Company: LTRYW
Filing Date: 2025-04-21
Form Type: 10-K
Source: 0001641172-25-005487
Chunk: 129

Company: Lottery.com Inc.
Filing Date: 2025-04-21
Form: 10-K
Item: Item 8
Chunk 129
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 to translate the balances.

The net purchase price was allocated to
the assets and liabilities acquired as per the table below. Goodwill represents the future economic benefits arising from other assets
acquired that could not be individually identified and separately recognized. The fair values of the acquired intangible assets were determined
using the valuation analysis performed by a third-party valuation firm.

The
total purchase price of $1,000,000consists of 333,333shares of common stock at $3.00per share. The total consideration transferred after net assets
and assumption of long-term debt was approximately $440,000, reflecting the purchase price, net of cash on hand at S& MI Ltd and the
principal amount of certain loans assumed by the Company. The purchase price is for a 100%
ownership interest. The purchase price was allocated to the identified tangible and intangible assets acquired based on their estimated
fair values at the acquisition date as follows:

Schedule
of Identified Tangible and Intangible Asset Acquired

  Accounts receivable, net                      124,928  
  Other Receivables                              50,817  
  Intangible assets                             234,000  
  Goodwill                                    1,315,000  
  Total assets                                1,724,745  
  Accounts payable and other liabilities       (175,543  
  Director’s Loan                              (558,632  
  Total liabilities                            (734,175  
  Total net assets of Acquirees                 990,570  

Note
4. Property and Equipment, net

Property
and equipment, net as of December 31, 2024 and 2023, consisted of the following:

Schedule
of Property and Equipment

                                   December 31,                      December 31,                  
                                   2024                              2023                          
 ───────────────────────────────────────────────────────────────────────────────────────────────────
  Computers and equipment          $                    123,911      $                    124,199  
  Furniture and fixtures                                 16,900                            16,898  
  Software                                            2,026,200                         2,026,200  
  Property and equipment                              2,167,011                         2,167,297  
  Accumulated depreciation                           (2,154,887                        (2,145,988  
  Property and equipment, net      $                     12,124      $                     21,309  

Depreciation
expense for the years ended December 31, 2024 and 202