Company: LTRYW
Filing Date: 2025-01-30
Form Type: PRE 14A
Source: 0001493152-25-004309
Chunk: 20

Company: Lottery.com Inc.
Filing Date: 2025-01-30
Form: PRE 14A
Chunk 20
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 the expected impact of the Reverse Stock Split on the trading 
 market for our Common Stock in the short- and long-term;                                                                               |
| ● | the                                                                                                                                    
 continued listing requirements for our Common Stock on Nasdaq;                                                                         |
| ● | which                                                                                                                                  
 Reverse Stock Split ratio would result in the least administrative cost to us; and                                                     |
| ● | prevailing                                                                                                                             
 general market and economic conditions.                                                                                                |

The failure of our stockholders to approve this Proposal 2 could have serious, adverse effects on us and our stockholders. If we do not meet the conditions set forth in the June 8 thLetter, including implementing the Reverse Stock Price, to the extent required, but August 17, 2023, we may be delisted from Nasdaq. If Nasdaq delists the Common Stock, our shares may then trade on the OTC Bulletin Board or other small trading markets, such as the pink sheets. In that event, the Common Stock could trade thinly as a microcap or penny stock, adversely decrease to nominal levels of trading and be avoided by retail and institutional investors, resulting in the impaired liquidity of our shares.

Our Board reserves the right to abandon the Reverse Stock Split without further action by our stockholders at any time before the effectiveness of our Certificate of Amendment, even if the Reverse Stock Split has been authorized by our stockholders. By voting in favor of the Reverse Stock Split, you are expressly authorizing our Board to determine not to proceed with, and abandon, the Reverse Stock Split if it should so decide.

Effect on Outstanding Common Stock and Authorized Common Stock

After the effective date of any Reverse Stock Split that our Board elects to implement, each stockholder will own a reduced number of shares of Common Stock. The Reverse Stock Split will be effected simultaneously for all issued and outstanding shares of Common Stock and the Reverse Stock Split ratio will be the same for all issued and outstanding shares of Common Stock. Any Reverse Stock Split will affect all of our stockholders uniformly and will not affect any stockholder’s percentage ownership interests in the Company, except to the extent that the Reverse Stock Split results in any of our stockholders owning a fractional share as described below. Voting rights and other rights and preferences of the holders of the Common Stock will not be affected by a Reverse Stock Split (other than as a result of the payment of cash in lieu of fractional shares). For example, a holder of 2% of the voting power of the outstanding shares of Common Stock immediately prior to a Reverse Stock Split would continue to hold