Company: LTRYW
Filing Date: 2025-11-20
Form Type: 10-Q
Source: 0001493152-25-024384
Chunk: 76

Company: Lottery.com Inc.
Filing Date: 2025-11-20
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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 3,281,090  
     3,823,641  
     (542,551) 
     -14%
  
    Total operating expenses 
     12,006,685  
     15,645,987  
     (3,639,302) 
     -23%
  
    Loss from operations 
     (12,983,464) 
    $(15,144,689) 
     (3,161,225) 
     -21%

Operating
expenses for the nine months ended September 30, 2025 were $12.0 million, a decrease of $3.6 million, or 23%, compared to $15.6 million
for the nine months ended September 30, 2024. The decrease was primarily driven by a decrease of $2.0 million in Personnel costs accompanied
by decreases in: Professional fees of $891,000, General and administrative expenses of $237,000, Depreciation
and amortization by $543,000. Reasons for these decreases are described below.

Personnel
Costs. Personnel costs decreased by $2.0 million or 57% from $3.4 million for the nine months ended September 30, 2024, to $1.5
million for the nine months ended September 30, 2025. The decrease is because there were changes in the composition of the team for
the parent company and Tinbu subsidiary in 2025 and also expenses recorded in the nine months ended September 30, 2024 for shares of
common stock and related payroll taxes granted to officers for retention and their contributions to the turnaround did not reoccur during the nine months ended September 30, 2025.

Professional
Fees. Professional fees decreased by $891,000, or 19%, from $4.8 million for the nine months ended September 30, 2024 to $3.9 million
for the nine months ended September 30, 2025. Although there were increases in expenses for outside attorneys during the three months ended September 30, 2025, Legal fees for the first half of 2025 were lower than in the first half of 2024 and expenses for shares of common
stock granted to consultants in the first half of 2024 for retention and compensation related to the turnaround did not reoccur in 2025.

 14 

General
and Administrative. General