Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 117

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 117
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 (5) consecutive trading days immediately preceding the six (6) month anniversary date of said issuance date. Accordingly,
the Company shall be obligated to tender to the shareholders of S&MI, Ltd. additional restricted common shares of the Company to make
up the difference between the Fixed Purchase Price and the Anniversary Issuance Price.

The opening balance of S&MI Ltd has
been included in our consolidated balance sheet since the date of the acquisition. Since the S&MI Ltd’s financial statements
were denominated in British Pounds, the exchange rate of 1.3141 pounds 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 the valuation analysis performed by a third-party valuation firm.

The total purchase price of $1,000,000 consists of 333,333 shares of common stock at $3.00 per share. The total consideration
transferred after net assets and assumption of long-term debt was approximately $440,000, reflecting the purchase price, net of cash on
hand at S&MI Ltd and the principal amount of certain loans assumed by the Company. The purchase price is for a 100% ownership interest.
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

    Accounts receivable, net 
     124,928 
  
    Other Receivables 
     50,817 
  
    Intangible assets 
     234,000 
  
    Goodwill 
     1,315,000 
  
    Total assets 
    $1,724,745 

    Accounts payable and other liabilities 
    $(175,543)
  
    Director’s Loan 
     (558,632)
  
    Total liabilities 
    $(734,175)

    Total net assets of Acquiree 
    $990,570 

     F-15 

Note
4. Property and Equipment, net

Property
and equipment, net as of June 30, 2025 and December 31, 2024, consisted of the following:

Schedule of Property and Equipment 

    June 30, 2025  
    December