Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 301

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 301
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 Depreciation and amortization 
     1,074,132  
     1,330,746  
     (256,614) 
     -19%
  
    Total Operating Expenses 
     3,976,541  
     6,101,122  
     (2,124,581) 
     -35%
  
    Loss from operations 
     (3,947,512) 
     (5,889,694) 
     1,942,182  
     -33%

Operating expenses for the three
months ended June 30, 2025 were $3.9 million, a decrease of $2.1 million, or 35%, compared to $6.1 million for the three months ended
June 30, 2024. The decrease was primarily driven by a decrease of $1.4 million in personnel costs accompanied by decreases in professional
fees $205,000, along with decreases in general and administrative expenses by $312,000 and depreciation and amortization by $257,000.
Reasons for these decreases are described below.

Personnel Costs. Personnel
costs were $439,000 for the three months ended June 30, 2025, a decrease of $1.4 million from $1.8 million for the three months ended
June 30, 2024. The decrease is because expenses recorded in the three months ended June 30, 2024 for shares of common stock and related
payroll taxes granted to officers for retention and their contributions to the turnaround and accrual of wages related to the TinBu subsidiary
did not reoccur during the three months ended June 30, 2025.

Professional
Fees. Professional fees decreased by $205,000 or 13%, from $1.5 million for the three months ended June 30, 2024 to $1.3 million
for the three months ended June 30, 2025. The increase was due to expenses incurred for outside attorneys, other consultants, and directors
in the three months ended June 30, 2025. Activity levels for the business, and these types of expense were lower for the same period
in 2024.

12

General
and Administrative. General and administrative expenses were $1.1 million, for the three months ended June 30, 2025, a decrease of
$312,000 or 22% from