Company: LTRYW
Filing Date: 2025-11-20
Form Type: 10-Q
Source: 0001493152-25-024384
Chunk: 116

Company: Lottery.com Inc.
Filing Date: 2025-11-20
Form: 10-Q
Item: Part I, Item 8
Chunk 116
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”),
wherein the Purchase Price was the total equivalent of One Million Dollars USD ($1,000,000.00)
in restricted stock units of common shares in the Company (the “Payment-In-Kind”) fixed at Thirty Dollars USD ($30.00)
per share (the “Fixed Price”).

The
opening balance of S&MI Ltd has been included in our consolidated balance sheet since the date of the acquisition. Since the S&MI
Ltd.’s financial statements were denominated in British Pounds, the exchange rate of 1.3141 pounds per dollar was used to translate
the balances.

The
net purchase price was allocated to the assets and liabilities acquired as per the table below. Goodwill represents the future economic
benefits arising from other assets acquired that could not be individually identified and separately recognized. The fair values of the
acquired intangible assets were determined using the valuation analysis performed by a third-party valuation firm.

The
total purchase price of $1,000,000 consists of 33,333 shares of common stock at $30.00 per share. The total consideration transferred
after net assets and assumption of long-term debt was approximately $440,000, reflecting the purchase price, net of cash on hand at S&MI
Ltd and the principal amount of certain loans assumed by the Company. The purchase price is for a 100% ownership interest. The purchase
price was allocated to the identified tangible and intangible assets acquired based on their estimated fair values at the acquisition
date as follows:

  Schedule of Identified Tangible and Intangible Asset Acquired

    Accounts receivable, net 
     124,928 
  
    Other Receivables 
     50,817 
  
    Intangible assets 
     234,000 
  
    Goodwill 
     1,315,000 
  
    Total assets 
    $1,724,745 

    Accounts payable and other liabilities 
    $(175,543)
  
    Director’s Loan 
     (558,632)
  
    Total liabilities 
    $(734,175)

    Total net assets of Acquiree 
    $990,570 

     F-15 

Spektrum
Ltd Acquisition

The
Company completed the acquisition of Spektrum Ltd from PlusEvo Ltd through a signed Share Purchase Agreement (SPA) on March 13, 2025.
This acquisition, valued at $1.5 million in common stock at $30 per