Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 322

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 322
---
$”)</div>

| 3. | Cash and cash equivalents |

|                           |     | As of March 31, |       2025 |     |   |       2024 |
|:--------------------------|:----|:----------------|-----------:|:----|:--|-----------:|
|                           |     | $               |            |     | $ |            |
| Cash at banks             |     |                 | 21,045,890 |     |   | 18,056,836 |
| Cash on hand              |     |                 |      7,713 |     |   |     12,163 |
| Cash and cash equivalents |     |                 | 21,053,603 |     |   | 18,068,999 |

Cash at bank earns interest at floating
rates based on daily bank deposit rates.

Included in cash and cash equivalents
of the Company are amounts denominated in foreign currencies as follows:

|                       |     | As of March 31, |      2025 |     |   |      2024 |
|:----------------------|:----|:----------------|----------:|:----|:--|----------:|
|                       |     | $               |           |     | $ |           |
| United States Dollars |     |                 | 4,568,278 |     |   | 3,618,606 |
| Malaysian Ringgit     |     |                 | 1,954,652 |     |   |   995,346 |
| Thai Baht             |     |                 | 2,433,706 |     |   | 2,771,316 |
| Australian Dollars    |     |                 |    28,638 |     |   |    29,796 |
|                       |     |                 | 8,985,274 |     |   | 7,415,064 |

| 4. | Accounts receivable, net |

|                             |     | As of March 31, |       2025 |   |     |   |       2024 |   |
|:----------------------------|:----|:----------------|-----------:|:--|:----|:--|-----------:|:--|
|                             |     | $               |            |   |     | $ |            |   |
| Accounts receivable         |     |                 | 22,885,627 |   |     |   | 23,341,