Company: LTRYW
Filing Date: 2025-05-14
Form Type: S-1/A
Source: 0001641172-25-010091
Chunk: 216

Company: Lottery.com Inc.
Filing Date: 2025-05-14
Form: S-1/A
Chunk 216
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 performed an impairment
analysis for the three months ended September 30, 2024 and as a result of that analysis it was determined that impairment charges were
necessary. Impairments of goodwill for $1.6million against TinBu’s goodwill and $1.9million against Global Gaming’s goodwill were recorded and $817,000against intangibles of Global Gaming was recorded. This consisted of impairments against Trade Names & Technology in the amount
of $547,000,
Technology in the amount of $119,000,
and Customer Relationships in the amount of $150,000.
There were no other impairments identified or recorded for the year ended December 31, 2024.

Estimated amortization expense for years of useful life remaining is as follows: double check future amortization.

Schedule of Estimated Amortization Expense

| Years ending December 31, |     | Amount |            |
|:--------------------------|:----|:-------|-----------:|
| 2025                      |     | $      |  4,471,467 |
| 2026                      |     |        |  2,396,467 |
| 2027                      |     |        |  1,280,623 |
| 2028                      |     |        |    712,208 |
| 2029                      |     |        |    643,941 |
| Thereafter                |     |        |  3,064,460 |
| Total                     |     | $      | 12,569,165 |

The Company had software development costs of $ 476,850related to projects not placed in service as of both December 31, 2024 and December 31, 2023, which is included in intangible assets in the Company’s consolidated balance sheets. Amortization will be calculated using the straight-line method over the appropriate estimated useful life when the assets are put into service.

| F-20 |

Note 9. Notes Payable and Convertible Debt

Secured Convertible Note

In connection with the Lottery.com domain purchase, the Company issued a secured convertible promissory note (“Secured Convertible Note”) with a fair value of $ 935,000that matured in March 2021. The Company used the fair value of the Secured Convertible Note to value the debt instrument issued. In March 2021, the Secured Convertible Note was fully converted into 69,910share of the Company’s common stock. (