Company: LTRYW
Filing Date: 2025-10-15
Form Type: 10-Q/A
Source: 0001493152-25-018121
Chunk: 91

Company: Lottery.com Inc.
Filing Date: 2025-10-15
Form: 10-Q/A
Chunk 91
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 to time in our future filings
with the SEC. Any of these factors could result in a significant or material adverse effect on our results of operations or financial
condition. Additional risk factors not presently known to us or that we currently deem immaterial may also impair our business or results
of operations.

The ultimate effect of the Reverse Stock Split on the market price of our common stock cannot be predicted with any certainty and may decrease the liquidity of our common stock and magnify any decrease in our overall market capitalization.

The ultimate effect of the Reverse
Stock Split on the market price of our common stock cannot be predicted with any certainty, and we cannot assure you that the Reverse
Stock Split will result in any or all of the expected benefits, including enabling the Company to regain compliance with the Nasdaq listing
standards, for any meaningful period of time, or at all. While we expect that the reduction in the number of outstanding shares of common
stock will proportionally increase the market price of our common stock, we cannot assure you that the Reverse Stock Split will increase
the market price of our common stock by a multiple of the Reverse Stock Split ratio or result in any permanent or sustained increase in
the market price of our common stock. The market price of our common stock depends on multiple factors, many of which are unrelated to
the number of shares outstanding, including our business and financial performance, general market conditions and prospects for future
success, any of which could have a counteracting effect to the Reverse Stock Split on the per share price.

In addition, the Reverse Stock
Split also reduced the total number of outstanding shares of common stock, which may lead to reduced trading for our common stock. As
a result of a lower number of shares outstanding, the market for our common stock may also become more volatile. The Reverse Stock Split
also increased the number of stockholders who own “odd lots” of less than 100 shares of common stock. A purchase or sale of
less than 100 shares of common stock (an “odd lot” transaction) may result in incrementally higher trading costs through certain
brokers, particularly “full service” brokers. Therefore, those stockholders who own fewer than 100 shares of common stock
following the Reverse Stock Split may be required to pay higher transaction costs if they sell their common stock.

Finally, the decline in the per
share price of our common stock and the decline in our overall market capitalization may be greater following the Reverse Stock Split
than would have occurred in the