Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 164

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 164
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,389  
     77,822  
     (37,433) 
     -48%

Interest Expense. Interest
expense for the three months ended June 30, 2025 was $64,000 vs interest expense of $122,000 for the three months ended June 30, 2024,
a decrease of $57,000 or 47%. Interest expense relates to notes payable from the time of the business combination plus interest on more
recent convertible notes from Woodford, UCIL, and Univest. Interest accrual for convertible debt was lower for the three months ended
June 30, 2025 due to lower balances for convertible debt as a result of conversions to equity.

Other
(Income) Expense. Other (Income) for the three months ended June 30, 2025 was $24,000 vs $44,000 for the three months ended
June 30, 2024, an decrease of $20,000 or 45%. The amount for June 30 2024 is the result of a reclassification of expenses.

Six
Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024

The
following table summarizes our results of operations for the six months ended June 30, 2025 and June 30, 2024, respectively.

    For the six months Ended June 30,  

    2025  
    2024  
    $ Change  
    % Change 

    Revenue 
    $415,611  
    $516,317  
     (100,706) 
     -20%
  
    Cost of revenue 
     325,201  
     129,357  
     195,844  
     151%
  
    Gross profit 
     90,410  
     386,960  
     (296,550) 
     -77%

    Operating expenses: 

    Personnel costs 
     1,125,603  
     2,774,665  
     (1,649,062) 
     -59%
  
    Professional fees 
     2,429,077  
     3,564,038  
     (1,134,961) 
     -32%
  
    General and administrative 
     1,862,541  
     2,917,052