Company: LTRYW
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001493152-25-002444
Chunk: 194

Company: Lottery.com Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 194
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million of valuation allowance since the additional deferred tax liabilities represent a future source of taxable income”. This approach improperly accelerated the effects of future amortization of intangible assets related to Global Gaming, resulting in inappropriately releasing part of a valuation allowance for deferred taxes which is not in compliance with GAAP. At that time, the Company recorded an increase to goodwill for Global Gaming and an income tax benefit each in the amount of $ 1,653,067. We have reversed this transaction by reducing goodwill for Global Gaming by $ 1,653,067and have increased accumulated deficit to remove the income tax benefit which was incorrectly recorded for year ended December 31, 2021.

| F-16 |

Note 8. Intangible assets, net

Gross carrying values and accumulated amortization of intangible assets:

Schedule of Finite Lived Intangible Assets Amortization Expenses

|                               |     | June 30, 2024 |            |     |          |            |     |              |             |   |     |     |            |     | December 31, 2023 |            |     |              |             |   |     |     |            |
|:------------------------------|:----|:--------------|:-----------|:----|:---------|-----------:|:----|:-------------|:------------|:--|:----|:----|-----------:|:----|:------------------|-----------:|:----|:-------------|:------------|:--|:----|:----|-----------:|
|                               |     |               |            |     | Gross    |            |     |              |             |   |     |     |            |     | Gross             |            |     |              |             |   |     |     |            |
|                               |     | Useful        |            |     | Carrying |            |     | Accumulated  |             |   |     |     |            |     | Carrying          |            |     | Accumulated  |             |   |     |     |            |
|                               |     | Life          |            |     | Amount   |            |     | Amortization |             |   |     | Net |            |     | Amount            |            |     | Amortization |             |   |     | Net |            |
| Amortizing intangible assets  |     |               |            |     |          |            |     |              |             |   |     |     |            |