Company: GCL
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-070094
Chunk: 208

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 424B3
Chunk 208
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Consideration Share”)                            
 to the Vendors on the Acquisition Date. In the event that the Company fail to become a listed   
 company within 24 months from the Completion Date, the Company irrevocably undertakes to        
 purchase all of the Consideration Share from the Vendors for a cash consideration of $700,000.  
 Given the condition of whether the company can become a listed entity within 24 months is       
 not solely within the control of the Company and in accordance with ASC 480-10-S99, the Company 
 record the fair value of the issuance of the Consideration Shares in Tranche 1 to the Vendors   
 as mezzanine equity.                                                                            |

| ● | Tranche                                                                            
 2 — An aggregate total of $148,000 cash consideration issue to the Vendors which   
 include (1) $48,000 due on the Completion Date, (2) $50,000 due on one month after 
 the Completion Date, and (3) $50,000 due on two months after the Completion Date.  |

As of the date of the issuance of these financial statements, the Company had issued 217,724 of its ordinary shares to the Vendors and paid
$148,000 in cash consideration as agreed upon in Tranche 2 payment terms. On February 13, 2025, the 217,724 ordinary shares were reclassified
from mezzanine equity to permanent equity as a result of the Company becoming a listed company.

The Company’s acquisition
of Martiangear was accounted for as a business combination in accordance with ASC 805. The Company has allocated the purchase price of
Martiangear based upon the fair value of the identifiable assets acquired and liabilities assumed on the acquisition date. The Company
estimated the fair values of the assets acquired and liabilities assumed at the acquisition date in accordance with the business combination
standard issued by the FASB using the fair value approach. Management of the Company is responsible for determining the fair value of
assets acquired, liabilities assumed, and intangible assets identified as of the acquisition date. Acquisition-related costs incurred
for the acquisitions were not material and were expensed as incurred in general and administrative expenses.

<div align='center'>F-30

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Based on assessments using
the income test, asset test, and investment test pursuant to S-X Rule 3-05, the Company