Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 252

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 252
---
 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 Starry:

|                             |     | Fair value  
 as of       
 acquisition 
 date        |         |   |
|:----------------------------|:----|:------------|--------:|:--|
| Total consideration         |     | $           | 564,546 |   |
| Less: net assets of Starry: |     |             |         |   |
| Cash                        |     |             | 128,843 |   |
| Inventory                   |     |             |  57,102 |   |
| Prepaid expense             |     |             |  34,202 |   |
| Deposit Paid                |     |             |     442 |   |
| Intangible asset            |     |             | 131,810 |   |
| Total assets                |     |             | 352,399 |   |
| Accounts payable            |     |             |  (9,796 | ) |
| Other payable               |     |             | (23,896 | ) |
| Deferred tax liability      |     |             | (23,034 | ) |
| Total liabilities           |     |             | (56,726 | ) |
| Total net assets of Starry  |     |             | 295,673 |   |
| Goodwill                    |     | $           | 268,873 |   |

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 licenses, with estimated useful lives of 1.0 years 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 Starry
through using income approach based on a number of factors including in the valuations from the third-party appraiser. The significant
assumptions used by the Company include financial forecast and discount rate.

<div align='center'>F-29

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

The fair value of the licenses
was estimated using a relief-from-