Company: LTRYW
Filing Date: 2025-04-21
Form Type: 10-K
Source: 0001641172-25-005487
Chunk: 133

Company: Lottery.com Inc.
Filing Date: 2025-04-21
Form: 10-K
Item: Item 8
Chunk 133
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011,329 The
Company determined that there was an impairment of long-lived assets of $412,450 during the year ended December 31, 2022, which relates
to a project no longer being pursued by the Company. In connection with the annual review of goodwill and intangibles, the Company determined
that it was necessary to write down goodwill by $5,650,000 for TinBu and $1,060,200 for Global Gaming. The total impairment charges related
to goodwill were $6,710,200 for the year ended December 31, 2023. It was also determined that there was impairment of certain intangible
assets related to Global Gaming. As a result, the Company recorded impairment charges of $488,300 to trade names and trademarks and $311,500
to technology acquired from Global Gaming. The total impairment charges to intangible assets for the year ended December 31, 2023 were
$799,800.

Similarly, the company 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 $1.6 million against Tinbu’s goodwill and $1.9 million against Global Gaming’s goodwill
were recorded and $817,000 against 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      $            4,569,855  
                       2026                   2,494,855  
                       2027                   1,302,717  
                       2028                     678,075  
                       2029                     643,941  
                 Thereafter                   2,943,176  
                      Total      $           12,632,260  

The
Company had software development costs of $476,850 related to projects not placed in service as of both December 31, 2024 and December
31, 2023