Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 258

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part II, Item 8
Chunk 258
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30, 2025 were $7.5 million, a decrease of $4.4 million, or 37%, compared to $11.9 million for the six months ended June
30, 2024. The decrease was primarily driven by a decrease of $1.6 million in personnel costs accompanied by an decreases in professional
fees of $1.1million, a decrease in general and administrative expenses of $1.05 million and a decrease in depreciation and amortization
by $515,000. Reasons for these decreases are described below.

Personnel Costs. Personnel
costs decreased by $1.6 million or 59% from $2.8 million for the six months ended June 30, 2024, to $1.1 million for the six months ended
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