Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 264

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 264
---
 indicators were identified, and no loss was recorded.

Note 6 — Accounts receivable, net

As of March 31, 2025 and 2024, accounts receivables
comprised of the following:

|                                                     |     | 2025 |  March 31, |   |     | 2024 |  March 31, |   |
|:----------------------------------------------------|:----|:-----|-----------:|:--|:----|:-----|-----------:|:--|
| Receivables from console game and console game code |     | $    | 23,121,281 |   |     | $    | 15,123,775 |   |
| Receivables from game publishing                    |     |      |  2,604,231 |   |     |      |  2,282,228 |   |
| Receivables from advertising service                |     |      |    285,127 |   |     |      |    332,540 |   |
| Less: Allowance for credit loss                     |     |      |   (248,956 | ) |     |      |   (325,457 | ) |
| Accounts receivable, net                            |     | $    | 25,761,683 |   |     | $    | 17,413,086 |   |

<div align='center'>F-35

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Movement of credit loss for the years ended March
31, 2025, 2024, and 2023 are as follows:

|                        |     |   | March 31, 
      2025 |   |     |   | March 31, 
      2024 |   |     |   | March 31, 
      2023 |   |
|:-----------------------|:----|:--|----------:|:--|:----|:--|----------:|:--|:----|:--|----------:|:--|
| Beginning balance      |     | $ |   325,457 |   |     | $ |    55,533 |   |     | $ |    12,588 |   |
| (Recovery) Addition    |     |   |   (76,725 | ) |     |   |   277,