Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 309

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 309
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 States of America (“U.S.
GAAP”).

The accompanying consolidated financial
statements include the accounts of Ban Leong Technologies Limited and its controlled subsidiaries. All intercompany accounts and transactions
have been eliminated in consolidation.

Non-controlling interests

For the Company’s non-wholly
owned subsidiaries, a non-controlling interest is recognized to reflect portion of equity that is not attributable, directly or indirectly,
to the Company. The cumulative results of operations attributable to non-controlling interests are also recorded as non-controlling interests
in the Company’s consolidated balance sheets and consolidated statements of operation and comprehensive income. Cash flows related
to transactions with non-controlling interests are presented under financing activities in the consolidated statements of cash flows.

<div align='center'>F-67

BAN LEONG TECHNOLOGIES LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in Singapore dollars (“$”)</div>

| 2. | Summary                                        
 of significant accounting policies (continued) |

Use of estimates

The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and revenues and expenses during the periods presented.

Significant accounting estimates reflected in the Company’s consolidated financial statements include, but are not limited to, the allowance for credit losses of accounts receivable inventory valuation allowances principally comprised of allowances for excess and obsolete inventory, and the estimated fair value of our investment in convertible notes. Actual results could differ from those estimates, and as such, differences may be material to the consolidated financial statements.

Foreign
currency transactions and translation

The functional currency of the Company’s
parent is Singapore dollars (“$” or “SGD”), whereas the functional currency of the Company’s subsidiaries
are the respective local currencies. The Company uses the SGD as its reporting currency. Transactions denominated in currencies other
than 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. Exchange differences are recorded in the consolidated statements of operations.

Assets and liabilities of the Company’s
subsidiaries that have functional currencies other than SGD are translated into SGD at the rates of exchange prevailing at the balance
sheet dates and all income and expense items are translated at the average rates of exchange over the year. All exchange differences
arising from the translation of foreign subsidiaries’