Company: LTRYW
Filing Date: 2025-11-20
Form Type: 10-Q
Source: 0001493152-25-024384
Chunk: 229

Company: Lottery.com Inc.
Filing Date: 2025-11-20
Form: 10-Q
Item: Part II, Item 8
Chunk 229
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and restarting operations on a limited basis in order to stage Lottery.com for growth in FY 2025. The cornerstone of the Company’s
operational progress for FY 2025 has been driven by technology, product and service/capability enhancements. This progress is driven
primarily by the execution of the Company’s “Buy-and-Build” strategy which identifies revenue-producing assets which
have the capability to accelerate the Company’s operations in the sports, entertainment, and gaming markets.

This
Report is reflective of the Company’s commitment to transparency, integrity, and responsible corporate governance. The investment
commitments from United Capital Investments London Limited and Generating Alpha outlined in this report are evidence of investor belief
in Management’s capability to resume core lottery and gaming operations, launch additional international lottery operations, and
expand operations in Mexico and offerings of sweepstakes, as well as successful monetization of Sports.com, entrance into the entertainment
market, and expand the Company’s brand across the globe.

Nasdaq
Listing

On
May 2, 2025, Lottery.com Inc. (the “Company” or “Lottery.com”) received a letter from the Nasdaq Listings Qualifications
Staff (“Nasdaq Staff”) Indicating they had determined that the Company failed to comply with Nasdaq’s shareholder approval
requirements set forth in Listing Rule 5635(c) (the “Approval Rule”).

The
Company was notified that it was required to obtain shareholder approval under the Approval Rule prior to the establishment of a 2023
Employees’ Directors’ and Consultants Stock Issuance and Option Plan (the “2023 Plan”) and the Ad Hoc Grants
and the shares issued in connection therewith. The Company 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