Company: GCL
Filing Date: 2025-09-05
Form Type: F-1/A
Source: 0001213900-25-085150
Chunk: 193

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-05
Form: F-1/A
Chunk 193
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 to the consolidated statements of operation and comprehensive income (loss).

Non-controlling interests

For the Company’s
non-wholly owned subsidiaries, a non-controlling interest is recognized to reflect portion of equity that is not attributable, directly
or indirectly, to the Company. The cumulative results of operations attributable to non-controlling interests are also recorded as non-controlling
interests in the Company’s consolidated balance sheets and consolidated statements of operation and comprehensive income (loss).
Cash flows related to transactions with non-controlling interests are presented under financing activities in the consolidated statements
of cash flows.

Segment reporting

The chief executive officer
is identified as the Company’s chief operating decision-maker who reviews financial information presented on a consolidated basis,
accompanied by disaggregated information about revenues by different revenues streams for purposes of allocating resources and evaluating
financial performance. Based on qualitative and quantitative criteria established by Accounting Standards Codification (“ASC”)
280, “Segment Reporting”, the Company considers itself to be operating within operating and reportable segments
as set forth in Note 25.

Cash and cash equivalents, and restricted cash

Cash is carried at cost
and represents cash on hand. Cash equivalents consist of time deposits placed with banks or other financial institutions and all highly
liquid investments with an original maturity of three months or less. In addition, cash equivalents also consist of funds received from
customers, which were held at the third-party platform’s account, and which are unrestricted and immediately available for withdrawal
and use.

Restricted cash consists
of fixed deposits being held as collateral to secure the banking facilities. As of March 31, 2025 and 2024, the Company had deposit
amounted to $ and $, respectively, held in the banks as collateral to secure the banking facilities which the Company
signed with HSBC Bank and Citibank (referred to Note 14).

F-11 GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Accounts receivable, net

Accounts receivable are
recognized and carried at the original invoiced amount less an allowance for credit losses and do not bear interest. Customers who owed
accounts receivables, are granted credit terms based on their credit metrics. The Company measured the credit loss against its accounts
receivable and records the allowance for credit losses as an offset to accounts receivable, and the estimated credit losses charged to
the allowance is classified as “general and administrative” in the consolidated statements of operation and comprehensive
income (loss