Company: LTRYW
Filing Date: 2025-04-25
Form Type: S-1/A
Source: 0001641172-25-006093
Chunk: 213

Company: Lottery.com Inc.
Filing Date: 2025-04-25
Form: S-1/A
Chunk 213
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 of long-lived assets of $ 412,450during 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 $ 5,650,000for TinBu and $ 1,060,200for Global Gaming. The total impairment charges related to goodwill were $ 6,710,200for 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 $ 488,300to trade names and trademarks and $ 311,500to 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                      |     | $      |  4,471,467 |
| 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