10-Q Filing

LOTTERY.COM INC. CIK: 1673481 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001213900-21-043067`
Period End Date	20210630
Filing Date	20210816
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	f10q0621_tridentacq_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 52 Cash Flow Statement 53 Stockholders Equity 20

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Common stock subject to possible redemption	`StockRedeemedOrCalledDuringPeriodShares1`	3.88M	shares	Point-in-time
Common stock subject to possible redemption	`StockRedeemedOrCalledDuringPeriodShares1`	3.66M	shares	Point-in-time
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, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$972.79K	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`	$129.39K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$71.68K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$51.98K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Prepaid income taxes	`PrepaidIncomeTaxes1`	$12.19K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Prepaid income taxes	`PrepaidIncomeTaxes1`	$12.19K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.04M	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$213.25K	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	$217.09K	USD	Point-in-time
Deferred tax asset	`DeferredIncomeTaxAssetsNet`	$346.30K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.09M	shares	Point-in-time
Security deposit	`SecurityDeposit`	$1.20K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	8.31M	shares	Point-in-time
Security deposit	`SecurityDeposit`	$1.20K	USD	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$63.41M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.09M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	8.31M	shares	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$63.29M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$63.85M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$64.66M	USD	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$325.86K	USD	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$819.60K	USD	Point-in-time
Promissory notes related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$425.00K	USD	Point-in-time
Promissory notes related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$1.10M	USD	Point-in-time
Promissory notes related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$5.08M	USD	Point-in-time
Promissory notes related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$5.08M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$5.40M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$5.89M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$6.72M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesNoncurrent`	$7.92M	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`	$18.85M	USD	Point-in-time
Total Liabilities	`Liabilities`	$17.15M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock subject to possible redemption, 3,657,524 and 3,881,505 shares at redemption value as of June 30, 2021 and December 31, 2020, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$42.51M	USD	Point-in-time
Common stock subject to possible redemption, 3,657,524 and 3,881,505 shares at redemption value as of June 30, 2021 and December 31, 2020, respectively	`TemporaryEquityCarryingAmountAttributableToParent`	$40.00M	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; 8,310,081 and 8,086,215 issued and outstanding (excluding 3,657,524 and 3,881,505 shares subject to possible redemption) as of June 30, 2021 and December 31, 2020, respectively	`CommonStockValue`	$8.09K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 8,310,081 and 8,086,215 issued and outstanding (excluding 3,657,524 and 3,881,505 shares subject to possible redemption) as of June 30, 2021 and December 31, 2020, respectively	`CommonStockValue`	$8.31K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$4.22M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$6.74M	USD	Point-in-time
(Accumulated deficit) retained earnings	`RetainedEarningsAccumulatedDeficit`	$-1.75M	USD	Point-in-time
(Accumulated deficit) retained earnings	`RetainedEarningsAccumulatedDeficit`	$768.28K	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`	$63.85M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	`LiabilitiesAndStockholdersEquity`	$64.66M	USD	Point-in-time

