Company: LTRYW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011865
Chunk: 31

Company: Lottery.com Inc.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 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 and December 31, 2023, 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 any of those obligations during the years ended December 31, 2021,
2022, 2023, or 2024.

  F-25  

Leases

The
Company had leased office space in Spicewood, Texas which expired January 31, 2024 and 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. Following the end of the lease, 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 Raton Florida for $25,000 per month under a 12 month lease
agreement that commenced on August 1, 2024 and continues thru July 31, 2025. For the three months ended March 31, 2025 and 2024 rent
expense was $87,121 and $29,309, respectively.

As
of December 31, 2024, future minimum rent payments due under non-cancellable leases with initial are as follows:

  Years