10-Q Filing

LOTTERY.COM INC. CIK: 1673481 Q2 2020

Filing Information

Form Type	10-Q
Accession Number	`0001213900-20-020932`
Period End Date	20200630
Filing Date	20200807
Fiscal Year	2020
Fiscal Period	Q2
XBRL Instance	f10q0620_tridentacqu_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 61 Income Statement 45 Cash Flow Statement 47 Stockholders Equity 20

Balance Sheet 61 line items

Line Item	Tag	Value	Unit	Period
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$965.10K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$55.46K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$53.65K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$102.92K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$158.38K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.02M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$69.10M	USD	Point-in-time
Common stock subject to possible redemption	`StockRedeemedOrCalledDuringPeriodShares1`	5.31M	shares	Point-in-time
Common stock subject to possible redemption	`StockRedeemedOrCalledDuringPeriodShares1`	6.08M	shares	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
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$74.54M	USD	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
TOTAL ASSETS	`Assets`	$70.12M	USD	Point-in-time
Common stock issued	`CommonStockSharesIssued`	7.29M	shares	Point-in-time
Common stock issued	`CommonStockSharesIssued`	7.15M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	7.29M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	7.15M	shares	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$159.38K	USD	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$123.29K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$679.43K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$679.43K	USD	Point-in-time
Promissory notes related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$2.30M	USD	Point-in-time
Promissory notes related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$180.00K	USD	Point-in-time
Promissory notes related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$2.73M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.53M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.02M	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`	$8.56M	USD	Point-in-time
Common stock subject to possible redemption, 5,305,640 and 6,076,290 shares at redemption value as of June 30, 2020 and December 31, 2019, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$56.56M	USD	Point-in-time
Common stock subject to possible redemption, 5,305,640 and 6,076,290 shares at redemption value as of June 30, 2020 and December 31, 2019, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$63.49M	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; 7,292,117 and 7,148,526 issued and outstanding (excluding 5,305,640 and 6,076,290 shares subject to possible redemption) as of June 30, 2020 and December 31, 2019, respectively	`CommonStockValue`	$7.15K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 7,292,117 and 7,148,526 issued and outstanding (excluding 5,305,640 and 6,076,290 shares subject to possible redemption) as of June 30, 2020 and December 31, 2019, respectively	`CommonStockValue`	$7.29K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$1.31M	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`	$3.68M	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`	$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 LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$70.12M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$74.54M	USD	Point-in-time

