Company: LTRYW
Filing Date: 2025-11-20
Form Type: 10-Q
Source: 0001493152-25-024384
Chunk: 58

Company: Lottery.com Inc.
Filing Date: 2025-11-20
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 shares of common stock as a result of the Reverse Stock Split received a cash payment
in lieu of receiving fractional shares. In addition, as a result of the Reverse Stock Split, proportionate adjustments will be made to
the number of shares of common stock underlying the Company’s outstanding equity awards, the number of shares issuable upon the
exercise of the Company’s outstanding warrants and the number of shares issuable under the Company’s equity incentive plans
and certain existing agreements, as well as the exercise, grant and acquisition prices of such equity awards and warrants, as applicable.
The Reverse Stock Split was approved by the Company’s stockholders at the Company’s 2025 Annual Meeting of Stockholders on
February 20, 2025 and was subsequently approved by the Board of Directors on August 13, 2025.

Previously,
on August 9, 2023, the Company amended its Charter to implement, effective at 5:30 p.m., Eastern time, a 1-for-20 Reverse Stock Split.
At the effective time of the Reverse Stock Split, every 20 shares of common stock either issued and outstanding or held as treasury stock
were automatically combined into one issued and outstanding share of common stock, without any change in the par value per share. Stockholders
who would have otherwise been entitled to fractional shares of common stock as a result of the Reverse Stock Split received a cash payment
in lieu of receiving fractional shares. In addition, as a result of the Reverse Stock Split, proportionate adjustments will be made to
the number of shares of common stock underlying the Company’s outstanding equity awards, the number of shares issuable upon the
exercise of the Company’s outstanding warrants and the number of shares issuable under the Company’s equity incentive plans
and certain existing agreements, as well as the exercise, grant and acquisition prices of such equity awards and warrants, as applicable.
The Reverse Stock Split was approved by the Company’s stockholders at the Company’s 2023 Annual Meeting of Stockholders on
August 7, 2023, and was subsequently approved by the Board of Directors on August 7, 2023.

The
effects of the Reverse Stock Split have been reflected in this Quarterly Report on Form 10Q for all periods presented.

 4 

International
Expansion

In
June 2021, we closed the acquisition of Global Gaming, which holds 80% of the equity of each of Aganar and JuegaLotto. Aganar operates
in the licensed