Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 233

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 233
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 |
| Accretion of change in fair value of ordinary shares subject to possible redemption |     | $                   |      12,652 |   |     | $    |            |   |
| Recognition of initial right-of-use assets and lease liabilities                    |     | $                   |   1,512,807 |   |     | $    |    123,014 |   |
| Recognition of non-controlling interest from acquisition of subsidiaries            |     | $                   |     564,546 |   |     | $    |  2,590,000 |   |
| Recognition of acquisition payable for acquiring 2Game                              |     | $                   |           — |   |     | $    |  4,293,000 |   |
| Share issuance for acquisition payable                                              |     | $                   |     266,214 |   |     | $    |          — |   |
| Deferred merger costs included in other payables and accrued liabilities            |     | $                   |     167,426 |   |     | $    |          — |   |

The following table provides a reconciliation
of cash and cash equivalents, and restricted cash reported within the statement of financial position that sum to the total of the same
amounts shown in the statement of cash flows:

|                                                      |     |     | March 31, 
      2024 |     |     | March 31, 
      2023 |
|:-----------------------------------------------------|:----|:----|----------:|:----|:----|----------:|
| Cash and cash equivalents                            |     |     | 2,677,059 |     |     | 2,543,045 |
| Restricted cash                                      |     |     | 1,656,678 |     |     | 1,288,561 |
| Total cash and cash equivalents, and restricted cash |     |     | 4,333,737 |     |     | 3,831,606 |

<div align='center'>The
accompanying notes are an integral part of these consolidated financial statements.

F-20

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Note 1 — Nature of business and organization

GCL Global Limited (“GCL Global” or
the “Company”) was incorporated and registered as an exempted Company with limited liability on September 8, 2023, under
the