10-K Filing

LOTTERY.COM INC. CIK: 1673481 FY 2019

Filing Information

Form Type	10-K
Accession Number	`0001213900-20-006552`
Period End Date	20191231
Filing Date	20200316
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	tdacu-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 24 Cash Flow Statement 56 Stockholders Equity 15

Balance Sheet 53 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`	6.08M	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`	$55.46K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.26M	USD	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$63.84K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$102.92K	USD	Point-in-time
Common stock issued	`CommonStockSharesIssued`	7.15M	shares	Point-in-time
Common stock issued	`CommonStockSharesIssued`	7.07M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	7.15M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$158.38K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.32M	USD	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	7.07M	shares	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$207.75M	USD	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$74.38M	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`	$74.54M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$209.07M	USD	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$159.38K	USD	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$159.51K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$373.79K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$679.43K	USD	Point-in-time
Promissory note - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$180.00K	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`	$1.02M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilities`	-	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`	$6.05M	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, 6,076,290 and 19,235,623 shares at redemption value as of December 31, 2019 and 2018, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$63.49M	USD	Point-in-time
Common stock subject to possible redemption, 6,076,290 and 19,235,623 shares at redemption value as of December 31, 2019 and 2018, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$198.08M	USD	Point-in-time
Preferred stock, $0.001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 1,000,000 shares authorized; none issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 7,148,526 and 7,070,627 issued and outstanding (excluding 6,076,290 and 19,235,623 shares subject to possible redemption) as of December 31, 2019 and 2018, respectively	`CommonStockValue`	$7.15K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 7,148,526 and 7,070,627 issued and outstanding (excluding 6,076,290 and 19,235,623 shares subject to possible redemption) as of December 31, 2019 and 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`	$1.06M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$3.93M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.40M	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`	$74.54M	USD	Point-in-time

Income Statement 24 line items

Line Item	Tag	Value	Unit	Period
Operating costs	`CostsAndExpenses`	$699.33K	USD	Annual
Excludes an aggregate of shares subject to redemption	`ExcludesAggregateOfSharesSubjectToRedemption`	19.24M	shares	Annual
Operating costs	`CostsAndExpenses`	$1.10M	USD	Annual
Excludes an aggregate of shares subject to redemption	`ExcludesAggregateOfSharesSubjectToRedemption`	6.08M	shares	Annual
Net loss per share - basic and diluted excludes income attributable to common stock subject to possible redemption	`NetLossPerShareBasicAndDilutedExcludesIncomeAttributableToCommonStockSubjectToPossibleRedemption`	2.98M	shares	Annual
Loss from operations	`OperatingIncomeLoss`	$-699.33K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.10M	USD	Annual
Net loss per share - basic and diluted excludes income attributable to common stock subject to possible redemption	`NetLossPerShareBasicAndDilutedExcludesIncomeAttributableToCommonStockSubjectToPossibleRedemption`	1.88M	shares	Annual
Interest income	`InvestmentIncomeInterest`	$4.32M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$2.47M	USD	Annual
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$4.05K	USD	Annual
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	Annual
Other income	`NonoperatingIncomeExpense`	$2.48M	USD	Annual
Other income	`NonoperatingIncomeExpense`	$4.32M	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$3.22M	USD	Annual
Income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.78M	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$374.64K	USD	Annual
Provision for income taxes	`IncomeTaxExpenseBenefit`	$690.82K	USD	Annual
Net income	`NetIncomeLoss`	$1.40M	USD	Annual
Net income	`NetIncomeLoss`	$2.53M	USD	Annual
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.10M	shares	Annual
Weighted average shares outstanding, basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.76M	shares	Annual
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	Annual
Basic and diluted net loss per common share	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	Annual

