Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 161

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 161
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0.5 million payment related to achievement of tranche 3 of contingent consideration in connection
with the 2Game acquisition.

Net cash used in investing
activities was approximately $0.6 million for the year ended March 31, 2023 and was attributable to approximately $0.5 million in purchase
of equipment and approximately $71,000 in purchase of long-term investment.

Financing activities

Net cash provided by financing
activities was approximately $33.6 million for the year ended March 31, 2025 and was primarily attributable to (i) approximately $31.7
million proceed received from bank loans; (ii) approximately $33.0 million proceeds from convertible notes, and (iii) approximately $0.6
million proceed received from reverse recapitalization; offset by (A) approximately $28.8 million bank loans repayments; (B) approximately
$0.7 million in payments for deferred merger costs, (C) approximately $1.6 million repayments to related parties loan, (D) approximately
$63,000 of principle payments for finance lease, and (E) approximately $0.6 million cash payment in connection of acquiring additional
controlling interest in 2game.

Net cash provided by financing
activities was approximately $0.1 million for the year ended March 31, 2024 and was primarily attributable to (i) approximately $24.2
million proceed received from bank loans; (ii) approximately $4.0 million repayment from related parties; offset by (A) approximately
$25.4 million bank loans repayments; (B) approximately $0.9 million in payments for deferred merger costs, (C) approximately $1.4 million
advance to related parties, (D) approximately $0.2 million in principle payments, and (E) approximately $0.2 million payment to a shareholder
as redemption of ordinary share.

Net cash provided by financing
activities was approximately $4.4 million for the year ended March 31, 2023 and was primarily attributable to approximately $8.8 million
proceed from bank loans offset by repayment of approximately $2.5 million of bank loans, and approximately $2.0 million interest free
advance to related parties.

Commitments and Contingencies

In the normal course of
business, we are subject to loss contingencies, such as legal proceedings and claims arising out of our business, that cover a wide range
of matters, including,