Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 241

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 241
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 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 year ended March 31, 2025, 2024, and 2023, the Company had the 16,500,000, 0, and
0 shares of warrants, respectively, outstanding which were not included in the calculation of diluted net (income) loss per ordinary
share because inclusion thereof would be anti-dilutive.

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 use of unobservable inputs. When
determining the fair value measurements for assets and liabilities, we consider the principal or most advantageous market in which it
would transact and consider assumptions that market participants would use when pricing the asset or liability. The following summarizes
the three levels of inputs required to measure fair value, of which the first two are considered observable and the third is considered
unobservable:

Level 1 — Unadjusted quoted prices in active markets
for identical assets or liabilities.

Level 2 — Observable inputs
other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or
other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 — Unobservable inputs
that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The fair value for certain
assets and liabilities such as cash and restricted cash, accounts receivable, net, amount due from related parties, other receivables
and other current assets, prepayments, banking facilities, accounts payable, contract liabilities, amount due to related parties, other
payables and accrued liabilities, and tax payables have been determined to approximate carrying amounts due to the short maturities of
these instruments. The Company believes that its long-term bank facilities approximate the fair value based on current yields for debt
instruments with similar terms.

The following table sets
forth by level within the fair value hierarchy our financial asset and liability that were accounted for at fair value on a recurring
basis As of March 31, 2025 and 2024: