Company: LTRYW
Filing Date: 2025-11-20
Form Type: 10-Q
Source: 0001493152-25-024384
Chunk: 207

Company: Lottery.com Inc.
Filing Date: 2025-11-20
Form: 10-Q
Item: Part II, Item 8
Chunk 207
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 Company must pay the Secured Notes to remove the encumbrances.

Galaxy
Racer Holdings Limited Asset Acquisition

The Company completed an asset acquisition from Galaxy Racer Holdings Limited [GXR] on August 1, 2025. Assets consisting of active users,
software applications, integrations, modules, and specifications for transfer by GXR to a new entity. Valuation for these assets is $10
million. The Company made an in-kind payment of $5.1 million of common stock for 51% of the new entity and transferred 49% of the equity
of the new entity to Galaxy Racer Holdings Limited.

Assets
acquired have been recorded as Intangible Assets in the Technology category and amortization is anticipated to begin in the fourth
quarter of 2025.

Schedule of Assets Acquired Record
as Intangible Assets 

    Global Gaming  
    DotCom Ventures Inc.  
    Galaxy Racer 
  
    Noncontrolling Interest June 30, 2025 
     (798,416) 
     -  
     - 
  
    Noncontrolling interest – acquisitions 
        
     4,900,000  
     4,900,000 
  
    Income/ (Loss) attributable to noncontrolling interest 
     (47,813) 
        
     (59,784)
  
    Noncontrolling Interest September 30, 2025 
    $745,882  
    $4,900,000  
    $4,840,216 

Note
4. Property and Equipment, net

Property
and equipment, net as of September 30, 2025 and December 31, 2024, consisted of the following:

Schedule of Property and Equipment 

    September 30, 2025  
    December 31, 2024 

    Computers and equipment 
    $115,038  
    $123,911 
  
    Furniture and fixtures 
     18,582  
     16,900 
  
    Software 
     2,026,200  
     2,026,200 
  
    Property and equipment 
     2,159,820  
     2,167,011 
  
    Accumulated depreciation 
     (2,157,989) 
     (2,154,887)
  
    Property and equipment, net 
    $1,831