Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 306

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 306
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June 30, 2025. The decrease is because expenses recorded in the six months ended June 30, 2024 for shares of common stock and related
payroll taxes granted to officers for retention and their contributions to the turnaround and accrual of wages related to the TinBu subsidiary
did not reoccur during the six months ended June 30, 2025.

Professional
Fees. Professional fees decreased by $1.1 million, or 32%, from $3.6 million for the six months ended June 30, 2024 to $2.4 million
for the six months ended June 30, 2025. The increase was due to expenses incurred for outside attorneys, other consultants, and directors
in the six months ended June 30, 2025.

14

General
and Administrative. General and administrative expenses decreased $1.0 milliion, or 36%, from $2.9 for the six months ended June
30, 2024 to $1.9 milliion for the six months ended June 30, 2025. A primary driver of the reduction is lower accrual for franchise taxes
in the six months ended June 30, 2025 than the six months ended June 30, 2024.

Depreciation
and Amortization. Depreciation and amortization decreased $515,000 or 20%, from $2.62 million for the three months ended June 30,
2024 to $2.1 million for the six months ended June 30, 2025. The decrease was primarily driven by write-offs to intangible assets related to Global Gaming in 2023 and 2024 resulting in a decrease
of approximately $225,000 for the six months ended June 30, 2025, a decrease of approximately $139,000 because Tinbu intangibles became
fully amortized in the summer of 2024, and a decrease of approximately $146,000 related to other intangible assets becoming fully amortized
at the end of 2024.

Other
(Income) Expense, Net.

    For the six months Ended June 30,  

    2025  
    2024  
    $ Change  
    % Change 

    Other expenses 

    Interest expense 
     (60,119) 
     224,031  
     (284,150) 
     -127%