Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 246

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 246
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 ASC 280 to companies with single reportable segments. The Company adopted ASU 2023-07
on April 1, 2024, and retrospectively apply to all periods presented in the consolidated financial statement. The adoption of this ASU
did not have a material impact on the consolidated financial statements and related disclosures.

<div align='center'>F-25

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

New Accounting Standards That Have Not Yet Been Adopted:

In October 2023, the FASB
issued ASU 2023-06, Disclosure Improvements — codification amendments in response to SEC’s disclosure Update and Simplification
initiative which amend the disclosure or presentation requirements of codification subtopic 230-10 Statement of Cash Flows—Overall,
250-10 Accounting Changes and Error Corrections— Overall, 260-10 Earnings Per Share— Overall, 270-10 Interim Reporting—
Overall, 440-10 Commitments—Overall, 470-10 Debt—Overall, 505-10 Equity—Overall, 815-10 Derivatives and Hedging—Overall,
860-30 Transfers and Servicing—Secured Borrowing and Collateral, 932-235 Extractive Activities— Oil and Gas—Notes to
Financial Statements, 946-20 Financial Services— Investment Companies— Investment Company Activities, and 974-10 Real Estate—Real
Estate Investment Trusts—Overall. The amendments represent changes to clarify or improve disclosure and presentation requirements
of above subtopics. Many of the amendments allow users to more easily compare entities subject to the SEC’s existing disclosures
with those entities that were not previously subject to the SEC’s requirements. Also, the amendments align the requirements in
the Codification with the SEC’s regulations. For entities subject to existing SEC disclosure requirements or those that must provide
financial statements to the SEC for securities purposes without contractual transfer restrictions, the effective date aligns with the
date when the SEC removes the related disclosure from Regulation S-X or Regulation S-K. Early adoption is not allowed. For all other
entities, the amendments will be effective two years later from the date of the SEC’s removal. The Company is currently evaluating
the impact of the update on the Company’s consolidated financial statements and related disclosures.

In December 2023, the FASB
issued ASU 2023-09, Income Taxes (