10-Q Filing

LOTTERY.COM INC. CIK: 1673481 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001615774-18-007916`
Period End Date	20180630
Filing Date	20180813
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	tdacu-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 55 Income Statement 40 Cash Flow Statement 53

Balance Sheet 55 line items

Line Item	Tag	Value	Unit	Period
Common stock subject to possible redemption	`StockRedeemedOrCalledDuringPeriodShares1`	0.00	shares	Point-in-time
Common stock subject to possible redemption	`StockRedeemedOrCalledDuringPeriodShares1`	19.27M	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 (in dollars per shares)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$143.40K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.46M	USD	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash held in escrow	`EscrowDeposit`	$150.00K	USD	Point-in-time
Cash held in escrow	`EscrowDeposit`	-	USD	Point-in-time
Cash held in escrow	`EscrowDeposit`	$856.25K	USD	Point-in-time
Common stock issued	`CommonStockSharesIssued`	7.03M	shares	Point-in-time
Common stock issued	`CommonStockSharesIssued`	3.74M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	3.74M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	7.03M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$144.65K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.75M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$143.40K	USD	Point-in-time
Deferred offering costs	`DeferredCosts`	-	USD	Point-in-time
Deferred offering costs	`DeferredCosts`	$403.04K	USD	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$205.55M	USD	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	-	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`	$547.64K	USD	Point-in-time
Total Assets	`Assets`	$207.31M	USD	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	-	USD	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$51.42K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$24.76K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	-	USD	Point-in-time
Promissory note - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$425.00K	USD	Point-in-time
Promissory note - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$525.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$525.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$501.18K	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	-	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$5.03M	USD	Point-in-time
Total Liabilities	`Liabilities`	$525.00K	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.53M	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock subject to possible redemption, 19,272,344 and -0- shares at redemption value as of June 30, 2018 and December 31, 2017, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	-	USD	Point-in-time
Common stock subject to possible redemption, 19,272,344 and -0- shares at redemption value as of June 30, 2018 and December 31, 2017, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$196.77M	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 7,033,906 and 3,737,500 issued and outstanding (excluding 19,272,344 and -0- shares subject to possible redemption) as of June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$7.03K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 7,033,906 and 3,737,500 issued and outstanding (excluding 19,272,344 and -0- shares subject to possible redemption) as of June 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$3.74K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.26K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$4.90M	USD	Point-in-time
Retained earnings/(Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-2.36K	USD	Point-in-time
Retained earnings/(Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$90.80K	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`	$547.64K	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$207.31M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Operating costs	`CostsAndExpenses`	$265.00	USD	1 Quarter
Operating costs	`CostsAndExpenses`	$160.13K	USD	2 Qtrs
Operating costs	`CostsAndExpenses`	$155.41K	USD	1 Quarter
Operating costs	`CostsAndExpenses`	$355.00	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-355.00	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-265.00	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-160.13K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-155.41K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$286.47K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$286.47K	USD	2 Qtrs
Interest income	`InvestmentIncomeInterest`	-	USD	2 Qtrs
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	2 Qtrs
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-8.41K	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-8.41K	USD	2 Qtrs
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	-	USD	2 Qtrs
Other income, net	`NonoperatingIncomeExpense`	$278.06K	USD	2 Qtrs
Other income, net	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$278.06K	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$122.65K	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$117.92K	USD	2 Qtrs
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-355.00	USD	2 Qtrs
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-265.00	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$24.76K	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$24.76K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-265.00	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$93.16K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-355.00	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$97.89K	USD	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.25M	shares	2 Qtrs
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	4.45M	shares	2 Qtrs
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.25M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.19M	shares	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	-	USD	1 Quarter
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	-	USD	2 Qtrs
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	2 Qtrs

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-265.00	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$93.16K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-355.00	USD	2 Qtrs
Net income (loss)	`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`	-	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`	-	USD	2 Qtrs
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	2 Qtrs
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-8.41K	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-8.41K	USD	2 Qtrs
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	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`	-	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	2 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$24.76K	USD	2 Qtrs
Net cash and cash held in escrow used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-355.00	USD	2 Qtrs
Net cash and cash held in escrow used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-253.36K	USD	2 Qtrs
Investment of cash in Trust Account	`PaymentsToAcquireMarketableSecurities`	-	USD	2 Qtrs
Investment of cash in Trust Account	`PaymentsToAcquireMarketableSecurities`	$205.28M	USD	2 Qtrs
Net cash and cash held in escrow used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-205.28M	USD	2 Qtrs
Net cash and cash held in escrow used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	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 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`	$636.33K	USD	2 Qtrs
Payment of offering costs	`RepaymentsOfOfferingCosts`	$55.90K	USD	2 Qtrs
Net cash and cash held in escrow provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$206.99M	USD	2 Qtrs
Net cash and cash held in escrow provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-55.90K	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`	$-56.25K	USD	2 Qtrs
Cash and Cash Held in Escrow - Beginning	`Cash`	$55.95K	USD	Point-in-time
Cash and Cash Held in Escrow - Beginning	`Cash`	$143.40K	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`	$-298.00	USD	Point-in-time
Cash and Cash Held in Escrow - Ending	`Cash`	$55.95K	USD	Point-in-time
Cash and Cash Held in Escrow - Ending	`Cash`	$143.40K	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`	$-298.00	USD	Point-in-time
Initial classification of common stock subject to redemption	`InitialClassificationOfCommonStockSubjectToRedemption`	$196.67M	USD	2 Qtrs
Initial classification of common stock subject to redemption	`InitialClassificationOfCommonStockSubjectToRedemption`	-	USD	2 Qtrs
Change in value of common stock subject to redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	-	USD	2 Qtrs
Change in value of common stock subject to redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	$97.97K	USD	2 Qtrs
Deferred underwriting fee charged to additional paid in capital	`DeferredUnderwritingFeeChargedToAdditionalPaidInCapital`	$5.03M	USD	2 Qtrs
Deferred underwriting fee charged to additional paid in capital	`DeferredUnderwritingFeeChargedToAdditionalPaidInCapital`	-	USD	2 Qtrs

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