Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 26

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 the identified tangible and intangible assets acquired based on their estimated fair values at the
acquisition date as follows:

  Schedule of Identified Tangible and Intangible Asset Acquired

    Accounts receivable, net 
     124,928 
  
    Other Receivables 
     50,817 
  
    Intangible assets 
     234,000 
  
    Goodwill 
     1,315,000 
  
    Total assets 
    $1,724,745 

    Accounts payable and other liabilities 
    $(175,543)
  
    Director’s Loan 
     (558,632)
  
    Total liabilities 
    $(734,175)

    Total net assets of Acquiree 
    $990,570 

     F-15 

Note
4. Property and Equipment, net

Property
and equipment, net as of June 30, 2025 and December 31, 2024, consisted of the following:

Schedule of Property and Equipment 

    June 30, 2025  
    December 31, 2024 

    Computers and equipment 
    $123,911  
    $123,911 
  
    Furniture and fixtures 
     16,900  
     16,900 
  
    Software 
     2,026,200  
     2,026,200 
  
    Property and equipment 
     2,159,596  
     2,167,011 
  
    Accumulated depreciation 
     (2,156,971) 
     (2,154,887)
  
    Property and equipment, net 
    $2,660  
    $12,124 

Depreciation
expense for the three months ended June 30, 2025 was $1,579 and
was $2,831 for
the three months ended June 30, 2024.

Note
5. Prepaid Expenses

Prepaid
expenses consist primarily of advertising credits from two top tier media organizations that operate in the United States. The advertising
credits were obtained in return for warrants, shares of common stock and shares of preferred stock. The agreements do not specify a time
period for utilizing these credits and there is no requirement to provide cash or other consideration in connection with utilizing them.
The balance can be utilized at any time at the mutual consent of the parties. The Company expects to begin utilizing these credits in
the second half of 202