Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 116

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 116
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000 
  
    Trade names and trademarks 
     2,540,000 
  
    Technology 
     1,620,000 

    Total Intangibles 
    $8,590,000 

S&MI Ltd Acquisition

On September 1, 2024, the
Company finalized an agreement for the acquisition of S&MI, Ltd. (the “Share Purchase and Sale Agreement”), wherein
the Purchase Price was the total equivalent of One Million Dollars USD ($1,000,000.00) in restricted stock units of common shares in
the Company (the “Payment-In-Kind”) fixed at Three Dollars USD ($3.00) per share (the “Fixed Price”). The
Purchase Price is to be paid out over five payments on the following schedule: The first payment of $150,000 in restricted
common stock (50,000 shares) of the Company is due and payable on September 1, 2024 (the “Completion Date” the
“First Issuance Date”). The remaining payments in restricted common stock to the shareholders of S&MI Ltd. by the
Company will be made as follows: (i) a second payment of $212,500 (70,833 shares) due on or before the 31st day following
ninety days after the Completion Date (the Second Issuance Date”); (ii) a third payment, of $212,500 (70,833 shares) due on or
before the 31st day following ninety days after the Second Issuance Date (the Third Issuance Date”); (iii) a fourth
payment of $212,500 (70,833 shares) due on or before the 31st day following ninety days after the Third Issuance Date
(the “Fourth Issuance Date”); and (vi) a fifth and final payment of $212,500 (70,834 shares) due on or before the
31st day following ninety days after the Fourth Issuance Date.

In the event that the closing price of
the restricted stock units of common shares of the Company to be issued to the shareholders of S&MI, Ltd. is lower than the Fixed
Purchase Price on the six (6) month anniversary of any issuance date of said shares (collectively the “Anniversary Issuance Price”),
then the Fixed Purchase Price shall be adjusted downward to the volume-weighted average price (“VWAP”) of the common stock
for the five