Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 305

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 305
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 September 30, 2024, and 2023, impairment losses of nil and $4,143, respectively, were recorded against
indefinite-lived intangible assets.

<div align='center'>F-66

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</div>

Definite-lived
intangible assets consisted primarily of customer relationships, trademark and license. The estimated useful life and amortization methodology
of intangible assets are determined based on the period in which they are expected to contribute directly to cash flows in accordance
with ASC Topic 350 “Intangibles — Goodwill and Other”. Intangible assets that are determined to have a definite life
are amortized over the life of the asset.

Definite-lived
intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets
may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the
use of the asset and its eventual disposition. Measurement of any impairment loss for identifiable intangible assets is based on the
amount by which the carrying amount of the assets exceeds its fair value determined by using a discounted cash flow model.

Goodwill
represents the excess of the consideration paid of an acquisition over the fair value of the net identifiable assets of the acquired
subsidiaries at the date of acquisition. Goodwill is not amortized and is tested for impairment at least annually, or more often when
circumstances indicate impairment may have occurred. Goodwill is carried at cost less accumulated impairment losses. If impairment exists,
goodwill is immediately written off to its fair value and the loss is recognized in the consolidated statements of operations and comprehensive
loss. Impairment losses on goodwill are not reversed.

The
Company reviews the carrying value of intangible assets not subject to amortization, including goodwill, to determine whether impairment
may exist annually or more frequently if events and circumstances indicate that it is more likely than not that an impairment has occurred.
Management has determined that the Company has two reporting unit within the entity at which goodwill is monitored for internal management
purposes.

The
table below summarizes the changes in the carrying amount of goodwill for each reporting unit:

|                                           |     | Console 
 Game    |           |     | Publishing |   |     | Media       
 Advertising 
 service     |   |     | Others |         |     | Total |