Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 253

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part II, Item 8
Chunk 253
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 2025.

11

Operating
Costs and Expenses.

    For the three months Ended June 30,  

    2025  
    2024  
    $ Change  
    % Change 

    Operating expenses: 

    Personnel costs 
     438,966  
     1,789,986  
     (1,225,603) 
     -75%
  
    Professional fees 
     1,339,869  
     1,545,083  
     (205,214) 
     -13%
  
    General and administrative 
     1,123,574  
     1,435,307  
     (311,733) 
     -22%
  
    Depreciation and amortization 
     1,074,132  
     1,330,746  
     (256,614) 
     -19%
  
    Total Operating Expenses 
     3,976,541  
     6,101,122  
     (2,124,581) 
     -35%
  
    Loss from operations 
     (3,947,512) 
     (5,889,694) 
     1,942,182  
     -33%

Operating expenses for the three
months ended June 30, 2025 were $3.9 million, a decrease of $2.1 million, or 35%, compared to $6.1 million for the three months ended
June 30, 2024. The decrease was primarily driven by a decrease of $1.4 million in personnel costs accompanied by decreases in professional
fees $205,000, along with decreases in general and administrative expenses by $312,000 and depreciation and amortization by $257,000.
Reasons for these decreases are described below.

Personnel Costs. Personnel
costs were $439,000 for the three months ended June 30, 2025, a decrease of $1.4 million from $1.8 million for the three months ended
June 30, 2024. The decrease is because expenses recorded in the three 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