Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 252

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 252
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 other payables and accrued liabilities line in the consolidated balance sheets.

The Company 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 March 31, 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 March 31, 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 March 31, 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 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.

<div align='center'>F-33

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

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 years ended March 31, 2024 and 2023, there were no dilutive shares.

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