Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 378

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 378
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 operating or reportable segments.
Since the Company operates in one operating segment, all required financial segment information can be found in the financial statements.

Recently Adopted Accounting Pronouncements

In August 2020, the FASB issued
ASU No. 2020-06 Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in
Entity’s Own Equity (Subtopic 815–40) (“ASU 2020-06”). ASU 2020-06 simplifies the accounting for certain financial
instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity.
The ASU is part of the FASB’s simplification initiative, which aims to reduce unnecessary complexity in GAAP. The ASU’s amendments
are effective for smaller reporting companies for fiscal years beginning after December 15, 2023, and interim periods within those fiscal
years. The Company adopted ASU 2020-06 on January 1, 2024. The adoption of ASU 2020-06 did not have a material impact on the Company’s
financial statements and disclosures.

In November 2023, the FASB
issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07, which is applicable to
entities with a single reportable segment, will primarily require enhanced disclosures about significant segment expenses and enhanced
disclosures in interim periods. The guidance in ASU 2023-07 will be applied retrospectively and is effective for annual reporting periods
in fiscal years beginning after December 15, 2023 and interim reporting periods in fiscal years beginning after December 31, 2024, with
early adoption permitted. The Company adopted this guidance as of January 1, 2024. The adoption resulted in disclosure changes only.

<div align='center'>F-111</div>

Recent Accounting Pronouncements

In December 2023, the FASB
issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires additional quantitative
and qualitative income tax disclosures to enable financial statements users to better assess how an entity’s operations and related
tax risks and tax planning and operational opportunities affect its tax rate and prospects for future cash flows. For public business
entities, ASU