Company: LTRYW
Filing Date: 2025-10-15
Form Type: 10-Q/A
Source: 0001493152-25-018121
Chunk: 5

Company: Lottery.com Inc.
Filing Date: 2025-10-15
Form: 10-Q/A
Chunk 5
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 rights required to fulfill contractual 
 obligations required for the operation of our business.                                                                              |

| ● | The effectiveness of our transition and compliance with the regulatory and other requirements of being a newly public company. |

| ● | We are currently not in compliance                                                                                                   
 with the continued listing standards of Nasdaq and we may not be able to regain compliance with Nasdaq’s continued listing standards 
 in the future.                                                                                                                       |

| ● | Limited liquidity and trading of our securities. |

| ● | Lenders may not loan us the amounts they agreed to under existing Loan Agreements. |

| ● | Our obligations under the Loan Agreement (as defined herein) are secured by a first priority security interest in substantially all 
 of our assets and if we were to default, they could force us to curtail or abandon our business plans and operations.               |

| ● | The issuance and sale of common stock upon conversion of the amounts owed or upon exercise of the warrants issued to Woodford, UCIL,        
 or Univest (as defined herein) under their Loan Agreements may depress the market price of our common stock and cause substantial dilution. |

| ● | We currently owe a significant amount of money under our Loan Agreements, which we may not be able to repay. |

The risks described herein or
in the “Risk Factors” sections of our other public filings referenced above are not exhaustive. Other sections of this Report
describe additional factors that could adversely affect our business, financial condition or results of operations. New risk factors emerge
from time to time and it is not possible to predict all such risk factors, nor can we assess the impact of all such risk factors on our
business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained
in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on
these statements, which speak only as of the date hereof. All forward-looking statements attributable to us or persons acting on our behalf
are expressly qualified in their entirety by the foregoing cautionary statements. We undertake no obligations to update or revise publicly
any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

<div align='center'>iv

PART I – FINANCIAL INFORMATION</div>

Item 1. Financial Statements

| Condensed Consolidated Balance Sheets as of March 31, 2025 (unaudited) and December 31,