Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 317

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 317
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--------------:|:----|:-----------|--------------:|
|                                      |     | -Unaudited               |               |     | -Unaudited |               |
| Console game                         |     | $                        |    14,593,174 |     | $          |    14,098,552 |
| Console game code                    |     |                          |    34,476,448 |     |            |    18,069,773 |
| Console game– subtotal               |     |                          |    49,069,622 |     |            |    32,168,325 |
| Game publishing                      |     |                          |       886,005 |     |            |     2,403,367 |
| Video marketing campaign services    |     |                          |       613,948 |     |            |     1,123,322 |
| Social media advertising services    |     |                          |       206,464 |     |            |       183,638 |
| Media advertising services- subtotal |     |                          |       820,412 |     |            |     1,306,960 |
| Other revenue                        |     |                          |       129,666 |     |            |       209,917 |
| Total revenues                       |     | $                        |    50,905,705 |     | $          |    36,088,569 |

The
Company generally provides limited warranties for its products sold. At the time a sale is recognized, the Company records estimated
future warranty costs under ASC 460. Such estimated costs for warranties are estimated at time of delivery and these warranties are not
service warranties separately sold by the Company. Generally, the estimated claim rates of warranty are based on actual warranty experience
or the Company’s best estimate. As the historical claim rates of warranty were immaterial, the Company did not accrue warranty
reserves as of September 30, 2024 and March 31, 2024.

<div align='center'>F-71

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

Advertising
is mainly through online and offline promotion activities. Advertisement expenses amounted to $712,034 and $1,170,285 for the six months
ended September 30, 2024 and 2023, respectively.

Deferred
merger costs consist primarily of expenses paid to