Company: GCL
Filing Date: 2025-09-05
Form Type: F-1/A
Source: 0001213900-25-085150
Chunk: 224

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-05
Form: F-1/A
Chunk 224
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 | 564,546 |   |
| Less: net assets of 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 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 % 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
assumptions used by the Company include financial forecast and discount rate.

F-29 GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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