Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 251

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 251
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 one year or less.
As of March 31, 2024 and 2023, the Company did not incur any incremental costs to obtain contract.

As of March 31, 2024 and 2023, the Company did not have
any contract assets.

The Company recognized advance payments from its
customer prior to revenue recognition as contract liability until the revenue recognition performance obligation are met. As of March 31,
2024 and 2023, the contract liability amounted to $209,903 and $363,726, respectively. For the years ended March 31, 2024 and
2023, revenue recognized that was included in the beginning period contract liabilities balance amounted to $363,726 and $433,924, respectively.
As of March 31, 2024 and 2023, there were no contracts with performance obligations beyond 12 months for revenue recognition.

<div align='center'>F-31

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Disaggregated information of revenues by products/services
are as follows:

|                                       |     | For the years ended | March 31, 2024 |     |   | March 31, 2023 |
|:--------------------------------------|:----|:--------------------|---------------:|:----|:--|---------------:|
| Console game                          |     | $                   |     38,429,942 |     | $ |     39,499,316 |
| Console game codes                    |     |                     |     52,588,862 |     |   |     28,575,826 |
| Console game – subtotal               |     |                     |     91,018,804 |     |   |     68,075,142 |
| Game publishing                       |     |                     |      3,431,680 |     |   |      6,103,312 |
| Video marketing campaign services     |     |                     |      2,128,589 |     |   |      2,486,844 |
| Social media advertising services     |     |                     |        587,500 |     |   |        778,857 |
| Media advertising services – subtotal |     |                     |      2,716,089 |     |   |      3,265,701 |
| Other revenue                         |     |                     |        368