Company: LTRYW
Filing Date: 2025-04-22
Form Type: 10-K/A
Source: 0001641172-25-005663
Chunk: 161

Company: Lottery.com Inc.
Filing Date: 2025-04-22
Form: 10-K/A
Chunk 161
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been included in our consolidated balance sheet since the date of the acquisition. Since the S&MI Ltd’s financial statements were denominated in British Pounds, the exchange rate of 1.3141 pounds per dollar was used to translate the balances.

The net purchase price was allocated to
the assets and liabilities acquired as per the table below. Goodwill represents the future economic benefits arising from other assets
acquired that could not be individually identified and separately recognized. The fair values of the acquired intangible assets were determined
using the valuation analysis performed by a third-party valuation firm.

The total purchase price of $ 1,000,000 consists of 333,333 shares of common stock at $ 3.00 per share. The total consideration transferred after net assets and assumption of long-term debt was approximately $ 440,000, reflecting the purchase price, net of cash on hand at S&MI Ltd and the principal amount of certain loans assumed by the Company. The purchase price is for a 100% ownership interest. The purchase price was allocated to 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               
 Other Receivables                      
 Intangible assets                      
 Goodwill                               
 Total assets                           
 Accounts payable and other liabilities 
 Director’s Loan                        
 Total liabilities                      |     |   |   124,928 
    50,817 
   234,000 
 1,315,000 
 1,724,745 
  (175,543 
  (558,632 
  (734,175 | ) 
 ) 
 ) |
|:---------------------------------------|:----|:--|----------:|:--|
| Total net assets of Acquirees          |     | $ |   990,570 |   |

Note 4. Property and Equipment, net

Property and equipment, net as of December 31, 2024 and 2023, consisted of the following:

Schedule of Property and Equipment

|                             |     | 2024 | December 31, |   |     | 2023 | December 31, |   |
|:----------------------------|:----|:-----|-------------:|:--|:----|:-----|-------------:|:--|
| Computers and equipment     |     | $    |      123,911 |   |     | $    |      124,199 |   |