Company: GCL
Filing Date: 2025-08-27
Form Type: DRS
Source: 0001213900-25-080905
Chunk: 226

Company: GCL Global Holdings Ltd
Filing Date: 2025-08-27
Form: DRS
Chunk 226
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assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not
be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the
asset and its eventual disposition. Measurement of any impairment loss for identifiable intangible assets is based on the amount by which
the carrying amount of the assets exceeds its fair value determined by using a discounted cash flow model.

The Company accounts for
equity investments without a readily determinable fair value under ASC 321, Investments - Equity Securities. Such investments are initially
measured at cost and subsequently adjusted for observable price changes and impairments, if applicable. Impairment assessments are conducted
at each reporting date, and any impairment losses are recognized in the consolidated statement of operations and comprehensive income
(loss). Equity investments are evaluated to determine whether they meet the definition of in-substance common stock under ASC 323, Investments
- Equity Method and Joint Ventures. Investments that fail to meet this definition are not accounted for under the equity method. Instead,
they are classified and measured in accordance with ASC 321.

Goodwill represents the
excess of the consideration paid of an acquisition over the fair value of the net identifiable assets of the acquired subsidiaries at
the date of acquisition. Goodwill is not amortized and is tested for impairment at least annually, or more often when circumstances indicate
impairment may have occurred. Goodwill is carried at cost less accumulated impairment losses. If impairment exists, goodwill is immediately
written off to its fair value and the loss is recognized in the consolidated statements of operations and comprehensive income (loss).
Impairment losses on goodwill are not reversed.

<div align='center'>F-13

GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

The Company reviews the
carrying value of intangible assets not subject to amortization, including goodwill, to determine whether impairment may exist annually
or more frequently if events and circumstances indicate that it is more likely than not that an impairment has occurred. Management has
determined that the Company has two reporting units within the entity at which goodwill is monitored for internal management purposes.

The table below summarizes the changes in the
carrying amount of goodwill for each reporting unit:

| Balance at March 31, 2022 |     | Console 
 Game    |         - |     | Publishing | - |     | Media       
 Advertising