10-Q Filing

LOTTERY.COM INC. CIK: 1673481 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001615774-18-012418`
Period End Date	20180930
Filing Date	20181109
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	tdacu-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 53 Income Statement 40 Cash Flow Statement 49

Balance Sheet 53 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`	19.26M	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
Common stock authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$143.40K	USD	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.34M	USD	Point-in-time
Cash held in escrow	`EscrowDeposit`	-	USD	Point-in-time
Cash held in escrow	`EscrowDeposit`	$100.00K	USD	Point-in-time
Common stock issued	`CommonStockSharesIssued`	7.05M	shares	Point-in-time
Common stock issued	`CommonStockSharesIssued`	3.74M	shares	Point-in-time
Cash held in escrow	`EscrowDeposit`	$856.25K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$119.96K	USD	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	3.74M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	7.05M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$143.40K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.56M	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`	$206.57M	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`	$208.13M	USD	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$111.19K	USD	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	-	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	-	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$185.22K	USD	Point-in-time
Promissory note - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$525.00K	USD	Point-in-time
Promissory note - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$425.00K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$721.40K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$525.00K	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	$5.03M	USD	Point-in-time
Deferred underwriting fee payable	`DeferredUnderwritingFeePayable`	-	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.75M	USD	Point-in-time
Total Liabilities	`Liabilities`	$525.00K	USD	Point-in-time
Common stock subject to possible redemption, 19,256,201 and -0- shares at redemption value as of September 30, 2018 and December 31, 2017, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	-	USD	Point-in-time
Common stock subject to possible redemption, 19,256,201 and -0- shares at redemption value as of September 30, 2018 and December 31, 2017, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$197.38M	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 7,050,049 and 3,737,500 issued and outstanding (excluding 19,256,201 and -0- shares subject to possible redemption) as of September 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$3.74K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 7,050,049 and 3,737,500 issued and outstanding (excluding 19,256,201 and -0- shares subject to possible redemption) as of September 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$7.05K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$21.26K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$4.30M	USD	Point-in-time
Retained earnings/(Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$-2.36K	USD	Point-in-time
Retained earnings/(Accumulated deficit)	`RetainedEarningsAccumulatedDeficit`	$694.40K	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`	$208.13M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$547.64K	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Operating costs	`CostsAndExpenses`	$30.00	USD	1 Quarter
Operating costs	`CostsAndExpenses`	$249.49K	USD	1 Quarter
Operating costs	`CostsAndExpenses`	$385.00	USD	3 Qtrs
Operating costs	`CostsAndExpenses`	$409.62K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-249.49K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-30.00	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-385.00	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-409.62K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	-	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$1.31M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.02M	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	3 Qtrs
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-13.62K	USD	3 Qtrs
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-5.21K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	-	USD	3 Qtrs
Other income, net	`NonoperatingIncomeExpense`	$1.01M	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$1.29M	USD	3 Qtrs
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-385.00	USD	3 Qtrs
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$764.05K	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-30.00	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$881.98K	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$160.45K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$185.22K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-30.00	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-385.00	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$696.76K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$603.60K	USD	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.25M	shares	3 Qtrs
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.03M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	5.32M	shares	3 Qtrs
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.25M	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	3 Qtrs
Basic and diluted net loss per common share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.05	USD	3 Qtrs

Cash Flow Statement 49 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-30.00	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-385.00	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$696.76K	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$603.60K	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	-	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`	-	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$1.02M	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	3 Qtrs
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-13.62K	USD	3 Qtrs
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Unrealized loss on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$-5.21K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	3 Qtrs
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$119.96K	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$328.00	USD	3 Qtrs
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$111.19K	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	3 Qtrs
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$185.22K	USD	3 Qtrs
Net cash and cash held in escrow used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-57.00	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`	$205.28M	USD	3 Qtrs
Investment of cash in Trust Account	`PaymentsToAcquireMarketableSecurities`	-	USD	3 Qtrs
Net cash and cash held in escrow used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-205.28M	USD	3 Qtrs
Net cash and cash held in escrow used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Proceeds from issuance of common stock to initial stockholders	`ProceedsFromIssuanceOfCommonStockToInitialStockholders`	$-8.65K	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`	$11.50M	USD	3 Qtrs
Proceeds from promissory notes - related parties	`ProceedsOfPromissoryNoteRelatedPartyDebt`	$-300.00K	USD	3 Qtrs
Repayment of promissory notes - related parties	`RepaymentsOfPromissoryNoteRelatedPartyDebt`	$400.00K	USD	3 Qtrs
Payment of offering costs	`RepaymentsOfOfferingCosts`	$55.90K	USD	3 Qtrs
Payment of offering costs	`RepaymentsOfOfferingCosts`	$636.33K	USD	3 Qtrs
Net cash and cash held in escrow provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-55.90K	USD	3 Qtrs
Net cash and cash held in escrow provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$206.99M	USD	3 Qtrs
Net Change in Cash and Cash Held in Escrow	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.30M	USD	3 Qtrs
Net Change in Cash and Cash Held in Escrow	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-55.95K	USD	3 Qtrs
Cash and Cash Held in Escrow - Beginning	`Cash`	$143.40K	USD	Point-in-time
Cash and Cash Held in Escrow - Beginning	`Cash`	-	USD	Point-in-time
Cash and Cash Held in Escrow - Beginning	`Cash`	$55.95K	USD	Point-in-time
Cash and Cash Held in Escrow - Beginning	`Cash`	$1.44M	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`	-	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`	$1.44M	USD	Point-in-time
Initial classification of common stock subject to redemption	`InitialClassificationOfCommonStockSubjectToRedemption`	-	USD	3 Qtrs
Initial classification of common stock subject to redemption	`InitialClassificationOfCommonStockSubjectToRedemption`	$196.67M	USD	3 Qtrs
Change in value of common stock subject to redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	$701.57K	USD	3 Qtrs
Change in value of common stock subject to redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	-	USD	3 Qtrs
Deferred underwriting fee charged to additional paid in capital	`DeferredUnderwritingFeeChargedToAdditionalPaidInCapital`	$5.03M	USD	3 Qtrs
Deferred underwriting fee charged to additional paid in capital	`DeferredUnderwritingFeeChargedToAdditionalPaidInCapital`	-	USD	3 Qtrs

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