Company: GCL
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001213900-25-069672
Chunk: 210

Company: GCL Global Holdings Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 210
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,155               $65,827,057  
  Unaudited pro forma net income                $2,140,643                $4,586,525  

  Cash                                               $6,550  
  *Contingent consideration for acquisition       3,360,848  
  Total consideration at fair value              $3,367,398  

  As of the acquisition date of 2Game, the fair value of the contingent consideration for acquisition was determined to be $ 3,360,848, which included around $ 55,000 outperformance consideration...  
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F-33

GCL GLOBAL HOLDINGS LTD
AND ITS SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

The following table summarizes the fair value
of the identifiable assets acquired and liabilities assumed at the acquisition date, which represents the net purchase price allocation
at the date of the acquisition of 2Game:

                                  Fair value                  
  Total consideration             $                3,367,398  
  Non-controlling interest                         2,590,000  
  Less: net assets of 2Game:                                  
  Cash                                                   428  
  Prepayments                                          7,338  
  Intangible assets                                4,742,000  
  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 of4.6years 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 the100% 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