Company: LTRYW
Filing Date: 2025-04-21
Form Type: 10-K
Source: 0001641172-25-005487
Chunk: 1

Company: Lottery.com Inc.
Filing Date: 2025-04-21
Form: 10-K
Item: Item 1
Chunk 1
---
the Company has had minimal day-to-day operations in the United States and has primarily focused on restarting certain of its core businesses
(as described in more detail under “ Plans for Recommencement of Company Operations” below), and on completing and
filing its quarterly and annual reports with the SEC.

S& MI Ltd. (“ SportLocker. com”)

As reported on form 8-K filed with the
SEC on August 20, 2024, on August 14, 2024, Purchase
Price is the One Million Dollars USD ($1,000,000.00): Thefirst payment of $150,000 in restricted common stock (50,000
shares) of the Company is due and payable on September 1, 2024 (the “ Completion Date” and the “ First Issuance Date”.).
The remaining payments in restricted common stock to the shareholders of S& MI Ltd. by the Company will be made as follows: (i) a second
payment of $212,500 (70,833 shares) due on or before the 31 st st st st.

In the event that the closing price of the restricted stock units of
common shares of the Company to be issued to the shareholders of S& MI, Ltd. is lower than the Fixed Purchase Price on the six
(6) month anniversary of any issuance date of said shares (collectively the “ Anniversary Issuance Price”), then the
Fixed Purchase Price shall be adjusted downward to the volume-weighted average price (“ VWAP”) of the common stock for
the five (5) consecutive trading days immediately preceding the six (6) month anniversary date of said issuance date. Accordingly,
the Company shall be obligated to tender to the shareholders of S& MI, Ltd. Additional restricted stock units of common shares of
the Company to make up the difference between the Fixed Purchase Price and the Anniversary Issuance Price.

Sports. com

On March
7, 2024, Sports. com, a wholly owned subsidiary of the Company, announced by press release that it has launched the “ Sports. com App”.
The App (which is available for download for free from all major app stores) connects sports content with audiences worldwide. By uniting
a diverse community of sports enthusiasts across various genres, demographics, and countries, Sports. com plans to eliminate multiple cultural
barriers and foster a global sports community.

On March
28, 2024, Sports. com announced by press release that it has obtained the rights to