Company: GCL
Filing Date: 2025-09-05
Form Type: F-1/A
Source: 0001213900-25-085150
Chunk: 279

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-05
Form: F-1/A
Chunk 279
---
. ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 — Include other inputs that are directly or indirectly observable in the marketplace. Level 3 — Unobservable inputs which are supported by little or no market activity. ASC 820 describes three main approaches to measuring the fair value of assets and liabilities: (1) market approach; (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. Assets and liabilities measured at fair value on a recurring basis as of March 31, 2025 and 2024 are summarized below:

| As of March 31, 2025            |     | Quoted prices in active markets for identical instruments (Level 1) |   |     | Significant              
 observable inputs        
 other than quoted prices 
 (Level 2)                |   |     | Significant         
 unobservable inputs 
 (Level 3)           |           |
|:--------------------------------|:----|:--------------------------------------------------------------------|:--|:----|:-------------------------|:--|:----|:--------------------|----------:|
| Investment in convertible notes |     |                                                                     | – |     |                          | – |     |                     | 3,502,200 |
| As of March 31, 2024            |     |                                                                     |   |     |                          |   |     |                     |           |
| Investment in convertible notes |     |                                                                     | – |     |                          | – |     |                     | 3,502,200 |

The fair values of the investment in convertible notes were estimated using the Black-Scholes Model. The key inputs to the model are as follows:

|                                         |     | As of March 31, |             |   |     |      |             |   |
|                                         |     |            2025 |             |   |     | 2024 |             |   |
| Expected volatility*                    |     |                 | 24.1%-124.5 | % |     |      | 20