Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 321

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 321
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 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 liability that were accounted for at fair value on
a recurring basis as of September 30, 2024 and March 31, 2024:

|                                          |     | 2024 | Carrying Value at 
     September 30, |     | Level 1 | Fair Value Measurement at 
 September 30, 2024        |     | Level 2 |   |     | Level 3 |           |
|:-----------------------------------------|:----|:-----|------------------:|:----|:--------|:--------------------------|:----|:--------|:--|:----|:--------|----------:|
| Contingent consideration for acquisition |     | $    |         3,426,385 |     | $       | -                         |     | $       | - |     | $       | 3,426,385 |

|                                          |     | 2024 | Carrying Value at