Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 217

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 217
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. Significant accounting estimates reflected in the Company’s
consolidated financial statements include lease liabilities, right-of-use assets, determinations of the useful lives and valuation of
long-lived assets, estimates of allowances for credit loss and doubtful accounts, reserve for excess and obsolete inventory, estimates
of impairment of long-lived assets and goodwill, valuation allowances for deferred tax assets, other provisions and contingencies, contingent
consideration for acquisition, fair value of derivative liability and estimated fair value used in business acquisitions. Actual results
could differ from these estimates, and as such, differences may be material to the consolidated financial statements.

Transactions denominated
in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the
dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated
into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded
in the consolidated statements of operation and comprehensive income (loss).

The
reporting currency of the Company is United States Dollars (“US$”) and the accompanying
financial statements have been expressed in US$. The Company’s subsidiaries in Singapore,
Hong Kong, Malaysia, China, Brazil, the United Kingdom, and Dubai conduct their businesses
and maintain their books and records in US$, or local currencies of Singapore Dollars (“SGD”),
Hong Kong Dollar (“HKD”), Malaysian Ringgit (“MYR”), Chinese Yuan
(“RMB”), Brazil Real (“BRL”), and United Arab Emirates Dirham (“AED”)
as their respective functional currencies.

In general, for consolidation
purposes, assets and liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with
ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses
are translated at average rates prevailing during the period. The gains and losses resulting from translation of financial statements
of foreign subsidiary are recorded as a separate component of accumulated other comprehensive income (loss) within the statements of
change in shareholders’ equity. Cash flows are also translated at average translation rates for the periods. Therefore, amounts
reported on the statement of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance
sheets. Exchange rate presented below were quoted by the Federal Reserve of the United States.

<div align='center'>F-10

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO