Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 266

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 266
---
 using the assets. Consequently, the
fair value of the licenses and trademarks represents the present value of the after-tax royalties saved as a result of owning the legal
right to utilize them.

The goodwill is not deductible for income tax purposes
and is related primarily to the expected synergies from combining the operations into the Company’s business operation in console
game.

— Acquisition of 2Game

On July 31, 2022, the Company, through its
100% owned subsidiary, GCL Global SG, entered into a share purchase agreement (the “SPA”) with three unrelated parties to
acquire a 51% equity interest in 2Game. 2Game, incorporated in Hong Kong, primarily engages in the distribution of game codes and other
related consumer items. Pursuant to the SPA, the Company is obligated to an aggregate of up to $6,120,000 consideration which consist
of following five tranches to the aforementioned three parties upon certain conditions are met.

| ● | Tranche 1 — A cash consideration                                         
 of $6,550 is to be paid upon the completion of the acquisition of 2Game. |

| ● | Tranche 2 — A consideration of                                                                                                
 $2,993,450, comprised of 67% in cash and 33% in shares, is to be issued upon the successful listing on the US capital market. |

| ● | Tranche 3 — A consideration of                                                                                                      
 $800,000, comprising 67% in cash and 33% in shares, is to be paid upon 2Game’s achievement in a gross revenue target of $19,400,000 
 and a Net Profit After Tax (NPAT) of $714,273 for the fiscal year ending March 31, 2023.                                            |

| ● | Tranche 4 — A consideration of                                                                                                        
 $1,000,000, comprising 67% in cash and 33% in shares, is to be paid upon 2Game’s achievement in a gross revenue target of $31,072,773 
 and an NPAT of $893,201 for the fiscal year ending March 31, 2024.                                                                    |

| ● | Tranche 5 — A consideration of                                                                                                        
 $1,320,000, comprising 67% in cash and 33% in shares, is to be paid upon 2Game’s achievement in