Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 179

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 179
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 net identifiable assets of the acquired subsidiaries at the date
of acquisition. Goodwill is not amortized and is tested for impairment at least annually, or more often when circumstances indicate impairment
may have occurred. Goodwill is carried at cost less accumulated impairment losses. If impairment exists, goodwill is immediately written
off to its fair value and the loss is recognized in the consolidated statements of operations and comprehensive income (loss). Impairment
losses on goodwill are not reversed.

<div align='center'>F-13

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

The Company reviews the carrying
value of intangible assets not subject to amortization, including goodwill, to determine whether impairment may exist annually or more
frequently if events and circumstances indicate that it is more likely than not that an impairment has occurred. Management has determined
that the Company has two reporting units within the entity at which goodwill is monitored for internal management purposes.

The table below summarizes the changes in the
carrying amount of goodwill for each reporting unit:

| Balance at March 31, 2022 |     | Console 
 Game    |         - |     | Publishing | - |     | Media       
 Advertising 
 service     | - |     | Others |       - |     | Total |         - |
|:--------------------------|:----|:--------|----------:|:----|:-----------|:--|:----|:------------|:--|:----|:-------|--------:|:----|:------|----------:|
| Acquired goodwill         |     |         | 2,047,154 |     |            | - |     |             | - |     |        |       - |     |       | 2,047,154 |
| Balance at March 31, 2023 |     |         | 2,047,154 |     |            | - |     |             | - |     |        |       - |     |       | 2,047,154 |
| Acquired goodwill         |     |         |   674,367 |     |            | - |     |             | - |     |        | 268,873 |     |       |   943,240 |
| Impairments               |     |         |         - |     |            | - |     |             | - |     |        |       - |     |       |         - |