Income Statement 52 line items

Line Item	Tag	Value	Unit	Period
Operating costs	`OperatingCostsAndExpenses`	$334.35K	USD	1 Quarter
Operating costs	`OperatingCostsAndExpenses`	$596.92K	USD	2 Qtrs
Operating costs	`OperatingCostsAndExpenses`	$734.67K	USD	1 Quarter
Operating costs	`OperatingCostsAndExpenses`	$1.44M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-734.67K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-596.92K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-334.35K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.44M	USD	2 Qtrs
Interest earned on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$957.00	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$340.98K	USD	2 Qtrs
Interest earned on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$78.50K	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$1.89K	USD	2 Qtrs
Change in fair value of derivative liabilities	`UnrealizedGainLossOnDerivatives`	-	USD	1 Quarter
Change in fair value of derivative liabilities	`UnrealizedGainLossOnDerivatives`	-	USD	2 Qtrs
Change in fair value of derivative liabilities	`UnrealizedGainLossOnDerivatives`	$-1.21M	USD	2 Qtrs
Change in fair value of derivative liabilities	`UnrealizedGainLossOnDerivatives`	$-2.06M	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	$72.00	USD	2 Qtrs
Other	`OtherNonoperatingIncomeExpense`	-	USD	1 Quarter
Other	`OtherNonoperatingIncomeExpense`	-	USD	2 Qtrs
Other (expense) income, net	`NonoperatingIncomeExpense`	$78.50K	USD	1 Quarter
Other (expense) income, net	`NonoperatingIncomeExpense`	$-1.21M	USD	2 Qtrs
Other (expense) income, net	`NonoperatingIncomeExpense`	$340.98K	USD	2 Qtrs
Other (expense) income, net	`NonoperatingIncomeExpense`	$-2.06M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-255.85K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.79M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.64M	USD	2 Qtrs
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-255.94K	USD	2 Qtrs
Benefit from income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-129.21K	USD	2 Qtrs
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-79.22K	USD	1 Quarter
Benefit from income taxes	`IncomeTaxExpenseBenefit`	$-220.00	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-255.94K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.71M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.51M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-255.63K	USD	1 Quarter
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDilutedCommonStockSubjectToPossibleRedemption`	3.90M	shares	1 Quarter
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDilutedCommonStockSubjectToPossibleRedemption`	9.09M	shares	2 Qtrs
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDilutedCommonStockSubjectToPossibleRedemption`	3.89M	shares	2 Qtrs
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDilutedCommonStockSubjectToPossibleRedemption`	6.02M	shares	1 Quarter
Basic and diluted net income per share, Common Stock subject to possible redemption (in Dollars per share)	`EarningsPerShareBasicAndDilutedCommonStockSubjectToPossibleRedemption`	-	USD	2 Qtrs
Basic and diluted net income per share, Common Stock subject to possible redemption (in Dollars per share)	`EarningsPerShareBasicAndDilutedCommonStockSubjectToPossibleRedemption`	-	USD	1 Quarter
Basic and diluted net income per share, Common Stock subject to possible redemption (in Dollars per share)	`EarningsPerShareBasicAndDilutedCommonStockSubjectToPossibleRedemption`	-	USD	1 Quarter
Basic and diluted net income per share, Common Stock subject to possible redemption (in Dollars per share)	`EarningsPerShareBasicAndDilutedCommonStockSubjectToPossibleRedemption`	-	USD	2 Qtrs
Basic and diluted weighted average shares outstanding, Non-redeemable common stock (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.06M	shares	1 Quarter
Basic and diluted weighted average shares outstanding, Non-redeemable common stock (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.18M	shares	2 Qtrs
Basic and diluted weighted average shares outstanding, Non-redeemable common stock (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	7.21M	shares	1 Quarter
Basic and diluted weighted average shares outstanding, Non-redeemable common stock (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	8.08M	shares	2 Qtrs
Basic net loss per share, Non-redeemable common stock (in Dollars per share)	`EarningsPerShareBasic`	$-0.31	USD	2 Qtrs
Basic net loss per share, Non-redeemable common stock (in Dollars per share)	`EarningsPerShareBasic`	$-0.06	USD	2 Qtrs
Basic net loss per share, Non-redeemable common stock (in Dollars per share)	`EarningsPerShareBasic`	$-0.04	USD	1 Quarter
Basic net loss per share, Non-redeemable common stock (in Dollars per share)	`EarningsPerShareBasic`	$-0.34	USD	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Sale of subsidiary	`SaleOfSubsidiary`	$25.00K	USD	2 Qtrs
Sale of subsidiary	`SaleOfSubsidiary`	$25.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-255.94K	USD	2 Qtrs
Less cash disposed	`LessCashDisposed`	$25.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.71M	USD	1 Quarter
Less cash disposed	`LessCashDisposed`	$25.00K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.51M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-255.63K	USD	1 Quarter
Net cash	`SaleOfNetCash`	-	USD	2 Qtrs
Net cash	`SaleOfNetCash`	-	USD	2 Qtrs
Change in fair value of derivative liabilities	`FairValueAdjustmentOfWarrants`	-	USD	2 Qtrs
Change in fair value of derivative liabilities	`FairValueAdjustmentOfWarrants`	$1.21M	USD	2 Qtrs
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$1.89K	USD	2 Qtrs
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$340.98K	USD	2 Qtrs
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	$-129.21K	USD	2 Qtrs
Deferred tax benefit	`DeferredIncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$-49.27K	USD	2 Qtrs
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidExpense`	$19.70K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-36.09K	USD	2 Qtrs
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$493.74K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-583.73K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-963.65K	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 to redeeming stockholders	`CashWithdrawnFromTrustAccountToRedeemingStockholders`	$6.67M	USD	2 Qtrs
Cash withdrawn from Trust Account to redeeming stockholders	`CashWithdrawnFromTrustAccountToRedeemingStockholders`	$1.26K	USD	2 Qtrs
Cash withdrawn from Trust Account for franchise and income taxes	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$410.87K	USD	2 Qtrs
Cash withdrawn from Trust Account for franchise and income taxes	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$120.25K	USD	2 Qtrs
Cash withdrawn from Trust Account for franchise and income taxes	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$120.25K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$5.62M	USD	2 Qtrs
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$121.51K	USD	2 Qtrs
Proceeds from promissory notes related parties	`ProceedsOfPromissoryNoteRelatedPartyDebt`	$-2.73M	USD	2 Qtrs
Proceeds from promissory notes related parties	`ProceedsOfPromissoryNoteRelatedPartyDebt`	$-425.00K	USD	2 Qtrs
Repayment of promissory note related parties	`RepaymentsOfPromissoryNoteRelatedPartyDebt`	$180.00K	USD	2 Qtrs
Repayment of promissory note related parties	`RepaymentsOfPromissoryNoteRelatedPartyDebt`	$425.00K	USD	2 Qtrs
Redemption of common stock	`ProceedsFromIssuanceOfCommonStock`	$-6.67M	USD	2 Qtrs
Redemption of common stock	`ProceedsFromIssuanceOfCommonStock`	$-1.26K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.26K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.12M	USD	2 Qtrs
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-843.40K	USD	2 Qtrs
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$909.64K	USD	2 Qtrs
Cash Beginning	`Cash`	$965.10K	USD	Point-in-time
Cash Beginning	`Cash`	$55.46K	USD	Point-in-time
Cash Beginning	`Cash`	$129.39K	USD	Point-in-time
Cash Beginning	`Cash`	$972.79K	USD	Point-in-time
Cash Ending	`Cash`	$965.10K	USD	Point-in-time
Cash Ending	`Cash`	$55.46K	USD	Point-in-time
Cash Ending	`Cash`	$129.39K	USD	Point-in-time
Cash Ending	`Cash`	$972.79K	USD	Point-in-time
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	$2.52M	USD	2 Qtrs
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	$255.94K	USD	2 Qtrs
Sale of subsidiary for $25,000 less cash disposed of totaling $25,000, net cash impact of $0.	`SaleOfSubsidiaryForLessCashDisposedOfTotalingNetCashImpactOf`	-	USD	2 Qtrs
Sale of subsidiary for $25,000 less cash disposed of totaling $25,000, net cash impact of $0.	`SaleOfSubsidiaryForLessCashDisposedOfTotalingNetCashImpactOf`	-	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
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`	$-200.91K	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`	$2.71M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-305.00	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-255.63K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-2.71M	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$200.91K	USD	1 Quarter
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

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