10-Q Filing

LOTTERY.COM INC. CIK: 1673481 Q2 2019

Filing Information

Form Type	10-Q
Accession Number	`0001213900-19-015802`
Period End Date	20190630
Filing Date	20190814
Fiscal Year	2019
Fiscal Period	Q2
XBRL Instance	tdacu-20190630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 46 Cash Flow Statement 59 Stockholders Equity 24

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Common stock subject to possible redemption	`StockRedeemedOrCalledDuringPeriodShares1`	19.24M	shares	Point-in-time
Common stock subject to possible redemption	`StockRedeemedOrCalledDuringPeriodShares1`	19.19M	shares	Point-in-time
Common stock (in dollars per shares)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock (in dollars per shares)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.26M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$351.23K	USD	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock issued	`CommonStockSharesIssued`	7.07M	shares	Point-in-time
Cash held in escrow	`EscrowDeposit`	$386.03K	USD	Point-in-time
Cash held in escrow	`EscrowDeposit`	$386.03K	USD	Point-in-time
Common stock issued	`CommonStockSharesIssued`	7.11M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	7.07M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$83.27K	USD	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	7.11M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$63.84K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$820.53K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.32M	USD	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$209.88M	USD	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$207.75M	USD	Point-in-time
Security deposit	`SecurityDeposit`	$1.20K	USD	Point-in-time
Security deposit	`SecurityDeposit`	$1.20K	USD	Point-in-time
Total Assets	`Assets`	$210.70M	USD	Point-in-time
Total Assets	`Assets`	$209.07M	USD	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$80.95K	USD	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$159.51K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$425.90K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$373.79K	USD	Point-in-time
Promissory note - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$425.00K	USD	Point-in-time
Promissory note - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$425.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$958.31K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$931.85K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilities`	$851.00	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilities`	$31.61K	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$5.03M	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$5.03M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.99M	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.99M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock subject to possible redemption, 19,193,198 and 19,235,623 shares at redemption value as of June 30, 2019 and December 31, 2018, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$199.71M	USD	Point-in-time
Common stock subject to possible redemption, 19,193,198 and 19,235,623 shares at redemption value as of June 30, 2019 and December 31, 2018, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$198.08M	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 7,113,052 and 7,070,627 issued and outstanding (excluding 19,193,198 and 19,235,623 shares subject to possible redemption) as of June 30, 2019 and December 31, 2018, respectively	`CommonStockValue`	$7.07K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 7,113,052 and 7,070,627 issued and outstanding (excluding 19,193,198 and 19,235,623 shares subject to possible redemption) as of June 30, 2019 and December 31, 2018, respectively	`CommonStockValue`	$7.11K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.59M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.40M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.02M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$26.57K	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$22.64K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$209.07M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$210.70M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Excludes an aggregate of shares subject to redemption	`ExcludesAggregateOfSharesSubjectToRedemption`	19.27M	shares	2 Qtrs
Operating costs	`CostsAndExpenses`	$539.70K	USD	2 Qtrs
Excludes an aggregate of shares subject to redemption	`ExcludesAggregateOfSharesSubjectToRedemption`	19.19M	shares	2 Qtrs
Operating costs	`CostsAndExpenses`	$160.13K	USD	2 Qtrs
Operating costs	`CostsAndExpenses`	$313.48K	USD	1 Quarter
Operating costs	`CostsAndExpenses`	$155.41K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-160.13K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-313.48K	USD	1 Quarter
Net loss per share - basic and diluted excludes income attributable to common stock subject to possible redemption	`NetLossPerShareBasicAndDilutedExcludesIncomeAttributableToCommonStockSubjectToPossibleRedemption`	194,672.00	shares	1 Quarter
Net loss per share - basic and diluted excludes income attributable to common stock subject to possible redemption	`NetLossPerShareBasicAndDilutedExcludesIncomeAttributableToCommonStockSubjectToPossibleRedemption`	1.98M	shares	2 Qtrs
Net loss per share - basic and diluted excludes income attributable to common stock subject to possible redemption	`NetLossPerShareBasicAndDilutedExcludesIncomeAttributableToCommonStockSubjectToPossibleRedemption`	1.06M	shares	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-539.70K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-155.41K	USD	1 Quarter
Net loss per share - basic and diluted excludes income attributable to common stock subject to possible redemption	`NetLossPerShareBasicAndDilutedExcludesIncomeAttributableToCommonStockSubjectToPossibleRedemption`	194,672.00	shares	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$286.47K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.25M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$286.47K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$2.48M	USD	2 Qtrs
Unrealized gain (loss) on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-8.41K	USD	2 Qtrs
Unrealized gain (loss) on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$150.50K	USD	2 Qtrs
Unrealized gain (loss) on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$134.34K	USD	1 Quarter
Unrealized gain (loss) on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-8.41K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$278.06K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$278.06K	USD	2 Qtrs
Other income, net	`NonoperatingIncomeExpense`	$2.63M	USD	2 Qtrs
Other income, net	`NonoperatingIncomeExpense`	$1.38M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$122.65K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$117.92K	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.09M	USD	2 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.07M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$24.76K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$24.76K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$468.89K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$241.60K	USD	1 Quarter
Net income	`NetIncomeLoss`	$1.62M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$93.16K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$827.48K	USD	1 Quarter
Net income	`NetIncomeLoss`	$97.89K	USD	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.08M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.08M	shares	2 Qtrs
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.19M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.45M	shares	2 Qtrs
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	2 Qtrs
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	2 Qtrs
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.62M	USD	2 Qtrs
Net income	`NetIncomeLoss`	$93.16K	USD	2 Qtrs
Net income	`NetIncomeLoss`	$827.48K	USD	1 Quarter
Net income	`NetIncomeLoss`	$97.89K	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$286.47K	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$1.25M	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$286.47K	USD	2 Qtrs
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$2.48M	USD	2 Qtrs
Unrealized (gain) loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-8.41K	USD	2 Qtrs
Unrealized (gain) loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$150.50K	USD	2 Qtrs
Unrealized (gain) loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$134.34K	USD	1 Quarter
Unrealized (gain) loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-8.41K	USD	1 Quarter
Deferred tax provision	`DeferredIncomeTaxExpenseBenefit`	$30.75K	USD	2 Qtrs
Deferred tax provision	`DeferredIncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$19.43K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$144.65K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$51.42K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-78.56K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$52.10K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$24.76K	USD	2 Qtrs
Net cash and cash held in escrow used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-253.36K	USD	2 Qtrs
Net cash and cash held in escrow used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.02M	USD	2 Qtrs
Investment of cash in Trust Account	`PaymentsToAcquireMarketableSecurities`	$205.28M	USD	2 Qtrs
Cash withdrawn from Trust Account to pay for income and franchise taxes	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	2 Qtrs
