Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 279

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 279
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 SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Note 11 — Other payables and accrued liabilities

|                                              |     |   | March 31, 
      2024 |     |   | March 31, 
      2023 |
|:---------------------------------------------|:----|:--|----------:|:----|:--|----------:|
| Accrued payroll and welfare                  |     | $ |   165,523 |     | $ |    96,183 |
| Accrued expenses(i)                          |     |   | 1,381,338 |     |   |   388,390 |
| Other payables(ii)                           |     |   | 1,554,725 |     |   |         — |
| Total accrued expenses and other liabilities |     | $ | 3,101,586 |     | $ |   484,573 |

| (i) | The balance of accrued expenses represented accrued professional fee, and other miscellaneous fees. |

| (ii) | The balance of other payable mainly consists of the deposit received from a third party as co-publisher’s minimum guarantee                
 in game development for game publishing operations. Such balance is recoupable by above the third party upon certain minimum sales targets 
 of the games achieved after the game’s launch.                                                                                             |

Note 12 — Related party balances and transactions

Related party balances

Amount due from related parties

|                               | Name of related party* |                                                                               | Relationship |                                  | Nature |   |     As of 
 March 31, 
      2024 |     |   |     As of 
 March 31, 
      2023 |
|:------------------------------|:-----------------------|:------------------------------------------------------------------------------|:-------------|:---------------------------------|:-------|:--|----------:|:----|:--|----------:|
| Choo See Wee (“Jacky”)        |                        | CEO of the Company                                                            |              | Interest free loan due on demand |        |   |         — |     |   | 1,935,438 |
| Jianhao Tan*                  |                        | CEO of Titan Digital                                                          |              | Interest free loan due on demand |        |   |    21,880 |     |   |   151,864 |
| Joseph Thomas Van Heeswijk    |                        | Shareholder of the Company                                                    |              | Interest free loan due on