Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 281

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 281
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 reported on a Form 8-K on July 3, 2025 that the only Incentive
Award Plan for the Company  is “The Lottery.com 2021 Incentive Award Plan” (the “2021 Plan”) which was
approved by the shareholders and registered by the Company on Form S-8 dated April 6, 2022, and that all Awards granted from October
2023 forward have been granted in accordance with the 2021 Plan.

As
reported on form 8-K filed on May 9, 2025, the Company received written notice from Nasdaq indicating that its bid price for its common
stock had closed at less than $1 per share over the previous 30 consecutive business days, and as a result, the Company did not comply
with Nasdaq Listing Rule 8510©(3)(A) (the “Bid Price Listing Rule”). However,
under the Listing Rules, the Company was provided a 180-calendar day grace period to regain compliance

On
June 20, 2025 Lottery.com received a letter from Nasdaq determining that as a result of the Company’s common stock closing at a
bid price at or above $1.00 for twenty consecutive business days, the Company had regained compliance with the Bid Price Listing Rule.
Nasdaq has closed the matter.

If
the Company’s securities are delisted from Nasdaq due to non-compliance with listing rules, it could be more difficult to buy
and sell the Company’s common stock and warrants or to obtain accurate quotations, and the price of the Company’s common
stock and warrants could suffer a material decline. Delisting could also impair the Company’s ability to raise capital and/or
trigger defaults and penalties under its outstanding agreements or securities. Further, even if we lose but are able to regain
compliance with Nasdaq listing requirements, there is no guarantee that we will be able to maintain our listing for any period of
time.

Delisting
from Nasdaq could also result in negative publicity. Further, if we are delisted, we would also incur additional costs under state blue
sky laws in connection with any sales of our securities. These requirements could severely limit the market liquidity of our common stock
and/or warrants and the ability of our stockholders to sell our common stock and/or warrants in the secondary market. If our common stock
and/or warrants are delisted by Nasdaq, our common stock and/or warrants may be eligible to trade on an over-the-counter