10-Q Filing

LOTTERY.COM INC. CIK: 1673481 Q1 2019

Filing Information

Form Type	10-Q
Accession Number	`0001615774-19-007925`
Period End Date	20190331
Filing Date	20190515
Fiscal Year	2019
Fiscal Period	Q1
XBRL Instance	tdacu-20190331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 50 Income Statement 20 Cash Flow Statement 42 Stockholders Equity 12

Balance Sheet 50 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`	19.22M	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`	$1.26M	USD	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.11M	USD	Point-in-time
Common stock authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$63.84K	USD	Point-in-time
Common stock issued	`CommonStockSharesIssued`	7.08M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$65.08K	USD	Point-in-time
Common stock issued	`CommonStockSharesIssued`	7.07M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	7.08M	shares	Point-in-time
Common stock outstanding	`CommonStockSharesOutstanding`	7.07M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.32M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.17M	USD	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$208.88M	USD	Point-in-time
Marketable securities held in Trust Account	`AssetsHeldInTrustNoncurrent`	$207.75M	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`	$210.05M	USD	Point-in-time
Total Assets	`Assets`	$209.07M	USD	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$117.71K	USD	Point-in-time
Account payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$159.51K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$598.54K	USD	Point-in-time
Income taxes payable	`TaxesPayableCurrent`	$373.79K	USD	Point-in-time
Promissory note - related party	`NotesPayableRelatedPartiesClassifiedCurrent`	$425.00K	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`	$1.14M	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilities`	$851.00	USD	Point-in-time
Deferred tax liability	`DeferredTaxLiabilities`	$3.40K	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`	$5.99M	USD	Point-in-time
Total Liabilities	`Liabilities`	$6.18M	USD	Point-in-time
Common stock subject to possible redemption, 19,222,504 and 19,235,623 shares at redemption value as of March 31, 2019 and December 31, 2018, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$198.88M	USD	Point-in-time
Common stock subject to possible redemption, 19,222,504 and 19,235,623 shares at redemption value as of March 31, 2019 and December 31, 2018, respectively	`RedeemableNoncontrollingInterestEquityCommonCarryingAmount`	$198.08M	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 7,083,746 and 7,070,627 issued and outstanding (excluding 19,222,504 and 19,235,623 shares subject to possible redemption) as of March 31, 2019 and December 31, 2018, respectively	`CommonStockValue`	$7.08K	USD	Point-in-time
Common stock, $0.001 par value; 100,000,000 shares authorized; 7,083,746 and 7,070,627 issued and outstanding (excluding 19,222,504 and 19,235,623 shares subject to possible redemption) as of March 31, 2019 and December 31, 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`	$2.80M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$2.20M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.40M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$26.57K	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 Stockholders' Equity	`StockholdersEquity`	$5.00M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$209.07M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$210.05M	USD	Point-in-time

Income Statement 20 line items

Line Item	Tag	Value	Unit	Period
Operating costs	`CostsAndExpenses`	$226.22K	USD	1 Quarter
Operating costs	`CostsAndExpenses`	$4.73K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-226.22K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-4.73K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$1.23M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	-	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$16.17K	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Other income, net	`NonoperatingIncomeExpense`	$1.25M	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.02M	USD	1 Quarter
Income (loss) before provision for income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-4.73K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$227.29K	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$794.82K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-4.73K	USD	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	7.07M	shares	1 Quarter
Weighted average shares outstanding, basic and diluted (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	3.70M	shares	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`	$-0.02	USD	1 Quarter

Cash Flow Statement 42 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$794.82K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-4.73K	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	$1.23M	USD	1 Quarter
Interest earned on marketable securities held in Trust Account	`InvestmentIncomeInterest`	-	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	-	USD	1 Quarter
Unrealized gain on marketable securities held in Trust Account	`MarketableSecuritiesUnrealizedGainLoss`	$16.17K	USD	1 Quarter
Deferred tax provision	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred tax provision	`DeferredIncomeTaxExpenseBenefit`	$2.54K	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.23K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-41.80K	USD	1 Quarter
Accounts payable and accrued expenses	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	-	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	-	USD	1 Quarter
Income taxes payable	`IncreaseDecreaseInAccruedIncomeTaxesPayable`	$224.74K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.73K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-269.25K	USD	1 Quarter
Cash withdrawn from Trust Account	`PaymentsToAcquireMarketableSecurities`	$-119.12K	USD	1 Quarter
Cash withdrawn from Trust Account	`PaymentsToAcquireMarketableSecurities`	-	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$119.12K	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Proceeds from issuance of common stock to initial stockholders	`ProceedsFromIssuanceOfCommonStockToInitialStockholders`	-	USD	1 Quarter
Proceeds from issuance of common stock to initial stockholders	`ProceedsFromIssuanceOfCommonStockToInitialStockholders`	$-8.65K	USD	1 Quarter
Proceeds from promissory notes - related parties	`ProceedsOfPromissoryNoteRelatedPartyDebt`	-	USD	1 Quarter
Proceeds from promissory notes - related parties	`ProceedsOfPromissoryNoteRelatedPartyDebt`	$-300.00K	USD	1 Quarter
Payment of offering costs	`RepaymentsOfOfferingCosts`	-	USD	1 Quarter
Payment of offering costs	`RepaymentsOfOfferingCosts`	$108.50K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$200.15K	USD	1 Quarter
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-150.12K	USD	1 Quarter
Net Change in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$195.43K	USD	1 Quarter
Cash - Beginning	`Cash`	$338.83K	USD	Point-in-time
Cash - Beginning	`Cash`	$1.11M	USD	Point-in-time
Cash - Beginning	`Cash`	$143.40K	USD	Point-in-time
Cash - Beginning	`Cash`	$1.26M	USD	Point-in-time
Cash - Ending	`Cash`	$338.83K	USD	Point-in-time
Cash - Ending	`Cash`	$1.11M	USD	Point-in-time
Cash - Ending	`Cash`	$143.40K	USD	Point-in-time
Cash - Ending	`Cash`	$1.26M	USD	Point-in-time
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	$794.82K	USD	1 Quarter
Change in value of common stock subject to possible redemption	`ChangeInValueOfCommonStockSubjectToRedemption`	-	USD	1 Quarter
Deferred offering cost included in accrued offering costs	`DeferredOfferingCostIncludeInAccruedOfferingCosts`	-	USD	1 Quarter
Deferred offering cost included in accrued offering costs	`DeferredOfferingCostIncludeInAccruedOfferingCosts`	$15.00K	USD	1 Quarter

Stockholders Equity 12 line items

Line Item	Tag	Value	Unit	Period
Begining balance	`StockholdersEquity`	$26.57K	USD	Point-in-time
Begining balance	`StockholdersEquity`	$22.64K	USD	Point-in-time
Begining balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Begining balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Common stock issued to initial stockholders	`StockIssuedDuringPeriodValueNewIssues`	$8.65K	USD	1 Quarter
Common stock subject to possible redemption	`StockIssuedDuringPeriodValueConversionOfUnits`	$-794.82K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$794.82K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-4.73K	USD	1 Quarter
Ending balance	`StockholdersEquity`	$26.57K	USD	Point-in-time
Ending balance	`StockholdersEquity`	$22.64K	USD	Point-in-time
Ending balance	`StockholdersEquity`	$5.00M	USD	Point-in-time
Ending balance	`StockholdersEquity`	$5.00M	USD	Point-in-time

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