Company: LTRYW
Filing Date: 2025-05-14
Form Type: S-1/A
Source: 0001641172-25-010091
Chunk: 126

Company: Lottery.com Inc.
Filing Date: 2025-05-14
Form: S-1/A
Chunk 126
---
 December 31, 2024. The increase was due primarily due to increases in base compensation and related payroll taxes for the Company’s three officers approved by the Compensation Committee of our Board of Directors for 2024.

Professional Fees.Professional fees decreased by $218,000, or (4%) from $5.65 million for the year ended December 31, 2023 to $5.44 million for the year ended December 31, 2024. Utilization of contract attorneys and accountants was lower in 2024 than it was in 2023 when the company was under significant pressure to file amended and delinquent 10-K’s and 10-Q’s in order to regain compliance with SEC reporting requirements and Nasdaq listing rules.

General and Administrative.General and administrative expenses of $3.7 million for the year ended December 31, 2024 are $198,000, (5%) lower than the $3.88 million reported for the year ended December 31, 2023. Marketing expenses and expenses for software services lower for the year ended December 31, 2024 than for the year ended December 31, 2023.

Depreciation and Amortization.Depreciation and amortization increased $129 thousand, or (3%), from $4.9 million for the year ended December 31, 2023 to $5.0 million for the year ended December 31, 2024. Part of the increase was due to amortization of new intangible assets resulting from the SM&I Ltd acquisition in September of 2024 and the rest was the result of revised amortization expenses over remaining useful lives after recognizing impairments at the end of the three months ended September 30, 2024.

Other Expense, Net

|                                                 |     | For the Year Ended December 31, |       2024 |     |     |      2023 |     |     |   $ Change |   |     |     | % Change |   |
|:------------------------------------------------|:----|:--------------------------------|-----------:|:----|:----|----------:|:----|:----|-----------:|:--|:----|:----|---------:|:--|
| Other expenses                                  |     |                                 |            |     |     |           |     |     |            |   |     |     |          |   |
| Interest expense                                |     |                                 |    508,563 |     |     |