Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 38

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 38
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 the fact that we may be required to pay contingent consideration in excess of the initial fair value,                              
 and contingent consideration may become payable at a time when we do not have sufficient cash available to pay such consideration; |

| ● | the fees and costs of legal, accounting, and other professional advisors engaged by us for such acquisitions, 
 which may be substantial;                                                                                     |

| ● | under purchase accounting, we may be required to write off deferred revenue which may impair our ability                                     
 to recognize revenue that would have otherwise been recognizable which may impact our financial performance or that of the acquired company; |

| ● | risks associated with our expansion into new international markets and doing business internationally,                         
 including those described under the caption “Our international operations are, and our strategy to expand internationally will 
 be, subject to increased challenges and risks”;                                                                                |

| ● | in the case of foreign acquisitions, the need to integrate operations across different regulatory environment,                               
 cultures and languages and to address the particular economic, currency, political, and regulatory risks associated with specific countries; |

| ● | the potential loss of, or harm to, our relationships with employees, gamers, content licensors, and other 
 suppliers as a result of integration of new businesses;                                                   |

| ● | our dependence on the accuracy and completeness of statements and disclosures made or actions taken by                             
 the companies we acquire or their representatives, when conducting due diligence and evaluating the results of such due diligence; |

| ● | liability for activities of the acquired company before the acquisition, including intellectual property                                        
 and other litigation claims or disputes, cyber and information security vulnerabilities, violations of laws, rules, and regulations, commercial 
 disputes, tax liabilities, and other known and unknown liabilities; and                                                                         |

| ● | we may not be able to effectively influence the operations of our joint ventures, or we may be exposed 
 to certain liabilities if our joint venture partners do not fulfill their obligations.                 |

<div align='center'>17</div>

The benefits of an acquisition,
investment, or joint venture may also take considerable time to develop, and we cannot be certain that any particular transaction will
produce the intended benefits, which could adversely affect our business, financial condition, or results of operations. Our ability to
grow through future acquisitions, investments, and joint ventures will depend on the availability of suitable candidates at an acceptable
cost, our ability to compete effectively to attract these candidates, and the availability of financing to complete larger transactions.
In addition, depending upon the duration and extent of shelter-in-place, travel