Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 42

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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 no liabilities recorded for these agreements as of June 30, 2025
and December 31, 2024.

Digital
Securities

In
2018, the Company commenced an offering and issuance (the “LDC Offering”) of 285
million revenue participation interests (the “Digital Securities”) of the net raffle revenue of LDC Crypto Universal
Public Company Limited (“LDC”). The Digital Securities do not have any voting rights, redemption rights, or liquidation
rights, nor are they tied in any way to other equity securities of LDC or the Company nor do they otherwise hold any rights that a
holder of equity securities of LDC or the Company may have or that a holder of traditional equity securities or capital stock may
have. Rather, each of the holders of the Digital Securities has a pro rata right to receive 7%
of the net raffle revenue. If the net raffle revenue is zero for a given period, holders of the Digital Securities are not eligible
to receive any cash distributions from any raffle sweepstakes of LDC for such period. For the years ended December 31, 2024,
December 31, 2023, and December 31, 2022, the Company did not incur any obligations to the holders of the outstanding Digital
Securities. For the year ended December 31, 2021, the Company incurred an obligation to pay an aggregate amount of approximately
$5,632
to holders of the outstanding Digital Securities. The Company did not satisfy those obligations during the three months ended
June 30, 2025 or the years ended December 31, 2024, 2023, 2022, or 2021.

     F-24 

Leases

The Company leased office space in
Spicewood, Texas which expired January
31, 2024 and had continued to utilize that facility on a month-to-month basis with monthly rent of $1,669 per
month until August 31, 2024. On September 1, 2024, the Company moved its headquarters to Fort Worth, Texas under a membership
agreement with monthly cost of $154.
Additionally, the Company had leased retail space in Waco, Texas which expired on December 31, 2024 with monthly rent of $2,434.
The space in Waco Texas was retained on a month to month basis until April 30, 2025. The Company also leases a campus in Boca