Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 217

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 217
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 business synergies between
both parties, the Company provided a loan to 2Game LLC.

Note 11 - Property and equipment, net

Property and equipment consist of the following:

                                         March 31,                       March 31,                 
                                         2025                            2024                      
 ───────────────────────────────────────────────────────────────────────────────────────────────────
  Office equipment                       $                1,003,594      $                822,262  
  Furniture & Fitting                                        70,563                        68,490  
  Office and warehouse renovation                           455,313                       431,293  
  Subtotal                                                1,529,470                     1,322,045  
  Less: accumulated depreciation                        ( 1,149,155                     ( 816,934  
  Total property and equipment, net      $                  380,315      $                505,111  

Depreciation expenses for
the years ended March 31, 2025, 2024, and 2023 were amounted to $328,948, $320,308and $297,069, respectively. The Company recognized
loss from disposal of property and equipment were nil, $57,202and nilfor the years ended March 31, 2025, 2024, and 2023, respectively.

Note 12 - Definite-lived Intangible assets, net

Definite-lived intangible assets consisted of
the following:

                                              March 31,                       March 31,                   
                                              2025                            2024                        
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────
  Customer relationships                      $                4,594,812      $                4,594,812  
  License                                                        139,865                         139,865  
  Trademark                                                      224,809                         224,809  
  Less: accumulated amortization                             ( 2,751,634                     ( 1,686,260  
  Total definite-lived intangible assets      $                2,207,852      $                3,273,226  

F-38

GCL GLOBAL HOLDINGS LTD
AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Amortization expense for
years ended March 31, 2025, 2024 and 2023 was amounted to $1,065,373, $1,168,358and $517,902, respectively.

The