Company: GCL
Filing Date: 2025-04-08
Form Type: 424B3
Source: 0001213900-25-029989
Chunk: 331

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-08
Form: 424B3
Chunk 331
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-party appraiser, assessed the fair value of the 100% 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.

Note 4 — Accounts receivable, net

As of September 30,
2024 and March 31, 2024, accounts receivables were comprised of the following:

|                                                     |     | September 30, 
 2024          
 (Unaudited)   |            |   |     | March 31, 
 2024      |            |   |
|:----------------------------------------------------|:----|:--------------|-----------:|:--|:----|:----------|-----------:|:--|
| Receivables from console game and console game code |     | $             | 13,110,138 |   |     | $         | 15,123,775 |   |
| Receivables from game publishing                    |     |               |    236,121 |   |     |           |  2,282,228 |   |
| Receivables from advertising service                |     |               |    243,621 |   |     |           |    332,540 |   |
| Less: Allowance for credit loss                     |     |               |   (341,854 | ) |     |           |   (325,457 | ) |
| Accounts receivable, net                            |     | $             | 13,248,026 |   |     | $         | 17,413,086 |   |

<div align='center'>F-80

GCL GLOBAL LIMITED AND ITS SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED