10-Q Filing

LOTTERY.COM INC. CIK: 1673481 Q3 2019

Filing Information

Form Type	10-Q
Accession Number	`0001213900-19-023889`
Period End Date	20190930
Filing Date	20191118
Fiscal Year	2019
Fiscal Period	Q3
XBRL Instance	tdacu-20190930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 46 Cash Flow Statement 60 Stockholders Equity 30

Balance Sheet 59 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`	19.17M	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
Common stock authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.26M	USD	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$247.43K	USD	Point-in-time
Cash held in escrow	`EscrowDeposit`	$386.03K	USD	Point-in-time
Common stock issued	`CommonStockSharesIssued`	7.14M	shares	Point-in-time
Cash held in escrow	`EscrowDeposit`	$386.03K	USD	Point-in-time
Cash held in escrow	`EscrowDeposit`	-	USD	Point-in-time
Common stock issued	`CommonStockSharesIssued`	7.07M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	7.14M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	7.07M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$38.74K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$63.84K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$672.20K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.32M	USD	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$207.75M	USD	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$210.95M	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`	$209.07M	USD	Point-in-time
Total Assets	`Assets`	$211.62M	USD	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$159.51K	USD	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$104.47K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$429.63K	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`	$959.10K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilities`	$199.76K	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilities`	$851.00	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`	$6.19M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock subject to possible redemption, 19,167,779 and 19,235,623 shares at redemption value as of September 30, 2019 and December 31, 2018, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$198.08M	USD	Point-in-time
Common stock subject to possible redemption, 19,167,779 and 19,235,623 shares at redemption value as of September 30, 2019 and December 31, 2018, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$200.43M	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 7,138,471 and 7,070,627 issued and outstanding (excluding 19,167,779 and 19,235,623 shares subject to possible redemption) as of September 30, 2019 and December 31, 2018, respectively	`CommonStockValue`	$7.14K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 7,138,471 and 7,070,627 issued and outstanding (excluding 19,167,779 and 19,235,623 shares subject to possible redemption) as of September 30, 2019 and December 31, 2018, respectively	`CommonStockValue`	$7.07K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$3.59M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.25M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.40M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.75M	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`	$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 Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$211.62M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$209.07M	USD	Point-in-time

