Company: LTRYW
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001493152-25-002444
Chunk: 117

Company: Lottery.com Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 117
---
     |      |  1,301,830 |   |     |        |  (330,636 | ) |     |        | -23 | % |
| Depreciation       
 and amortization   |     |                      |   2,615,728 |   |     |      |  2,797,638 |   |     |        |  (181,910 | ) |     |        |  -6 | % |
| Total              
 operating expenses |     |                      |  11,871,483 |   |     |      |  8,515,147 |   |     |        | 3,356,336 |   |     |        |  39 | % |
| Loss               
 from operations    |     |                      | (11,484,523 | ) |     |    $ | (7,370,404 | ) |     |        | 4,114,119 |   |     |        |  56 | % |

Operating expenses for the six months ended June 30, 2024 were $11.9 million, an increase of $3.4 million, or 39%, compared to $8.5 million for the six months ended June 30, 2023. The increase was primarily driven by an increase of $3.7 million in professional fees accompanied by an increase in personnel costs by $211 thousand, partially offset by decreases in general and administrative expenses of $330 thousand and depreciation and amortization by $182 thousand. Reasons for these decreases are described below.

Personnel Costs. Personnel costs increased by $211 thousand from $2.6 million for the six months ended June 30, 2023, to $2.8 million for the six months ended June 30, 2024. The composition of the team is different for the six months ended June 30, 2024 than it was for the six months ended June 30, 2023. The increase was due to inclusion of compensation expense for the CEO and CFO for the six months ended June 30, 2024 where they were not in their roles for the six months ended June 30, 2023.

Professional Fees. Professional fees increased by $3.7 million, or 197%, from $1.9 million for the six months ended June 30, 2023 to $5.5 million for the six months ended June 30, 2024. The increase was due to