Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 304

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 304
---
           |      - |
| Period-average SGD: US$1 exchange rate |     |                              | 1.3362 |     |      | 1.3443 |     |           | 1.3447 |
| Period-average HKD: US$1 exchange rate |     |                              | 7.2023 |     |      | 7.8317 |     |           | 7.8246 |
| Period-average MYR: US$1 exchange rate |     |                              | 4.3513 |     |      | 4.5740 |     |           | 4.6409 |
| Period-average RMB: US$1 exchange rate |     |                              | 7.2023 |     |      |      - |     |           |      - |
| Period-average BRL: US$1 exchange rate |     |                              | 5.3784 |     |      |      - |     |           |      - |

The
Company accounts for its business combinations using the acquisition method of accounting in accordance with ASC 805 “Business
Combinations.” The cost of an acquisition is measured as the aggregate of the acquisition date fair value of the assets transferred
to the sellers and liabilities incurred by the Company and equity instruments issued. Transaction costs directly attributable to the
acquisition are expensed as incurred. Identifiable assets and liabilities acquired or assumed are measured separately at their fair values
as of the acquisition date, irrespective of the extent of any non-controlling interests. The excess of (i) the total costs of acquisition,
fair value of the non-controlling interests and acquisition date fair value of any previously held equity interest in the acquiree over
(ii) the fair value of the identifiable net assets of the acquiree is recorded as goodwill. If the cost of acquisition is less than
the fair value of the net assets of the subsidiaries acquired, the difference is recognized directly in the consolidated statements of
operation and comprehensive loss. During the measurement period, which can be up to one year from the acquisition date, the Company may
record adjustments to the assets acquired and liabilities assumed with the corresponding offset to goodwill. Upon the conclusion of the
measurement period or final determination of the values of assets acquired or liabilities assumed, whichever comes first, any subsequent
adjustments are recorded to the consolidated statements of operation and comprehensive loss.

For
the Company’s non-wholly owned subsidiaries, a non-controlling interest is recognized to reflect portion of equity that is not
attributable