Company: LTRYW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011865
Chunk: 49

Company: Lottery.com Inc.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 2
Chunk 49
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 the date the second payment
is due. In addition, the Company will nominate an individual (at a later date) from WATG to act as a dedicated consultant to the Company
for the purpose of expanding its brand, ticket sales and global operations. In exchange, the Company shall own a non-exclusive perpetual
single use license for WATG’s Lottery Player & Account Management Software (“ PAM”) and WATG shall provide its full
spectrum of iGaming solutions to the Company to manage its global growth strategy. The parties shall co-operate and collaborate with
one another’s businesses and shall enter a more definitive agreement at a later date.

As
reported on form 8-K filed with the SEC on August 20, 2024,

The
first payment of $150,000 in restricted common stock (50,000 shares) of the Company is due and payable not later than the first business
date following the Completion Date. The remaining payments in restricted common stock to the shareholders of S& MI Ltd. by the Company
will be made as follows:

(i)
a second payment of $212,500 (70,833 shares) due on or before one hundred and twenty-one (121) days following the Closing Date; (ii)
a third payment, of $212,500 (70,833 shares) due on or before two hundred and twelve (212) days following the Completion Date; (iii)
a fourth payment of $212,500 (70,833 shares) due on or before three hundred and one (301) days following the Closing Date and (vi) a
final and fifth payment of $212,500 (70,834 shares) due on or before three hundred and ninety-six (396) days following the Closing Date.
The acquisition closed on September 1, 2024 and the balance sheet as of September 30, 2024 and results of operations for the month of
September have been included in the consolidated financial statements presented in this report.

   7  

In
addition, the Company agreed to make available to the business of SportLocker. com, cash, media credits or combination thereof over the
twelve months following the Closing Date as additional capital investment into the business plan, to facilitate brand awareness, user
acquisition and general performance marketing and promotion, influencer and subscription campaigns and branding activities of S& MI’s
streaming and social engagement, subject to the Company successfully raising a minimum of new capital.

As
part of the transaction