Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 256

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 256
---
 March 31, 2024       |     | Level 2 |   |     | Level 3 |           |
|:-----------------------------------------|:----|:-----|----------:|:----|:--------|:---------------------|:----|:--------|:--|:----|:--------|----------:|
| Contingent consideration for acquisition |     | $    | 3,697,000 |     | $       | —                    |     | $       | — |     | $       | 3,697,000 |

The following is a reconciliation of the beginning
and ending balance of the financial liability measured at fair value on a recurring basis for the years ended March 31, 2024
and 2023:

|                                                                  |     | Contingent        
 consideration for 
 acquisition       |           |   |
|:-----------------------------------------------------------------|:----|:------------------|----------:|:--|
| Beginning balance                                                |     | $                 | 3,360,848 |   |
| Change in fair value of contingent consideration for acquisition |     |                   |   932,152 |   |
| Ending balance as of March 31, 2023                              |     |                   | 4,293,000 |   |
| Payment of cash and share consideration                          |     |                   |  (806,710 | ) |
| Change in fair value of contingent consideration for acquisition |     |                   |   272,029 |   |
| Exchange rate difference                                         |     |                   |   (61,319 | ) |
| Ending balance as of March 31, 2024                              |     | $                 | 3,697,000 |   |
| Contingent consideration for acquisition, current                |     |                   | 2,319,000 |   |
| Contingent consideration for acquisition, non-current            |     |                   | 1,378,000 |   |

<div align='center'>F-34

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Effective April 1, 2020, the Company adopted
ASU 2016-02, “Leases” (Topic 842), and elected the practical expedients that does not require us to reassess: (1) whether
any expired or existing contracts are, or contain, leases, (2) lease classification for any expired or existing leases and (3)