Subsequent Events (Unaudited)

Hainan GCL Technology Co. Ltd. (“H