Company: GCL
Filing Date: 2025-09-09
Form Type: 424B3
Source: 0001213900-25-086274
Chunk: 259

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-09
Form: 424B3
Chunk 259
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| 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.

The fair value of the non-controlling
interest in 2Game’s was measured based on significant inputs that are not observable in the market and thus represents a Level 3
measurement. Key assumption includes adjustments because of the lack of control that market participants would consider when estimating
the fair value of the noncontrolling interest in 2Game.

The fair value of client
relationships was estimated using a multi-period excess earnings method. To calculate fair value, the Company estimated the attribution
rate and used cash flows discounted at a rate considered appropriate given the inherent risks associated with each client grouping.

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