Company: LTRYW
Filing Date: 2025-04-09
Form Type: 10-K/A
Source: 0001641172-25-003412
Chunk: 123

Company: Lottery.com Inc.
Filing Date: 2025-04-09
Form: 10-K/A
Chunk 123
---
 and realization of assets and classification of liabilities that might be necessary should we be unable to continue in operation. We will require additional capital to meet our long-term operating requirements. We expect to raise additional capital through, among other things, the sale of equity or debt securities.

Year Ended December 31, 2023 Compared to Year Ended December 31, 2022

The following table summarizes our results of operations for the years ended December 31, 2023 and December 31, 2022, respectively.

|                                                    |     | For the Year Ended December 31, |        2023 |   |     |   |        2022 |   |     |   |    $ Change |   |     |     | % Change |   |
|:---------------------------------------------------|:----|:--------------------------------|------------:|:--|:----|:--|------------:|:--|:----|:--|------------:|:--|:----|:----|---------:|:--|
| Revenue                                            |     | $                               |   7,018,819 |   |     | $ |   6,779,057 |   |     | $ |     239,762 |   |     |     |        4 | % |
| Cost of revenue                                    |     |                                 |   5,666,544 |   |     |   |   4,310,750 |   |     |   |   1,355,794 |   |     |     |       31 | % |
| Gross profit                                       |     | $                               |   1,352,275 |   |     | $ |   2,468,307 |   |     | $ |  (1,116,032 | ) |     |     |      -45 | % |
| Operating expenses:                                |     |                                 |             |   |     |   |             |   |     |   |             |   |     |     |          |   |
| Personnel costs                                    |     | $                               |   4,570,206 |   |     | $ |  37,114,485 |   |     | $ | (32,544,279 | ) |     |     |      -88 | % |
| Professional fees                                  |     |                                 |   6,766,709 |   |     |   |   6,613,546 |   |     |   |