Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 30

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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,687,417  
     6,935,000  
     (2,016,417) 
     4,832,565 

    $35,905,923  
    $(25,875,668) 
    $11,117,755  
    $35,905,923  
    $(23,727,540) 
    $12,569,165 

Amortization
expense with respect to intangible assets for the three months ended June 30, 2025 and 2024 totaled $1,073,190 and $1,327,914, respectively,
and for the six months ended June 30, 2025 and 2024 totaled $2,098,298 and $2,610,050, respectively, which is included in depreciation
and amortization in the Statements of Operations. The Company determined that there was an impairment of long-lived assets of $412,450
during the year ended December 31, 2022, which relates to a project no longer being pursued by the Company. In connection with the annual
review of goodwill and intangibles for the year ended December 31, 2023, the Company determined that it was necessary to write down goodwill
by $5,650,000 for TinBu and $1,060,200 for Global Gaming. The total impairment charges related to goodwill were $6,710,200 for the year
ended December 31, 2023. It was also determined that there was impairment of certain intangible assets related to Global Gaming. As a
result, for the year ended December 31, 2023 the Company recorded impairment charges of $488,300 to trade names and trademarks and $311,500
to technology acquired from Global Gaming. The total impairment charges to intangible assets for the year ended December 31, 2023 were
$798,800.

Similarly, the Company performed an impairment analysis for the three months ended September 30, 2024 and as a result
of that analysis 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