Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 302

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 302
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 $1.4 million for the three months ended June 30, 2024. A primary driver of the reduction is lower accrual for franchise
taxes in the three months ended June 30, 2025 than the three months ended June 30, 2024.

Depreciation and Amortization.
Depreciation and amortization decreased $257,000, or 19%, from $1.33 million for the three months ended June 30, 2024 to $1.07 million
for the three months ended June 30, 2025. The decrease was primarily driven by write-offs to intangible assets related to Global Gaming
in 2023 and 2024 resulting in a decrease of approximately $112,000 for the three months ended June 30, 2025, a decrease of approximately
$99,000 because Tinbu intangibles became fully amortized in the summer of 2024, and a decrease of approximately $46,000 related to other
intangible assets becoming fully amortized at the end of 2024.

Other
(Income) Expense, Net.

    For the three months Ended June 30,  

    2025  
    2024  
    $ Change  
    % Change 

    Other expenses 

    Interest expense 
     64,422  
     121,814  
     (57,392) 
     -47%
  
    Other (income) expense 
     (24,033) 
     (43,992) 
     19,959  
     -45%
  
    Total other expenses, net 
     40,389  
     77,822  
     (37,433) 
     -48%

Interest Expense. Interest
expense for the three months ended June 30, 2025 was $64,000 vs interest expense of $122,000 for the three months ended June 30, 2024,
a decrease of $57,000 or 47%. Interest expense relates to notes payable from the time of the business combination plus interest on more
recent convertible notes from Woodford, UCIL, and Univest. Interest accrual for convertible debt was lower for the three months ended
June 30, 2025 due to lower balances for convertible debt as a result of conversions to equity.

Other
(Income) Expense. Other (Income) for the three months ended