Company: LTRYW
Filing Date: 2025-04-21
Form Type: 10-K
Source: 0001641172-25-005487
Chunk: 8

Company: Lottery.com Inc.
Filing Date: 2025-04-21
Form: 10-K
Item: Item 1
Chunk 8
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458,370 shares of common stock issuable upon exercise of
outstanding warrants and (iii) 1,906,693 prefunded warrants (together the “ Commitment Fee Warrant Shares”) and (iv) 512,662
shares of common stock issued to the Investor as a commitment fee (the “ Commitment Fee Shares”) upon the execution of a stock
purchase agreement dated November 13, 2024 (the “ Stock Purchase Agreement”).

On April 15, 2025, the Company filed Amendment No. 1 to Form S-1 forthe
purpose of including a Delayed Effective Date disclosure and to update and file certain Exhibits.

The
Form S-1 filed by the Company on April 11, 2025 has yet to be deemed effective by the SEC.

   4  

Nasdaq
Listing

The Company
currently trades on the Nasdaq Stock Exchange under the symbol, LTRY, and its warrants trade on the Nasdaq Stock Exchange under the
symbol, LTRYW. Although the Company is currently in compliance with Nasdaq listing standards, the Company has repeatedly gone
into periods of non-compliance, most frequently as a result of late quarterly or annual filings which are subsequently filed. There
can be no assurance by the Company that such periodic episodes of non-compliance will not recur, nor that the Company will be able
to sustain meeting its Nasdaq listing requirements in order to maintain its Nasdaq listings on a long-term basis.

2022 Loan Agreement with Woodford Eurasia Assets,
Ltd.

On December 7, 2022, the Company
entered into a loan agreement with Woodford Eurasia Assets, Ltd. (“ Woodford”), (the “ Woodford Loan Agreement”),
pursuant to which Woodford agreed to provide the Company with up to $52.5 million, subject to certain conditions and requirements. Pursuant
to such Woodford Loan Agreement the Company received $798,351 by December 31, 2024. Woodford failed to meet its obligations under the
Woodford Loan Agreement and the Company removed itself from any further obligation under Agreement or association with Woodford. Woodford
subsequently filed a complaint in the High Court of Justice in London chancery Division. October 16, 2023, The High Court of Justice in
London Chancery Division (“the Court”) dismissed an application for injunctive relief initiated by Woodford against the Company.
(Case: FL-2023-000