Company: LTRYW
Filing Date: 2025-11-20
Form Type: 10-Q
Source: 0001493152-25-024384
Chunk: 212

Company: Lottery.com Inc.
Filing Date: 2025-11-20
Form: 10-Q
Item: Part II, Item 8
Chunk 212
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 trade names and trademarks and $311,500
to technology acquired from Global Gaming. The total impairment charges to intangible assets for the year ended December 31, 2023
were $798,800.

Similarly,
the Company performed an impairment analysis for the three months ended September 30, 2024 and as a result of that analysis it was determined
that impairment charges were necessary. Impairments of goodwill for $1.6 million against Tinbu’s goodwill and $1.9 million against
Global Gaming’s goodwill were recorded and $817,000 against intangibles of Global Gaming was recorded. This consisted of impairments
against Trade Names & Technology in the amount of $547,000, Technology in the amount of $119,000, and Customer Relationships 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 
    $1,345,969 
  
    2026 
     2,864,430 
  
    2027 
     1,665,907 
  
    2028 
     1,329,691 
  
    2029 
     1,310,608 
  
    Thereafter 
     21,591,831 
  
    Total 
    $30,108,436 

The
Company had software development costs of $476,800
related to projects not placed in service as of both September 30, 2025 and December 31, 2024, which is included in intangible
assets in the Company’s consolidated balance sheets. There is an additional $21.5 million in Technology acquired in connection
with acquisitions of subsidiaries that have not yet been placed in service and accordingly have not been amortized during the three
months ended September 30, 2025. Amortization will be calculated using the straight-line method over the appropriate estimated
useful life when the assets are put into service.

     F-17 

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,