Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 264

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 264
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 Starry: |     |                  |         |   |
| Cash                        |     |                  | 128,843 |   |
| Inventory                   |     |                  |  57,102 |   |
| Prepaid expense             |     |                  |  34,202 |   |
| Deposit Paid                |     |                  |     442 |   |
| Intangible asset            |     |                  | 131,810 |   |
| Total assets                |     |                  | 352,399 |   |
| Accounts payable            |     |                  |  (9,796 | ) |
| Other payable               |     |                  | (23,896 | ) |
| Deferred tax liability      |     |                  | (23,034 | ) |
| Total liabilities           |     |                  | (56,726 | ) |
| Total net assets of Starry  |     |                  | 295,673 |   |
| Goodwill                    |     | $                | 268,873 |   |

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 licenses, with estimated useful lives of 1.0 years 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 100% equity interest, and identifiable intangible assets acquired, in Starry through using income
approach based on a number of factors including in the valuations from the third-party appraiser. The significant assumption being used
by the Company includes financial forecast and discount rate. Acquisition-related costs incurred for the acquisitions are not material
and have been expensed as incurred in general and administrative expense.

The fair value of the licenses was estimated using
a relief-from-royalty method. This method calculates fair value by assuming that if the license were to be acquired from a third-party
owner, a royalty rate on revenue would be charged for the privilege of using the asset. Therefore, the fair value of the licenses represents
the present value of the after-tax royalties saved as a result of owning the legal right to utilize the licenses.

The goodwill, which is not deductible for income
tax purposes, is primarily attributed to the enhanced brand recognition expected from integrating Starry’s operations. The