Company: LTRYW
Filing Date: 2025-10-15
Form Type: 10-Q/A
Source: 0001493152-25-018121
Chunk: 32

Company: Lottery.com Inc.
Filing Date: 2025-10-15
Form: 10-Q/A
Chunk 32
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 in the amount of $ 150,000. There were no other impairments identified or recorded for the year ended December 31, 2024.

Estimated amortization expense for years of useful life remaining is as
follows:

Schedule of Estimated Amortization Expense

| Years ending December 31, |     | Amount |            |
|:--------------------------|:----|:-------|-----------:|
| 2025                      |     | $      |  3,204,570 |
| 2026                      |     |        |  2,197,760 |
| 2027                      |     |        |  1,181,179 |
| 2028                      |     |        |    678,075 |
| 2029                      |     |        |    643,941 |
| Thereafter                |     |        |  4,874,507 |
| Total                     |     | $      | 12,780,032 |

The Company had software development
costs of $476,850
related to projects not placed in service as of both March 31, 2025 and December 31, 2024, which is included in intangible assets in
the Company’s consolidated balance sheets. Amortization will be calculated using the straight-line method over the appropriate
estimated useful life when the assets are put into service.

| F-18 |

Note 9. Notes Payable and Convertible Debt

Secured Convertible Note

In connection with the Lottery.com domain
purchase, the Company issued a secured convertible promissory note (“Secured Convertible Note”) with a fair value of $935,000
that matured in March 2021. The Company used the fair value of the Secured Convertible Note to value the debt instrument issued. In March
2021, the Secured Convertible Note was fully converted into 69,910 shares of the Company’s common stock.

Series A Notes

From August to October 2017, the
Company entered into seven Convertible Promissory Note Agreements with unaffiliated investors for an aggregate amount of $821,500.
The notes bear interest at 10%
per year, are unsecured, and were due and payable on June 30, 2019. The parties verbally agreed to extend the maturity of the notes
to December 31, 2021. The Company cannot prepay the loan without consent from the noteholders. As of December