Company: LTRYW
Filing Date: 2025-04-21
Form Type: 10-K
Source: 0001641172-25-005487
Chunk: 90

Company: Lottery.com Inc.
Filing Date: 2025-04-21
Form: 10-K
Item: Item 1A
Chunk 90
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 and all rights of such Disqualified Holder (other than the right to receive
the redemption price) shall cease.

The
existence of the redemption rights set forth in our Charter may result in the value of the Redeemable Securities being less than they
would without the existence of such rights, may prevent the sale or transfer of such Redeemable Securities, and may result in a holder
of Redeemable Securities receiving less value for such Redeemable Securities upon the redemption thereof as they would, had such Redeemable
Securities not been redeemed.

A
court may find that part or all of the provisions included in our Charter pertaining to the redemption right with respect to capital
stock held by any stockholders who are deemed to be “disqualified” or “unsuitable” holders is not enforceable,
either in general or as to a particular fact situation.

Under
the laws of the State of Delaware, our jurisdiction of incorporation, a corporation may provide in its certificate of incorporation for
the number of securities that may be owned by any person or group of persons for the purpose of maintaining any statutory or regulatory
advantage or complying with any statutory or regulatory requirements under applicable law. Delaware law provides that ownership limitations
with respect to shares of our stock issued prior to the effectiveness of our Charter will be effective against (i) stockholders with
respect to shares that were voted in favor of the proposed provision; and (ii) purported transferees of shares that were voted for the
proposed provision if (a) the transfer restrictions are conspicuously noted on the certificate(s) representing such shares, or (b) the
transferee had actual knowledge of the transfer restrictions (even absent such conspicuous notation). The shares of common stock, par
value $0.001 per share issued after the effective date of our Charter were issued with the ownership limitation conspicuously noted on
the certificate(s) representing such shares and therefore under Delaware law such newly issued shares will be subject to the transfer
restriction. We have also disclosed such restrictions to persons holding our stock in uncertificated form.

We
cannot assure you that the provision pertaining to the redemption right with respect to capital stock held by any stockholders who are
deemed to be “disqualified” or “unsuitable” holders is enforceable under all circumstances, particularly against
stockholders who did not vote in favor of the proposed provision, who do not have notice of the ownership limitations at the time they
subsequently acquire their shares, or who acquire shares