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$1.40M	USD	Annual
Net income	`NetIncomeLoss`	$2.53M	USD	Annual
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$4.32M	USD	Annual
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$2.47M	USD	Annual
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$4.05K	USD	Annual
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	Annual
Deferred tax (benefit) provision	`DeferredIncomeTaxExpenseBenefit`	$851.00	USD	Annual
Deferred tax (benefit) provision	`DeferredIncomeTaxExpenseBenefit`	$-851.00	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$63.84K	USD	Annual
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$39.07K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$159.51K	USD	Annual
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-135.00	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$305.64K	USD	Annual
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$373.79K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-603.66K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.53M	USD	Annual
Investment of cash in Trust Account	`PaymentsToAcquireMarketableSecurities`	$500.00K	USD	Annual
Investment of cash in Trust Account	`PaymentsToAcquireMarketableSecurities`	$205.28M	USD	Annual
Cash withdrawn from Trust Account for redemptions	`ProceedsFromSaleAndMaturityForTrustAccountRedemptions`	-	USD	Annual
Cash withdrawn from Trust Account for redemptions	`ProceedsFromSaleAndMaturityForTrustAccountRedemptions`	$137.13M	USD	Annual
Cash withdrawn from Trust Account to pay for franchise and income taxes	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	-	USD	Annual
Cash withdrawn from Trust Account to pay for franchise and income taxes	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$1.07M	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-205.28M	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$137.70M	USD	Annual
Proceeds from issuance of common stock to initial stockholders	`ProceedsFromIssuanceOfCommonStockToInitialStockholders`	$-8.65K	USD	Annual
Proceeds from issuance of common stock to initial stockholders	`ProceedsFromIssuanceOfCommonStockToInitialStockholders`	-	USD	Annual
Proceeds from sale of Units, net of underwriting discounts paid	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from sale of Units, net of underwriting discounts paid	`ProceedsFromIssuanceOfCommonStock`	$196.22M	USD	Annual
Proceeds from sale of Private Units	`ProceedsFromIssuanceOfPrivatePlacement`	$11.50M	USD	Annual
Proceeds from sale of Private Units	`ProceedsFromIssuanceOfPrivatePlacement`	-	USD	Annual
Proceeds from promissory notes - related parties	`ProceedsOfPromissoryNoteRelatedPartyDebt`	$-180.00K	USD	Annual
Proceeds from promissory notes - related parties	`ProceedsOfPromissoryNoteRelatedPartyDebt`	$-300.00K	USD	Annual
Repayment of promissory notes - related parties	`RepaymentsOfPromissoryNoteRelatedPartyDebt`	$425.00K	USD	Annual
Repayment of promissory notes - related parties	`RepaymentsOfPromissoryNoteRelatedPartyDebt`	$400.00K	USD	Annual
Payment of offering costs	`RepaymentsOfOfferingCosts`	-	USD	Annual
Payment of offering costs	`RepaymentsOfOfferingCosts`	$636.33K	USD	Annual
Redemptions of common stock	`RedemptionsOfCommonStock`	$137.13M	USD	Annual
Redemptions of common stock	`RedemptionsOfCommonStock`	-	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-137.38M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$206.99M	USD	Annual
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.11M	USD	Annual
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.20M	USD	Annual
Cash - Beginning	`Cash`	$143.40K	USD	Point-in-time
Cash - Beginning	`Cash`	$55.46K	USD	Point-in-time
Cash - Beginning	`Cash`	$1.26M	USD	Point-in-time
Cash - Ending	`Cash`	$143.40K	USD	Point-in-time
Cash - Ending	`Cash`	$55.46K	USD	Point-in-time
Cash - Ending	`Cash`	$1.26M	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$386.03K	USD	Annual
Cash paid for income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Initial classification of common stock subject to possible redemption	`InitialClassificationOfCommonStockSubjectToRedemption`	-	USD	Annual
Initial classification of common stock subject to possible redemption	`InitialClassificationOfCommonStockSubjectToRedemption`	$196.67M	USD	Annual
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	$2.53M	USD	Annual
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	$1.41M	USD	Annual
Deferred underwriting fee charged to additional paid in capital	`DeferredUnderwritingFeeChargedToAdditionalPaidInCapital`	-	USD	Annual
Deferred underwriting fee charged to additional paid in capital	`DeferredUnderwritingFeeChargedToAdditionalPaidInCapital`	$5.03M	USD	Annual

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Number of units sold	`SaleOfUnits`	20.12M	shares	Annual
Sale of private units	`SaleOfPrivateUnits`	1.15M	shares	Annual
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Balance	`StockholdersEquity`	$22.64K	USD	Point-in-time
Change in value of common stock subject to possible redemption	`StockIssuedDuringPeriodValueConversionOfUnits`	$2.53M	USD	Annual
Common stock issued to initial stockholders	`StockIssuedDuringPeriodValueNewIssues`	$8.65K	USD	Annual
Sale of 20,125,000 Units, net of underwriting discounts and offering expenses	`StockIssuedDuringPeriodValueOther`	$190.15M	USD	Annual
Sale of 1,150,000 Private Units	`SaleOfStockConsiderationReceivedOnTransaction1`	$11.50M	USD	Annual
Common stock subject to possible redemption	`StockIssuedDuringPeriodValueCommonStockSubjecttoPossibleRedemption`	$-198.08M	USD	Annual
Net income	`ProfitLoss`	$2.53M	USD	Annual
Net income	`ProfitLoss`	$1.40M	USD	Annual
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.