Income Statement 45 line items

Line Item	Tag	Value	Unit	Period
Excludes an aggregate of shares subject to redemption	`ExcludesAggregateOfSharesSubjectToRedemption`	19.22M	shares	1 Quarter
Operating costs	`CostsAndExpenses`	$334.35K	USD	1 Quarter
Excludes an aggregate of shares subject to redemption	`ExcludesAggregateOfSharesSubjectToRedemption`	5.31M	shares	1 Quarter
Operating costs	`CostsAndExpenses`	$596.92K	USD	2 Qtrs
Operating costs	`CostsAndExpenses`	$539.70K	USD	2 Qtrs
Operating costs	`CostsAndExpenses`	$313.48K	USD	1 Quarter
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`	$-313.48K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-539.70K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-596.92K	USD	2 Qtrs
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`	23,749.00	shares	1 Quarter
Net loss per share - basic and diluted excludes income attributable to common stock subject to possible redemption	`NetLossPerShareBasicAndDilutedExcludesIncomeAttributableToCommonStockSubjectToPossibleRedemption`	199,266.00	shares	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-334.35K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$78.50K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.25M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$2.48M	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	$340.98K	USD	2 Qtrs
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	2 Qtrs
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$134.34K	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$150.50K	USD	2 Qtrs
Other income	`NonoperatingIncomeExpense`	$340.98K	USD	2 Qtrs
Other income	`NonoperatingIncomeExpense`	$1.38M	USD	1 Quarter
Other income	`NonoperatingIncomeExpense`	$2.63M	USD	2 Qtrs
Other income	`NonoperatingIncomeExpense`	$78.50K	USD	1 Quarter
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$2.09M	USD	2 Qtrs
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-255.85K	USD	1 Quarter
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-255.94K	USD	2 Qtrs
(Loss) income before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.07M	USD	1 Quarter
Benefit (provision) for income taxes	`IncomeTaxExpenseBenefit`	$241.60K	USD	1 Quarter
Benefit (provision) for income taxes	`IncomeTaxExpenseBenefit`	$-220.00	USD	1 Quarter
Benefit (provision) for income taxes	`IncomeTaxExpenseBenefit`	$468.89K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$-255.63K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-255.94K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$1.62M	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$827.48K	USD	1 Quarter
Weighted average shares outstanding, basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.08M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.08M	shares	2 Qtrs
Weighted average shares outstanding, basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.18M	shares	2 Qtrs
Weighted average shares outstanding, basic and diluted (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.21M	shares	1 Quarter
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	2 Qtrs
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	2 Qtrs
Basic and diluted net loss per common share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.04	USD	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`NetIncomeLoss`	$-255.63K	USD	1 Quarter
Net (loss) income	`NetIncomeLoss`	$-255.94K	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$1.62M	USD	2 Qtrs
Net (loss) income	`NetIncomeLoss`	$827.48K	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$78.50K	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`	$2.48M	USD	2 Qtrs
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$340.98K	USD	2 Qtrs
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	2 Qtrs
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$134.34K	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$150.50K	USD	2 Qtrs
Deferred tax provision	`DeferredIncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Deferred tax provision	`DeferredIncomeTaxExpenseBenefit`	$30.75K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$19.43K	USD	2 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$-49.27K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-78.56K	USD	2 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-36.09K	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$52.10K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.02M	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-583.73K	USD	2 Qtrs
Investment of cash in Trust Account	`PaymentsToAcquireMarketableSecurities`	$1.46M	USD	2 Qtrs
Investment of cash in Trust Account	`PaymentsToAcquireMarketableSecurities`	-	USD	2 Qtrs
Cash withdrawn from Trust Account for redemptions	`ProceedsFromSaleAndMaturityForTrustAccountRedemptions`	$6.67M	USD	2 Qtrs
Cash withdrawn from Trust Account to pay for franchise taxes and income taxes	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$410.87K	USD	2 Qtrs
Cash withdrawn from Trust Account to pay for franchise taxes and income taxes	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$505.15K	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$5.62M	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$505.15K	USD	2 Qtrs
Proceeds from promissory notes related parties	`ProceedsOfPromissoryNoteRelatedPartyDebt`	-	USD	2 Qtrs
Proceeds from promissory notes related parties	`ProceedsOfPromissoryNoteRelatedPartyDebt`	$-2.73M	USD	2 Qtrs
Repayment of promissory note related parties	`RepaymentsOfPromissoryNoteRelatedPartyDebt`	$180.00K	USD	2 Qtrs
Redemptions of common stock	`RedemptionsOfCommonStock`	$6.67M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.12M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	2 Qtrs
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$909.64K	USD	2 Qtrs
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-518.56K	USD	2 Qtrs
Cash Beginning	`Cash`	$965.10K	USD	Point-in-time
Cash Beginning	`Cash`	$1.26M	USD	Point-in-time
Cash Beginning	`Cash`	$737.26K	USD	Point-in-time
Cash Beginning	`Cash`	$55.46K	USD	Point-in-time
Cash Ending	`Cash`	$965.10K	USD	Point-in-time
Cash Ending	`Cash`	$1.26M	USD	Point-in-time
Cash Ending	`Cash`	$737.26K	USD	Point-in-time
Cash Ending	`Cash`	$55.46K	USD	Point-in-time
Cash paid for income taxes	`IncomeTaxesPaidNet`	$386.03K	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`	$255.94K	USD	2 Qtrs

Stockholders Equity 20 line items

Line Item	Tag	Value	Unit	Period
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`	$5.00M	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`	$5.00M	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`	$5.00M	USD	Point-in-time
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`	$301.00	USD	1 Quarter
Change in value of common stock subject to possible redemption	`StockIssuedDuringPeriodValueConversionOfUnits`	$255.64K	USD	1 Quarter
Change in value of common stock subject to possible redemption	`StockIssuedDuringPeriodValueConversionOfUnits`	$-827.48K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$827.48K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-305.00	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$794.82K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-255.63K	USD	1 Quarter

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