Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 34

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 34
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3, was co-published by us and Focus Entertainment, a game developer company based in Abu
Dhabi. We typically have limited control over the work performed by the development company and are therefore subject to additional risks
than if our own employees were developing and operating our games, such that completion of our games and their publication could be delayed
due to the development company’s failure to adhere to our milestones and roadmaps, or political or other risks in the foreign country
in which the development company operates. If our third-party game development companies fail to complete development milestones in accordance
with our game development roadmap, or do not perform in accordance with our agreements with them, it could adversely affect the development
of our games that are the subject of that agreement, including delaying their availability for launch and their performance once launched,
which could materially and adversely impact our ability to meet our forecasts.

<div align='center'>14</div>

Once a co-published game is
launched, we will be reliant on the development company’s ability to maintain an adequate number of knowledgeable and experienced
personnel to operate and maintain the co-developed game or existing game successfully and to develop and implement future game updates,
patches and bug fixes, as well as provide ongoing support services. If the development companies fail to operate and maintain the co-developed
game or existing game, it could adversely affect such game’s performance and gamer satisfaction, and our business may suffer as
a result. Further, if the game development companies breached our agreements with them, or unilaterally elected to discontinue providing
services, we would have to find a substitute provider or replace the lost services internally, which could disrupt the operation of the
games and result in dissatisfied gamers, increased expenses, lost revenues, and other adverse effects.

In addition, a co-published
game may incorporate intellectual property owned by the applicable development company. In such cases, we have or will obtain licenses
to use the intellectual property as integrated with and into the co-developed game, but we will not own such intellectual property. If
the third-party game developer challenged our right to use its intellectual property or the manner in which we use such intellectual property,
it could materially and adversely affect our ability to continue to publish the co-developed game.

If we do not successfully invest in, establish and maintain awareness of our brands and games, or if we incur excessive expenses promoting and maintaining our brands or our games, our business, financial condition, results of operations, or reputation could be harmed.