Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 349

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 349
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 10% of the Company’s total revenue, respectively.

As of September 30,
2024, customers A and B from the Company’s distribution of console game segment accounted for approximately 25% and 32% of the total
balance of account receivable, respectively. As of March 31, 2024, customers A and B from the Company’s distribution of console
game segment accounted for approximately 42% and 14% of the total balance of account receivable, respectively.

<div align='center'>F-90

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

(2)
Major vendors

For the six
months ended September 30, 2024, three vendors a, b and e are accounted for approximately 45%, 16% and 16% of the Company’s
total cost of goods sold, respectively. For the six months ended September 30, 2023, four vendors a, b, c and d are accounted for
approximately 38%, 16% 12% and 10% of the Company’s total cost of goods sold, respectively.

As of September 30,
2024, vendors a, b and e accounted for approximately 25%, 38% and 31% of the Company’s total balance of accounts payable, respectively.
As of March 31, 2024, vendors a, h and f accounted for approximately 29%, 12%, and 10% of the Company’s total balance of accounts
payable, respectively.

(3)
Credit risk

Financial
instruments that are potentially subject to significant concentrations of credit risk consist primarily of cash. The Singapore Deposit
Insurance Corporation Limited (SDIC) insures deposits in a Deposit Insurance (DI) Scheme member bank or finance /Company up to approximately
$58,452 (SGD 75,000) per account. As of September 30, 2024 and March 31, 2024, the Company had cash balance of $7,352,165, and
$2,483,834 was maintained at DI Scheme banks in Singapore, of $6,955,528 and $2,256,282 was subject to credit risk, respectively. The
Hong Kong Deposit Protection Board pays compensation up to a limit of $64,356 (HKD 500,000) if the bank with which an individual/a Company
hold its