Company: LTRYW
Filing Date: 2025-10-15
Form Type: 10-Q/A
Source: 0001493152-25-018121
Chunk: 81

Company: Lottery.com Inc.
Filing Date: 2025-10-15
Form: 10-Q/A
Chunk 81
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 over financial reporting.

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<div align='center'>PART II – OTHER INFORMATION</div>

Item 1. Legal Proceedings.

The Company is from time to time
a party to various lawsuits, claims and other legal proceedings that arise in the ordinary course of business. In addition, the Company
is a party to several material legal proceedings, which are described below. The outcome of litigation is inherently uncertain. If one
or more legal matters were resolved against the Company in a reporting period for amounts in excess of management’s expectations,
the Company’s financial condition and operating results for that reporting period could be materially adversely affected.

The Company is from time to time a party to various
lawsuits, claims and other legal proceedings that arise in the ordinary course of business. In addition, the Company is a party to several
material legal proceedings, which are described below. The outcome of litigation is inherently uncertain. If one or more legal matters
were resolved against the Company in a reporting period for amounts in excess of management’s expectations, the Company’s
financial condition and operating results for that reporting period could be materially adversely affected.

J. Streicher

On July 29, 2022, the Company filed its original Verified Complaint for Breach of Contract and Specific Performance (the “Streicher Complaint”) against J. Streicher Financial,
LLC (“Streicher”) in the Court of Chancery of the State of Delaware (the “Chancery Court”), styled AutoLotto, Inc. dba Lottery.com v. J. Streicher Financial, LLC (Case No. 2022-0661-MTZ). In the Streicher Complaint, the Company alleged that
Streicher breached the contract entered into by the parties on March 9, 2022 and demanded that Streicher return $16,500,000 it owes to
the Company. On September 26, 2022, the Chancery Court entered an order in favor of the Company, Granting with Modifications Company’s Motion for Partial Summary Judgment in the amount of $16,500,000 (the “Streicher Judgment”). On October 27, 2022, the
Chancery Court further awarded the Company $397,037 in attorney’s fees (the “Fee Order”). On November 15, 2022, the
Company initiated efforts against Streicher to seek collections on the Judgment. On December 8, 2022, the Company’s prior attorney
Skadden, Arps, Slate