Cash withdrawn from Trust Account to pay for income and franchise taxes	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$505.15K	USD	2 Qtrs
Net cash and cash held in escrow provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-205.28M	USD	2 Qtrs
Net cash and cash held in escrow provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$505.15K	USD	2 Qtrs
Proceeds from issuance of common stock to initial stockholders	`ProceedsFromIssuanceOfCommonStockToInitialStockholders`	-	USD	2 Qtrs
Proceeds from issuance of common stock to initial stockholders	`ProceedsFromIssuanceOfCommonStockToInitialStockholders`	$-8.65K	USD	2 Qtrs
Proceeds from sale of Units, net of underwriting discounts paid	`ProceedsFromIssuanceOfCommonStock`	$196.22M	USD	2 Qtrs
Proceeds from sale of Units, net of underwriting discounts paid	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from sale of Private Units	`ProceedsFromIssuanceOfPrivatePlacement`	-	USD	2 Qtrs
Proceeds from sale of Private Units	`ProceedsFromIssuanceOfPrivatePlacement`	$11.50M	USD	2 Qtrs
Proceeds from promissory notes - related parties	`ProceedsOfPromissoryNoteRelatedPartyDebt`	-	USD	2 Qtrs
Proceeds from promissory notes - related parties	`ProceedsOfPromissoryNoteRelatedPartyDebt`	$-300.00K	USD	2 Qtrs
Repayment of promissory notes - related parties	`RepaymentsOfPromissoryNoteRelatedPartyDebt`	$400.00K	USD	2 Qtrs
Repayment of promissory notes - related parties	`RepaymentsOfPromissoryNoteRelatedPartyDebt`	-	USD	2 Qtrs
Payment of offering costs	`RepaymentsOfOfferingCosts`	-	USD	2 Qtrs
Payment of offering costs	`RepaymentsOfOfferingCosts`	$636.33K	USD	2 Qtrs
Net cash and cash held in escrow provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$206.99M	USD	2 Qtrs
Net cash and cash held in escrow provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net Change in Cash and Cash Held in Escrow	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.46M	USD	2 Qtrs
Net Change in Cash and Cash Held in Escrow	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-518.56K	USD	2 Qtrs
Cash and Cash Held in Escrow - Beginning	`Cash`	$737.26K	USD	Point-in-time
Cash and Cash Held in Escrow - Beginning	`Cash`	$1.26M	USD	Point-in-time
Cash and Cash Held in Escrow - Beginning	`Cash`	$1.61M	USD	Point-in-time
Cash and Cash Held in Escrow - Beginning	`Cash`	$143.40K	USD	Point-in-time
Cash and Cash Held in Escrow - Ending	`Cash`	$737.26K	USD	Point-in-time
Cash and Cash Held in Escrow - Ending	`Cash`	$1.26M	USD	Point-in-time
Cash and Cash Held in Escrow - Ending	`Cash`	$1.61M	USD	Point-in-time
Cash and Cash Held in Escrow - Ending	`Cash`	$143.40K	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	$386.03K	USD	2 Qtrs
Initial classification of common stock subject to redemption	`InitialClassificationOfCommonStockSubjectToRedemption`	-	USD	2 Qtrs
Initial classification of common stock subject to redemption	`InitialClassificationOfCommonStockSubjectToRedemption`	$196.67M	USD	2 Qtrs
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	$1.62M	USD	2 Qtrs
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	$97.97K	USD	2 Qtrs
Deferred underwriting fee charged to additional paid in capital	`DeferredUnderwritingFeeChargedToAdditionalPaidInCapital`	-	USD	2 Qtrs
Deferred underwriting fee charged to additional paid in capital	`DeferredUnderwritingFeeChargedToAdditionalPaidInCapital`	$5.03M	USD	2 Qtrs

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Number of units sold	`SaleOfUnits`	20.12M	shares	2 Qtrs
Sale of private units	`SaleOfPrivateUnits`	1.15M	shares	2 Qtrs
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$26.57K	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$22.64K	USD	Point-in-time
Common stock issued to initial stockholders	`StockIssuedDuringPeriodValueNewIssues`	$8.65K	USD	1 Quarter
Sale of 20,125,000 Units, net of underwriting discounts and offering expenses	`StockIssuedDuringPeriodValueOther`	$190.15M	USD	1 Quarter
Sale of 1,150,000 Private Units	`SaleOfStockConsiderationReceivedOnTransaction1`	$11.50M	USD	1 Quarter
Change in value of common stock subject to possible redemption	`StockIssuedDuringPeriodValueConversionOfUnits`	$-794.82K	USD	1 Quarter
Change in value of common stock subject to possible redemption	`StockIssuedDuringPeriodValueConversionOfUnits`	$-827.48K	USD	1 Quarter
Change in value of common stock subject to possible redemption	`StockIssuedDuringPeriodValueConversionOfUnits`	$-196.77M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$794.82K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-4.73K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$827.48K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$97.89K	USD	1 Quarter
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$26.57K	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$22.64K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.