Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 282

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 282
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31, 2024 |   |     |   | March 31, 2023 |   |
|:---------------------------------------|:----|:--|---------------:|:--|:----|:--|---------------:|:--|
| Deferred Tax Assets                    |     |   |                |   |     |   |                |   |
| Net operating loss carryforwards       |     | $ |        409,891 |   |     | $ |        121,939 |   |
| Allowance for credit loss              |     |   |         99,714 |   |     |   |         18,885 |   |
| Lease liabilities                      |     |   |        315,935 |   |     |   |        167,897 |   |
| Inventory write-off                    |     |   |        180,329 |   |     |   |         76,263 |   |
| Less: valuation allowance              |     |   |         (7,916 | ) |     |   |         (5,874 | ) |
| Deferred tax assets, net               |     | $ |        997,953 |   |     | $ |        379,110 |   |
| Deferred tax liabilities:              |     |   |                |   |     |   |                |   |
| Right of use assets                    |     | $ |        325,463 |   |     | $ |        175,689 |   |
| Amortization of intangible assets      |     |   |        557,031 |   |     |   |        718,096 |   |
| Deferred tax liabilities               |     | $ |        882,494 |   |     | $ |        893,785 |   |
| Deferred tax assets (liabilities), net |     | $ |        115,459 |   |     | $ |       (514,675 | ) |

<div align='center'>F-50

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

As of March 31, 2024, the Company had net operating
losses carry forward from GCL Global SG, Titan Digital, Starry, Martiangear, and Epicsoft Malaysia combined amounted to $2,378,580. The
net operating losses from GCL Global SG and Martiangear can