Company: GCL
Filing Date: 2025-04-03
Form Type: F-1
Source: 0001213900-25-028608
Chunk: 270

Company: GCL Global Holdings Ltd
Filing Date: 2025-04-03
Form: F-1
Chunk 270
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 of 2Game:

|                            |     | Fair value       
 as of            
 acquisition date |           |   |
|:---------------------------|:----|:-----------------|----------:|:--|
| Total consideration        |     | $                | 3,367,398 |   |
| Non-controlling interest   |     |                  | 2,590,000 |   |
| Less: net assets of 2Game: |     |                  |           |   |
| Cash                       |     |                  |       428 |   |
| Prepayments                |     |                  |     7,338 |   |
| Intangible assets          |     |                  | 4,742,000 |   |
| Total assets               |     |                  | 4,749,766 |   |
| Accounts payable           |     |                  |   (33,382 | ) |
| Deferred tax liability     |     |                  |  (806,140 | ) |
| Total liabilities          |     |                  |  (839,522 | ) |
| Total net assets of 2Game  |     |                  | 3,910,244 |   |
| Goodwill                   |     | $                | 2,047,154 |   |

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 customer relationships, with estimated useful lives of 4.6 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, identifiable intangible assets acquired, and noncontrolling interest in
2Game through using income approach based on the following factors: (a) Assumptions on the market and the asset that are considered
to be fair and reasonable; (b)Financial performance that shows a consistent trend of the operation; (c) Consideration and analysis
on the micro and macro economy affecting the subject asset; (d)Analysis on tactical planning, management standard and synergy of the subject
assets; (e) analytical review of the subject asset; and (f) assessment of the leverage and liquidity of the subject asset. The
significant assumption being used by the Company includes financial forecast, discount rate and attribution rate.