Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 332

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 332
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 assets                     |     |             | 191,635 |   |
| Accounts payable                 |     |             | (17,457 | ) |
| Deferred tax liability           |     |             | (13,197 | ) |
| Total liabilities                |     |             | (30,654 | ) |
| Total net assets of Martiangear  |     |             | 160,981 |   |
| Goodwill                         |     | $           | 674,367 |   |

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 trademark and license, with estimated useful lives of 7.45 years
and 0.82 year, respectively, 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, and identifiable intangible
assets acquired, in Martiangear through using income approach based on a number of factors including in the valuations from the third-party
appraiser. The significant assumptions being used by the Company include revenue forecast and discount rate.

The
fair value of the licenses and trademarks was estimated using a relief-from-royalty method. This method calculates fair value by assuming
that if the licenses and trademarks were to be acquired from third-party owners, a royalty rate on revenue would be charged for the privilege
of using the assets. Consequently, the fair value of the licenses and trademarks represents the present value of the after-tax royalties
saved as a result of owning the legal right to utilize them.

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 game.

Note 4 — Accounts receivable, net

As of September 30,
2024 and March 31, 2024, accounts receivables were comprised of the following:

|                                                     |     | September 30, 
 2024          
 (Unaudited)   |            |   |     | March 31, 
 2024      |            |   |
|:----------------------------------------------------|:----|:--------------|-----------:|:--|:----|:----------|-----------:|:--|
| Receivables from console game