Company: GCL
Filing Date: 2025-09-05
Form Type: F-1/A
Source: 0001213900-25-085150
Chunk: 244

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-05
Form: F-1/A
Chunk 244
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|:-----|----------:|:----|:-----|----------:|
| Accrued payroll and welfare |     | $    |   127,473 |     | $    |   165,523 |
| Accrued expenses (i)        |     |      |   408,370 |     |      | 1,381,338 |
| Other payables (ii)         |     |      | 1,666,948 |     |      | 1,554,725 |
| Investment payable (iii)    |     |      | 2,500,000 |     |      |         - |
| Total accrued expenses      
 and other liabilities       |     | $    | 4,702,791 |     | $    | 3,101,586 |

| (i) | The balance of accrued expenses represented accrued professional fee amount to $109,520 and other miscellaneous fee. |

| (ii)  | The balance of other payables mainly consists of the deposit received from a third party as co-publisher’s minimum guarantee in game development for game publishing operations. Such balance is recoupable by above the third party upon certain minimum sales targets of the games achieved after the game’s launch. |
| (iii) | The balance of investment payable relates to the Company’s investment in Nekcom, and consists of $2,500,000 in cash consideration, which the Company has agreed to pay on or before August 16, 2025.                                                                                                                   |

Note 16 — Convertible Notes and Derivative Liabilities From September 30, 2024 to December 2024, the Company, GCL Global, and Epic SG, entered into convertible note purchase agreements (the “Note Purchase Agreements”) with each of certain accredited investors (the “Transaction Investors”) pursuant to which the Transaction Investors have agreed to pay GCL Global an aggregate of $ 33,025,000for certain convertible notes (the “Note”) which shall automatically convertible into GCL Global’s fully paid and nonassessable ordinary shares that would be exchanged for 7,338,887shares of Merger Consideration Shares (as defined in the Merger Agreement) at $ 4.50per share at the closing of the transactions (the “Conversion Date”) contemplated by the Merger Agreement (the “Business Combination”). The number of Merger Consideration Shares is determined based on the Exchange Ratio established in the Merger Agreement. Pursuant to the Note