Company: LTRYW
Filing Date: 2025-04-22
Form Type: 10-K/A
Source: 0001641172-25-005663
Chunk: 180

Company: Lottery.com Inc.
Filing Date: 2025-04-22
Form: 10-K/A
Chunk 180
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 LDC or the Company nor do they otherwise hold any rights that a holder of equity securities of LDC or the Company may have or that a holder of traditional equity securities or capital stock may have. Rather, each of the holders of the Digital Securities has a pro rata right to receive 7% of the net raffle revenue. If the net raffle revenue is zero for a given period, holders of the Digital Securities are not eligible to receive any cash distributions from any raffle sweepstakes of LDC for such period. For the years ended December 31, 2024 and December 31, 2023, the company did not incur any obligations to the holders of the outstanding Digital Securities. For the year ended December 31, 2021, the Company incurred an obligation to pay an aggregate amount of approximately $ 5,632to holders of the outstanding Digital Securities. The Company did not satisfy any of those obligations during the years ended December 31, 2021, 2022, 2023,or 2024.

| F-28 |

The Company leased office space in Spicewood, Texas which expired January 31, 2024and had continued to utilize that facility on a month-to-month basis with monthly rent of $ 1,669per month until August 31, 2024. On September 1, 2024, the company moved its headquarters to Fort Worth, Texas under a membership agreement with monthly cost of $ 154. Additionally, the Company has leased retail space in Waco, TX which expires on December 31, 2024with monthly rent of $ 2,434. The Company also leases a campus in Boca Raton Florida for $ 25,000per month under a 12 month lease agreement that commenced on August 1, 2024 and continues thru July 31, 2025. For the three months ended September 30, 2024 and 2023 rent expense was $ 106,728and $ 12,309, respectively.

As of December 31, 2024, future minimum rent payments due under non-cancellable leases with initial are as follows:

Schedule of Future Minimum Rent Payments Due Under Non-Cancellable Leases

| Years               
 ending December 31, 
 2025                
 Thereafter          |     | Amount | 175,000 
       - |
|:--------------------|:----|:-------|--------:|
| Total               |     | $      | 175,000 |