Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 320

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 320
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 conducts much of its business activities in Singapore, Malaysia, and Hong Kong and is subject to taxation in these jurisdictions.
As a result of its business activities, the Company’s subsidiaries file separate tax returns that are subject to examination by
the foreign tax authorities. As of September 30, 2024, the tax returns for the Company’s Singapore entities from 2021 through
2024 remain open for statutory examination by the Singapore tax authorities. Similarly, as of September 30, 2024, the tax returns
for the Company’s Hong Kong entities from 2019 through 2024 remain open for statutory examination by the tax authorities in Hong
Kong, respectively. In addition, as of September 30, 2024, the tax returns for the Company’s Malaysia entity from 2020 through
2024 remain open for statutory examination by the tax authorities in Malaysia.

Comprehensive
loss consists of two components, namely net income and other comprehensive loss. Other comprehensive loss refers to revenue,
expenses, gains and losses that under U.S. GAAP are recorded as an element of shareholders’ equity but are excluded from net
income (loss). Other comprehensive loss includes items such as results of foreign currency translation adjustment.

The
Company computes earnings or loss per share (“EPS”) in accordance with ASC 260, “Earnings per Share”. ASC 260
requires companies to present basic and diluted EPS. Basic EPS is measured as net income attributable to the Company divided by the weighted
average ordinary share outstanding for the period. Diluted EPS presents the diluted effect on a per share basis of the potential ordinary
shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented,
or issuance date, if later. Potential ordinary shares that have an anti-dilutive effect (i.e., those that increase income per share or
decrease loss per share) are excluded from the calculation of diluted EPS. For the six months ended September 30, 2024 and 2023,
there were no dilutive shares.

<div align='center'>F-73

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

Fair
value is defined as the price that would be received for an asset, or paid to transfer a liability, in an orderly transaction between
market participants at the measurement date. Valuation techniques maximize the use of observable inputs and minimize the