Company: LTRYW
Filing Date: 2025-10-15
Form Type: 10-Q/A
Source: 0001493152-25-018121
Chunk: 3

Company: Lottery.com Inc.
Filing Date: 2025-10-15
Form: 10-Q/A
Chunk 3
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 have exposed us to a number of legal proceedings, investigations and inquiries, resulted in significant legal and other expenses, required 
 significant time and attention from our senior management, among other adverse impacts.                                                    |

| ● | We and certain of our former officers are, and in the future, we or our officers and directors may become,                                         
 the subject of legal proceedings, investigations and inquiries by governmental agencies with respect to the findings of the Internal Investigation 
 and other matters, which could have a material adverse effect on our reputation, business, financial condition, cash flows and results             
 of operations, and could result in additional claims and material liabilities.                                                                     |

| ● | We have been named as a defendant in a number of lawsuits filed by purchasers of our securities, including class action lawsuits that 
 could have a material adverse impact on our business, financial condition, results of operation and cash flows, and our reputation.   |

| ● | Matters relating to or arising from the restatement and the Internal Investigation, including adverse                                 
 publicity and potential concerns from our users, customers or others with whom we do business, have had and could continue to have an 
 adverse effect on our business and financial condition.                                                                               |

| ● | In July 2022, we furloughed the majority of our employees and suspended our lottery game sales operations                                   
 after determining that we did not have sufficient financial resources to fund our operations or pay certain existing obligations, including 
 our payroll and related obligations. As a result, we may not be able to continue as a going concern.                                        |

| ● | We need additional capital to, among other things, support and restart our operations, re-hire employees                                    
 and pay our expenses. Such capital may not be available on commercially acceptable terms, if at all. If we do not receive the additional    
 capital, we may be forced to curtail or abandon our plans to recommence our operations and we may need to permanently cease our operations. |

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| ● | If we fail to implement and maintain an effective system of internal controls, we may be unable to accurately                           
 report our results of operations, meet our reporting obligations or prevent fraud, and investor confidence and the trading price of our 
 common stock and warrants may be materially and adversely affected.                                                                     |

| ● | The circumstances that led to the failure to file our annual report and quarterly reports on time, and our efforts to investigate, 
 assess and remediate those matters have caused and may continue to cause substantial delays