Company: GCL
Filing Date: 2025-09-04
Form Type: F-1
Source: 0001213900-25-084489
Chunk: 226

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-04
Form: F-1
Chunk 226
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 |  92,889 |   |
| Intangible asset                 |     |             |  85,675 |   |
| Total assets                     |     |             | 191,635 |   |
| Accounts payable                 |     |             | (17,457 | ) |
| Deferred tax liability           |     |             | (13,197 | ) |
| Total liabilities                |     |             | (30,654 | ) |
| Total net assets of Martiangear  |     |             | 160,981 |   |
| Goodwill                         |     | $           | 674,367 |   |

F-31 GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The purchase price was allocated
to the identifiable intangible assets acquired and liabilities assumed based on their acquisition date estimated fair values. The identifiable
intangible assets principally included trademark and license, with estimated useful lives of years and year, respectively,
based on the expected future economic benefit of the assets and are being amortized over the estimated useful life in proportion to the
economic benefits consumed using the straight-line method.

The Company, with the assistance
of a third-party appraiser, assessed the fair value of the % equity interest, and identifiable intangible assets acquired, in Martiangear
through using income approach based on a number of factors including in the valuations from the third-party appraiser. The significant
assumptions being used by the Company include revenue forecast and discount rate.

The fair value of the licenses
and trademarks was estimated using a relief-from-royalty method. This method calculates fair value by assuming that if the licenses and
trademarks were to be acquired from third-party owners, a royalty rate on revenue would be charged for the privilege of 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 % owned subsidiary, GCL Global SG, entered into a share purchase agreement (the “SPA”) with three unrelated parties to acquire a % equity interest in 2Game. 2Game, incorporated in Hong Kong, primarily engages