Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 328

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 328
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ENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

The
following table summarizes the fair value of the identifiable assets acquired and liabilities assumed at the acquisition date, which
represents the net purchase price allocation at the date of the acquisition of Martiangear:

|                                  |     | Fair value  
 as of       
 acquisition 
 date        |         |   |
| Total consideration              |     |             | 835,348 |   |
| Less: net assets of Martiangear: |     |             |         |   |
| Cash                             |     |             |   8,263 |   |
| Accounts receivable              |     |             |   4,808 |   |
| Inventory                        |     |             |  92,889 |   |
| Intangible asset                 |     |             |  85,675 |   |
| Total assets                     |     |             | 191,635 |   |
| Accounts payable                 |     |             | (17,457 | ) |
| Deferred tax liability           |     |             | (13,197 | ) |
| Total liabilities                |     |             | (30,654 | ) |
| Total net assets of Martiangear  |     |             | 160,981 |   |
| Goodwill                         |     | $           | 674,367 |   |

The
purchase price was allocated to the identifiable intangible assets acquired and liabilities assumed based on their acquisition date estimated
fair values. The identifiable intangible assets principally included trademark and license, with estimated useful lives of 7.45 years
and 0.82 year, respectively, based on the expected future economic benefit of the assets and are being amortized over the estimated useful
life in proportion to the economic benefits consumed using the straight-line method.

The
Company, with the assistance of a third-party appraiser, assessed the fair value of the 100% equity interest, and identifiable intangible
assets acquired, in Martiangear through using income approach based on a number of factors including in the valuations from the third-party
appraiser. The significant assumptions being used by the Company include revenue forecast and discount rate.

The
fair value of the licenses and trademarks was estimated using a relief-from-royalty method. This method calculates fair value by assuming
that if the licenses and trademarks were to be acquired from third-party owners, a royalty rate on revenue would be charged for the privilege
of using the assets. Consequently, the