Company: LTRYW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011865
Chunk: 55

Company: Lottery.com Inc.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 2
Chunk 55
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 Ended                                                           
                          March                                                                            
                          31,                                                                              
                          2025                                                                             
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────
  Operating                                                                                                
  Personnel                                              686,637         984,679        (298,042      -30  
  Professional                                         1,089,207       2,018,955        (929,748      -46  
  General                                                738,693       1,481,745        (743,052      -50  
  Depreciation                                         1,026,826       1,284,982        (258,156      -20  
  Total                                                3,541,363       5,770,361      (2,228,998      -39  
  Loss                                                (3,479,022      (5,594,829      (2,114,847      -38  

Operating
expenses for the three months ended March 31, 2025 were $3.54 million, a decrease of $2.3 million, or (39%), compared to $5.77 million
for the three months ended March 31, 2024. The decrease was primarily driven by decreases of $969,000 in professional fees and $704,000
in general and administrative expenses accompanied by decreases of $298,000 in personnel costs and $258,000 in depreciation and amortization
Reasons for these decreases are described below.

Personnel
Costs

Professional
Fees

  12  

General
and Administrative

Depreciation
and Amortization.

Other (Income)
Expense, Net.

                           For                                                                        
                           the three months Ended                                                     
                           March                                                                      
                           31,                                                                        
                           2025                                                                       
 ──────────────────────────────────────────────────────────────────────────────────────────────────────
  Other                                                                                               
  Interest                                             (124,541      102,217      (226,758      -222  
  Other                                                 (64,571       52,676      (117,247      -223  
  Total                                                (189,112      154,893      (344,005      -222  

Interest
Expense (Income). During the three months ended March 31, 2025, the Company recorded an accrual for interest income on the $2 million
note receivable which was offset by interest expense on notes payable and convertible notes. As a result, there was net interest income
of