Company: LTRYW
Filing Date: 2025-10-15
Form Type: 10-Q/A
Source: 0001493152-25-018121
Chunk: 24

Company: Lottery.com Inc.
Filing Date: 2025-10-15
Form: 10-Q/A
Chunk 24
---
 the licensed Lottery market in Mexico since 2007 and is licensed to sell Mexican National Lottery draw games,
instant win tickets, and other games of chance online with access to a federally approved online casino and sportsbook gaming license
and additionally issues a proprietary scratch lottery game in Mexico under the brand name Capalli. The opening balance of the acquirees
have been included in our consolidated balance sheet since the date of the acquisition. Since the acquirees’ financial statements
were denominated in Mexican pesos, the exchange rate of 22.0848 pesos 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
Level 3 inputs which were not observable in the market.

| F-14 |

The total purchase price of $10,989,691,
consisting of cash of $10,530,000 and 687,439 shares of common stock of AutoLotto at $0.67 per share. The total consideration transferred
was approximately $10,055,214, reflecting the purchase price, net of cash on hand at Global Gaming and the principal amount of certain
loans acquired. The purchase price is for an 80% ownership interest and is therefore grossed up to $13,215,843 to reflect the 20% minority
interest in the acquirees. 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

| Cash                                   |     | $ |    517,460 |   |
| Accounts receivable, net               |     |   |     34,134 |   |
| Accounts receivable - Other            |     |   |            |   |
| VAT (net)                              |     |   |            |   |
| Prepaids                               |     |   |      5,024 |   |
| Property and equipment, net            |     |   |      2,440 |   |
| Other assets, net                      |     |   |     65,350 |   |
| Intangible assets                      |     |   |  8,590,000 |   |
| Goodwill                               |     |   |  4,940,643 |