Company: LTRYW
Filing Date: 2025-04-25
Form Type: S-1/A
Source: 0001641172-25-006093
Chunk: 165

Company: Lottery.com Inc.
Filing Date: 2025-04-25
Form: S-1/A
Chunk 165
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, and the transactions involving them described under the heading “ Certain Relationships and Related Party Transactions, and Director Independence.”

Board Committees

Our Board has three standing committees: an Audit Committee a Compensation Committee, and a Nominating Committee. Each of the committees reports to the Board as it deems appropriate and as the Board may request. The composition, duties and responsibilities of these committees are set forth below. In the future, our Board may establish other committees, as it deems appropriate, to assist it with its responsibilities.

Audit Committee

There are three members of our Board who serve as members of our Audit Committee, Messrs. Jordan, Gooding and Hassan. Mr. Jordan is the chairman of our Audit Committee. All members of the Audit Committee are “independent” in accordance with the Nasdaq Rules (as defined below) and rules of the U.S. Securities and Exchange Commission (the “SEC”) applicable to boards of directors in general and Audit Committee members in particular. The Board has determined that each member of the Audit Committee is “financially literate” within the meaning of the Nasdaq Rules because each member is able to read and understand fundamental financial statements, including the Company’s balance sheet, income statement and cash flow statement. In addition, the Board has determined that Mr. Jordan qualifies as an “audit committee financial expert” as defined by Item 407(d) of Regulation S-K, and therefore, also satisfies the “financial sophistication” requirement in accordance with Nasdaq Rule 5605(c)(2)(A). The Board reached its conclusion as to Mr. Jordan’s’ qualifications based on, among other things, his business background.

The duties and responsibilities of the Audit Committee include:

| ● | those                                                                                                                                   
 duties and responsibilities delegated to it by the Board, including overseeing our financial reporting policies, our internal controls, 
 and our compliance with legal and regulatory requirements applicable to financial statements and accounting and financial reporting     
 processes;                                                                                                                              |
| ● | being                                                                                                                                   
 directly responsible for the appointment, retention, replacement and oversight of our independent registered public accounting firm     
 and reviewing and evaluating its qualifications, performance and independence;                                                          |
| ● | pre-approving                                                                                                                           
 the audit and non-audit services and the payment of compensation to the independent registered public accounting firm;                  |
| ● | reviewing                                                                                                                               
 reports from, and material written communications between, management and the independent registered public accounting firm, including  
 with respect to issues as to the adequacy of the Company’s internal controls;                                                           |
|