Company: LTRYW
Filing Date: 2025-04-22
Form Type: 10-K/A
Source: 0001641172-25-005663
Chunk: 166

Company: Lottery.com Inc.
Filing Date: 2025-04-22
Form: 10-K/A
Chunk 166
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 it was determined that impairment charges were
necessary. Impairments of goodwill for $1.6 million against Tinbu’s goodwill and $1.9 million against Global Gaming’s goodwill
were recorded and $817,000 against intangibles
of Global Gaming was recorded. This consisted of impairments against Trade Names & Technology in the amount of $547,000,
Technology in the amount of $119,000,
and Customer Relationships in the amount of $150,000.
There were no other impairments identified or recorded for the year ended December 31, 2024.

Estimated amortization expense for years of useful life remaining is as follows: double check future amortization.

Schedule of Estimated Amortization Expense

| Years ending December 31, |     | Amount |            |
|:--------------------------|:----|:-------|-----------:|
| 2025                      |     | $      |  4,471,467 |
| 2026                      |     |        |  2,396,467 |
| 2027                      |     |        |  1,280,623 |
| 2028                      |     |        |    712,208 |
| 2029                      |     |        |    643,941 |
| Thereafter                |     |        |  3,064,460 |
| Total                     |     | $      | 12,569,165 |

The Company had software development costs of $ 476,850related to projects not placed in service as of both December 31, 2024 and December 31, 2023, which is included in intangible assets in the Company’s consolidated balance sheets. Amortization will be calculated using the straight-line method over the appropriate estimated useful life when the assets are put into service.

| F-20 |

Note 9. Notes Payable and Convertible Debt

Secured Convertible Note

In connection with the Lottery.com domain purchase, the Company issued a secured convertible promissory note (“Secured Convertible Note”) with a fair value of $ 935,000that matured in March 2021. The Company used the fair value of the Secured Convertible Note to value the debt instrument issued. In March 2021, the Secured Convertible Note was fully converted into 69,910share of the Company’s common stock. (see Note 11).

Series A Notes

From August to October 2017, the Company entered into seven Convert