Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 257

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 257
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 accounting standards
that are issued. Under the Jumpstart Our Business Startups Act of 2012, as amended (the “JOBS Act”), the Company meets the
definition of an emerging growth Company and has elected the extended transition period for complying with new or revised accounting standards,
which delays the adoption of these accounting standards until they would apply to private companies.

In October 2023, the FASB issued ASU 2023-06,
Disclosure Improvements — codification amendments in response to SEC’s disclosure Update and Simplification
initiative which amend the disclosure or presentation requirements of codification subtopic 230-10 Statement of Cash Flows — Overall,
250-10 Accounting Changes and Error Corrections — Overall, 260-10 Earnings Per Share — Overall,
270-10 Interim Reporting — Overall, 440-10 Commitments — Overall, 470-10 Debt — Overall,
505-10 Equity — Overall, 815-10 Derivatives and Hedging — Overall, 860-30 Transfers and Servicing — Secured
Borrowing and Collateral, 932-235 Extractive Activities — Oil and Gas — Notes to Financial Statements,
946-20 Financial Services — Investment Companies — Investment Company Activities, and 974-10 Real
Estate — Real Estate Investment Trusts — Overall. The amendments represent changes to clarify
or improve disclosure and presentation requirements of above subtopics. Many of the amendments allow users to more easily compare entities
subject to the SEC’s existing disclosures with those entities that were not previously subject to the SEC’s requirements.
Also, the amendments align the requirements in the Codification with the SEC’s regulations. For entities subject to existing SEC
disclosure requirements or those that must provide financial statements to the SEC for securities purposes without contractual transfer
restrictions, the effective date aligns with the date when the SEC removes the related disclosure from Regulation S-X or Regulation S-K.
Early adoption is not allowed. For all other entities, the amendments will be effective two years later from the date of the SEC’s
removal. The Company is currently evaluating the impact of the update on the Company’s consolidated financial statements and related
disclosures.

<div align='center'>F-36

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

In November 2023, the FASB issued ASU 2023-07,
which is an update to Topic 280, Segment Reporting