Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 129

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 129
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    Contractual  
    Intrinsic 

    Shares  
    Price  
    Life (years)  
    Value 
  
    Outstanding at December 31, 2024 
     2,479,478  
     0.29  
     3.74  
     1,893,794 
  
    Granted 
     -  
     -  
     -  

    Exercised 
     -  
     -  
     -  

    Forfeited/cancelled 
     -  
     -  
     -  

    Outstanding at June 30, 2025 
     2,479,878  
    $0.29  
     3.49  
    $2,710,316 

     F-21 

Earnout
Shares

As
detailed in Note 4 - as part of the TDAC Combination as of December 31, 2021 a total of 5,000,000 Earnout Shares were eligible
for issuance until December 31, 2022. Conditions for the earnout were not met and the potential earnout shares were forfeited on December
31, 2022.

Note
11. Stock-based Compensation

Expense
2015 Stock Option Plan

Prior
to the closing of the Business Combination, AutoLotto had the AutoLotto, Inc. 2015 Stock Option/Stock Issuance Plan (the “2015
Plan”) in place. Under the 2015 Plan, incentive stock options may be granted at a price not less than fair market value of the
common stock (110% of fair value to holders of 10% or more of voting stock). If the Common Stock is at the time of grant listed on any
Stock Exchange, then the Fair Market Value shall be the closing selling price per share of Common Stock on the date in question on the
Stock Exchange, as such price is officially quoted in the composite tape of transactions on such exchange and published in The Wall Street
Journal. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing
selling price on the last preceding date for which such quotation exists. If the Common Stock is at the time not listed on any Stock
Exchange, then the Fair Market Value shall be determined by the Board of Directors or the Committee acting in its