Company: LTRYW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011865
Chunk: 19

Company: Lottery.com Inc.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 1
Chunk 19
---
 (12,512,500       1,870,000      14,450,000      (11,545,000       2,905,000  
  Gaming                  6                4,020,000       (2,512,500       1,507,500       4,020,000       (2,345,000       1,675,000  
  Internally              2                3,312,923       (1,539,297       2,254,426       3,316,923       (1,450,754       2,342,969  
  Domain                  15               6,935,000       (2,041,715       4,976,736       6,935,000       (2,016,417       4,832,565  
                                          37,405,923      (25,095,857      12,780,317      35,905,923      (23,727,540      12,569,165  

Amortization
expense with respect to intangible assets for the three months ended March 31, 2025 and 2024 totaled $1,026,826 and $1,284,982, 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, 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