Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 321

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 321
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involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive,
free market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related
party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations
can be substantiated.

The
Company adheres to ASC 450, “Contingencies” for the recognition, measurement, and disclosure of commitments and contingencies.
Contingencies, representing uncertainties related to potential liabilities or gains stemming from past events, are evaluated based on
available information, legal counsel advice, and historical experience. The Company records accruals for losses when it is probable and
reasonably estimable.

The Company
considers the applicability and impact of all accounting standards updates (“ASUs”).

Management
periodically reviews new accounting standards that are issued. Under the Jumpstart Our Business Startups Act of 2012, as amended (the
“JOBS Act”), the Company meets the definition of an emerging growth Company and has elected the extended transition period
for complying with new or revised accounting standards, which delays the adoption of these accounting standards until they would apply
to private companies.

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