Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 95

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 95
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 content development
studios to introduce new video game and entertainment properties to Asia’s fast-growing market of gamers, and to introduce original
Asian-developed content to the global market. In December 2024 and April 2025, each of 4Divinity UK and 4Divinity JP was formed as a
wholly-owned subsidiary of 4Divinity to support GCL Group’s game publishing and development business in Europe and Japan, respectively.
As of the date of this Report, GCL Group has either published or co-published twelve (12) games: Black Myth Wukong (physical publishing), S.T.A.L.K.E.R. 2: Heart of Chornobyl, JDM: Japanese Drift Master, Kong: Survivor Instinct, Mandragora- Whispers of the Witch Tree, TerraTech Worlds, First Dwarf, Atomic Heart, Daymare: 1994 Sandcastle, Figment 2: Creed Valley, Windstorm Collection, and Life in Willowdale. Atomic Heart is a video game co-published with Focus Entertainment, an international game studio backed by Chinese
multinational conglomerate, Tencent, and an independent European video game developer and publisher.

We give Valve’s Steam,
Microsoft Xbox and Sony’s PlayStation Network a non-exclusive license to reproduce, publicly display and perform, transmit, sell,
license and otherwise distribute the PC games in object code form, and generate our games publishing revenue on these gaming platforms.
We recognize our games publishing revenue at the point in time when control of the console game code is transferred to the gaming platform,
which specifically occurs when the console game code has been activated. We recognized revenue from game publishing on a gross basis,
and remit to the developer a development fee based on a certain percentage of the revenue generated from the gaming platform. The publishing
agreements we have with the international game studios and developers give us the publishing rights, and typically contain, among other
things, (i) a minimum sales guarantee payable upon achievement of certain milestones before the game is published, (ii) a minimum
guaranteed development fee, (iii) a marketing budget, and (iv) localization services (with specified supported languages).
These agreements typically cover all editions of the game available for release on platforms, including Steam, PlayStation and Xbox,
within a certain pre-determined time period after the first commercial release of the game. In some cases, depending on the number of
games sold, we may be entitled to recoup all or a portion of the marketing