Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 237

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 237
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 lives and valuation
of long-lived assets, estimates of allowances for doubtful accounts, reserve for excess and obsolete inventory, estimates of impairment
of long-lived assets and goodwill, valuation of deferred tax assets, other provisions and contingencies, contingent consideration for
acquisition, and estimated fair value used in business acquisitions. Actual results could differ from these estimates, and as such, differences
may be material to the consolidated financial statements.

<div align='center'>F-23

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Transactions denominated in currencies other than
the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction.
Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency
using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the consolidated statements
of operation and comprehensive loss.

The reporting currency of the Company is United
States Dollars (“US$”) and the accompanying financial statements have been expressed in US$. The Company’s subsidiaries
in Singapore, Hong Kong, and Malaysia conduct their businesses and maintain their books and records in US$, or local currencies of Singapore
Dollars (“SGD”), Hong Kong Dollar (“HKD”), and Malaysian Ringgit (“MYR”), as their respective functional
currencies.

In general, for consolidation purposes, assets and
liabilities of its subsidiaries whose functional currency is not US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation
of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates
prevailing during the period. The gains and losses resulting from translation of financial statements of foreign subsidiary are recorded
as a separate component of accumulated other comprehensive loss within the statements of change in shareholders’ equity. Cash flows
are also translated at average translation rates for the periods. Therefore, amounts reported on the statement of cash flows will not
necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Exchange rate presented below were quoted
by the federal reserve of the United States.

Translation of foreign currencies into US$ 1 have
been made at the following exchange rates for the respective periods:

|                                        |     |     |     As of 
 March 31, 
      2024 |     |     |     As of 
 March 31, 
      2023 |
|: