Company: LTRYW
Filing Date: 2025-10-15
Form Type: 10-Q/A
Source: 0001493152-25-018121
Chunk: 31

Company: Lottery.com Inc.
Filing Date: 2025-10-15
Form: 10-Q/A
Chunk 31
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  4,886,451 |     |                   |  6,935,000 |     |              | (2,016,417  | ) |     |     |  4,832,565 |
|                               |     |                |     | $        | 37,405,923 |     | $            | (25,095,857 | ) |     | $   | 12,780,032 |     | $                 | 35,905,923 |     | $            | (23,727,540 | ) |     | $   | 12,569,165 |

Amortization expense with respect to intangible
assets for the three months ended March 31, 2025 and 2024 totaled $1,026,826 and $1,284,982,
respectively, which is included in depreciation and amortization in the Statements of Operations. 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, for the year ended December 31, 2023 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
$798,800.

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 $ 1.6million against Tinbu’s goodwill and $ 1.9million against Global Gaming’s goodwill and $ 817,000against intangibles of Global Gaming were 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