Income Statement 46 line items

Line Item	Tag	Value	Unit	Period
Excludes an aggregate of shares subject to redemption	`ExcludesAggregateOfSharesSubjectToRedemption`	19.17M	shares	3 Qtrs
Operating costs	`CostsAndExpenses`	$249.49K	USD	1 Quarter
Operating costs	`CostsAndExpenses`	$783.70K	USD	3 Qtrs
Excludes an aggregate of shares subject to redemption	`ExcludesAggregateOfSharesSubjectToRedemption`	19.26M	shares	3 Qtrs
Operating costs	`CostsAndExpenses`	$409.62K	USD	3 Qtrs
Operating costs	`CostsAndExpenses`	$244.00K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-244.00K	USD	1 Quarter
Net loss per share - basic and diluted excludes income attributable to common stock subject to possible redemption	`NetLossPerShareBasicAndDilutedExcludesIncomeAttributableToCommonStockSubjectToPossibleRedemption`	768,397.00	shares	1 Quarter
Net loss per share - basic and diluted excludes income attributable to common stock subject to possible redemption	`NetLossPerShareBasicAndDilutedExcludesIncomeAttributableToCommonStockSubjectToPossibleRedemption`	962,906.00	shares	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-409.62K	USD	3 Qtrs
Net loss per share - basic and diluted excludes income attributable to common stock subject to possible redemption	`NetLossPerShareBasicAndDilutedExcludesIncomeAttributableToCommonStockSubjectToPossibleRedemption`	873,692.00	shares	1 Quarter
Net loss per share - basic and diluted excludes income attributable to common stock subject to possible redemption	`NetLossPerShareBasicAndDilutedExcludesIncomeAttributableToCommonStockSubjectToPossibleRedemption`	2.85M	shares	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-783.70K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-249.49K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.31M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$338.50K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.82M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.02M	USD	1 Quarter
Unrealized gain (loss) on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$800.74K	USD	1 Quarter
Unrealized gain (loss) on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-13.62K	USD	3 Qtrs
Unrealized gain (loss) on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$951.25K	USD	3 Qtrs
Unrealized gain (loss) on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-5.21K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$3.77M	USD	3 Qtrs
Other income, net	`NonoperatingIncomeExpense`	$1.14M	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$1.29M	USD	3 Qtrs
Other income, net	`NonoperatingIncomeExpense`	$1.01M	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.99M	USD	3 Qtrs
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$764.05K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$895.24K	USD	1 Quarter
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$881.98K	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$640.77K	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$171.88K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$185.22K	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$160.45K	USD	1 Quarter
Net income	`NetIncomeLoss`	$603.60K	USD	1 Quarter
Net income	`NetIncomeLoss`	$723.36K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.35M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$696.76K	USD	3 Qtrs
Weighted average shares outstanding, basic and diluted (1)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.11M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted (1)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.09M	shares	3 Qtrs
Weighted average shares outstanding, basic and diluted (1)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.32M	shares	3 Qtrs
Weighted average shares outstanding, basic and diluted (1)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.03M	shares	1 Quarter
Basic and diluted net loss per common share (2)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted net loss per common share (2)	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	3 Qtrs
Basic and diluted net loss per common share (2)	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	3 Qtrs
Basic and diluted net loss per common share (2)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$603.60K	USD	1 Quarter
Net income	`NetIncomeLoss`	$723.36K	USD	1 Quarter
Net income	`NetIncomeLoss`	$2.35M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$696.76K	USD	3 Qtrs
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$1.31M	USD	3 Qtrs
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$338.50K	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$2.82M	USD	3 Qtrs
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$1.02M	USD	1 Quarter
Unrealized (gain) loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$800.74K	USD	1 Quarter
Unrealized (gain) loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-13.62K	USD	3 Qtrs
Unrealized (gain) loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$951.25K	USD	3 Qtrs
Unrealized (gain) loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-5.21K	USD	1 Quarter
Deferred tax provision	`DeferredIncomeTaxExpenseBenefit`	$198.91K	USD	3 Qtrs
Deferred tax provision	`DeferredIncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$119.96K	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-25.10K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-55.05K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$111.19K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$185.22K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$55.84K	USD	3 Qtrs
Net cash and cash held in escrow used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.20M	USD	3 Qtrs
Net cash and cash held in escrow used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-418.40K	USD	3 Qtrs
Investment of cash in Trust Account	`PaymentsToAcquireMarketableSecurities`	-	USD	3 Qtrs
Investment of cash in Trust Account	`PaymentsToAcquireMarketableSecurities`	$205.28M	USD	3 Qtrs
Cash withdrawn from Trust Account to pay for income and franchise taxes	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	3 Qtrs
Cash withdrawn from Trust Account to pay for income and franchise taxes	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$577.32K	USD	3 Qtrs
Net cash and cash held in escrow provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-205.28M	USD	3 Qtrs
Net cash and cash held in escrow provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$577.32K	USD	3 Qtrs
Proceeds from issuance of common stock to initial stockholders	`ProceedsFromIssuanceOfCommonStockToInitialStockholders`	$-8.65K	USD	3 Qtrs
Proceeds from issuance of common stock to initial stockholders	`ProceedsFromIssuanceOfCommonStockToInitialStockholders`	-	USD	3 Qtrs
Proceeds from sale of Units, net of underwriting discounts paid	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Proceeds from sale of Units, net of underwriting discounts paid	`ProceedsFromIssuanceOfCommonStock`	$196.22M	USD	3 Qtrs
Proceeds from sale of Private Units	`ProceedsFromIssuanceOfPrivatePlacement`	-	USD	3 Qtrs
Proceeds from sale of Private Units	`ProceedsFromIssuanceOfPrivatePlacement`	$11.50M	USD	3 Qtrs
Proceeds from promissory notes - related parties	`ProceedsOfPromissoryNoteRelatedPartyDebt`	$-300.00K	USD	3 Qtrs
Proceeds from promissory notes - related parties	`ProceedsOfPromissoryNoteRelatedPartyDebt`	-	USD	3 Qtrs
Repayment of promissory notes - related parties	`RepaymentsOfPromissoryNoteRelatedPartyDebt`	-	USD	3 Qtrs
Repayment of promissory notes - related parties	`RepaymentsOfPromissoryNoteRelatedPartyDebt`	$400.00K	USD	3 Qtrs
Payment of offering costs	`RepaymentsOfOfferingCosts`	$636.33K	USD	3 Qtrs
Payment of offering costs	`RepaymentsOfOfferingCosts`	-	USD	3 Qtrs
Net cash and cash held in escrow provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$206.99M	USD	3 Qtrs
Net cash and cash held in escrow provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	3 Qtrs
Net Change in Cash and Cash Held in Escrow	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-622.36K	USD	3 Qtrs
Net Change in Cash and Cash Held in Escrow	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.30M	USD	3 Qtrs
Cash and Cash Held in Escrow - Beginning	`Cash`	$1.44M	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`	$633.46K	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`	$1.44M	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`	$633.46K	USD	Point-in-time
Cash and Cash Held in Escrow - Ending	`Cash`	$143.40K	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$386.03K	USD	3 Qtrs
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	3 Qtrs
Initial classification of common stock subject to redemption	`InitialClassificationOfCommonStockSubjectToRedemption`	$196.67M	USD	3 Qtrs
Initial classification of common stock subject to redemption	`InitialClassificationOfCommonStockSubjectToRedemption`	-	USD	3 Qtrs
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	$2.35M	USD	3 Qtrs
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	$701.57K	USD	3 Qtrs
Deferred underwriting fee charged to additional paid in capital	`DeferredUnderwritingFeeChargedToAdditionalPaidInCapital`	-	USD	3 Qtrs
Deferred underwriting fee charged to additional paid in capital	`DeferredUnderwritingFeeChargedToAdditionalPaidInCapital`	$5.03M	USD	3 Qtrs

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Number of units sold	`SaleOfUnits`	20.12M	shares	3 Qtrs
Sale of private units	`SaleOfPrivateUnits`	1.15M	shares	3 Qtrs
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
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
Balance	`StockholdersEquity`	$5.00M	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
Common stock subject to possible redemption	`StockIssuedDuringPeriodValueCommonStockSubjecttoPossibleRedemption`	$-196.77M	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`	$-603.60K	USD	1 Quarter
Change in value of common stock subject to possible redemption	`StockIssuedDuringPeriodValueConversionOfUnits`	$-723.36K	USD	1 Quarter
Change in value of common stock subject to possible redemption	`StockIssuedDuringPeriodValueConversionOfUnits`	$-721.05K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$603.60K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$794.82K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$723.36K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-4.73K	USD	1 Quarter
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
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
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time

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