Company: LTRYW
Filing Date: 2025-04-22
Form Type: 10-K/A
Source: 0001641172-25-005663
Chunk: 165

Company: Lottery.com Inc.
Filing Date: 2025-04-22
Form: 10-K/A
Chunk 165
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 |                          | (1,450,754  | ) |     |     |  2,342,969 |     |                       |  2,904,473 |     |                          | (737,053    | ) |     |     |  2,167,420 |
| Domain name                   |     | 15 years          |     |                       |  6,935,000 |     |                          | (2,016,417  | ) |     |     |  4,832,565 |     |                       |  6,935,000 |     |                          | (1,554,083  | ) |     |     |  5,380,917 |
|                               |     |                   |     | $                     | 35,905,923 |     | $                        | (23,727,540 | ) |     | $   | 12,569,165 |     | $                     | 35,259,473 |     | $                        | (17,577,599 | ) |     | $   | 17,681,874 |

Amortization expense with respect to intangible assets for the year ended December 31, 2024 and 2023 totaled $ 5,011,329and $ 5,550,882, 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 $ 412,450during 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 $ 5,650,000for TinBu and $ 1,060,200for Global Gaming. The total impairment charges related to goodwill were $ 6,710,200for 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, the Company recorded impairment charges of $ 488,300to trade names and trademarks and $ 311,500to technology acquired from Global Gaming. The total impairment charges to intangible assets for the year ended December 31, 2023 were $ 799,800.

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