Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 48

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 48
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 we may seek to enter into settlements with the tax authorities which may require significant payments
and may adversely affect its results of operations or financial condition. we may also appeal against the tax authorities’ determinations
to the appropriate governmental authorities, but we cannot be sure we will prevail. If our appeal does not prevail, it may have to make
significant payments or otherwise record charges (or reduce tax assets) that could adversely affect its results of operations, financial
condition and cash flows. Similarly, any adverse or unfavorable determinations by tax authorities on pending inquiries could lead to increased
taxation on us, that may adversely affect its business, financial condition and results of operations and may also impact its reputation,
including but not limited to tax and other regulatory authorities in Southeast Asia.

Companies and governmental agencies may restrict access to platforms, our website or the Internet generally, which could lead to the loss or slower growth of our gamer base.

Our gamers generally need to
access the Internet. Access to the Internet in a timely fashion is necessary to provide a satisfactory gamer experience to the gamers
of our games. Companies and governmental agencies could block access to any platform, our website, or the Internet generally, or could
limit the speed of data transmissions, for a number of reasons such as security or confidentiality concerns or regulatory reasons. In
addition, telecommunications companies may implement certain measures, such as increased cost or restrictions based on the type or amount
of data transmitted, that would impact gamers’ ability to access our games. If companies or governmental entities block or limit
such access or otherwise adopt policies restricting gamers from playing our games, our business could be negatively impacted and could
lead to the loss or slower growth of our gamer base.

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Risks Related to the Company Operating in China

The uncertainties and quick change of the legal system in China with little advance notice could limit the legal protections available or impose additional requirements and obligations on our business operation in Hong Kong, which may materially and adversely affect our business, financial condition, and results of operations.

Although we are based in Singapore
and our major markets are in southeast Asia, we have recently formed a wholly-owned subsidiary in Hainan province in China to support
our collaboration efforts with game developers and a game platform in China, and a wholly-owned subsidiary in the U.K. to support our
game publishing and game development business in Europe. We are subject to certain risks related to operating business in China. Epicsoft
Hong Kong and 2Game, two