Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 255

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 255
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 (e.g., convertible securities,
options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential ordinary
shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the
calculation of diluted EPS. For the years ended March 31, 2024 and 2023, there were no dilutive shares.

Fair value is defined as the price that would be
received for an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date.
Valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. When determining the fair value
measurements for assets and liabilities, we consider the principal or most advantageous market in which it would transact and consider
assumptions that market participants would use when pricing the asset or liability. The following summarizes the three levels of inputs
required to measure fair value, of which the first two are considered observable and the third is considered unobservable:

Level 1 — Unadjusted quoted prices in
active markets for identical assets or liabilities.

Level 2 — Observable inputs other than
Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs
that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 — Unobservable inputs that are
supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The fair value for certain assets and liabilities
such as cash and restricted cash, accounts receivable, net, amount due from related parties, other receivables and other current assets,
prepayments, banking facilities, accounts payable, contract liabilities, amount due to related parties, other payables and accrued liabilities,
and tax payables have been determined to approximate carrying amounts due to the short maturities of these instruments. The Company believes
that its long-term bank facilities approximate the fair value based on current yields for debt instruments with similar terms.

The following table sets forth by level within the
fair value hierarchy our financial liability that were accounted for at fair value on a recurring basis as of March 31, 2024:

|                                          |     | 2024 |  Carrying 
  Value at 
 March 31, |     | Level 1 | Fair                 
 Value Measurement at