Company: LTRYW
Filing Date: 2025-04-22
Form Type: 10-K/A
Source: 0001641172-25-005663
Chunk: 4

Company: Lottery.com Inc.
Filing Date: 2025-04-22
Form: 10-K/A
Chunk 4
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 not possible to predict all such risk factors, nor can we assess the impact of all such risk factors on our business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements attributable to Lottery.com or persons acting on its behalf are expressly qualified in their entirety by the foregoing cautionary statements. Lottery.com Inc. undertakes no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law and regulation.

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<div align='center'>PART I</div>

Item 1. Business.

Overview and Recent Developments

We were originally formed as Trident Acquisition Corp., a Delaware corporation on March 17, 2016, for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization, recapitalization or other similar business combination with one or more businesses. On October 29, 2021, we consummated a business combination (the “Business Combination”) with AutoLotto, Inc. (“AutoLotto”). Following the closing of the Business Combination (the “Closing”) we changed our name from “Trident Acquisitions Corp.” to “Lottery.com Inc.” and the business of AutoLotto became our business. Unless the context requires otherwise, references to the “Company,” “we,” “us,” “our,” “Lottery.com” and “Lottery.com Inc.” refer to Lottery.com Inc. and its consolidated subsidiaries.

On July 28, 2022, the Board determined that the Company did not have sufficient financial resources to fund its operations in the United States or pay certain existing obligations of the U.S. public company, including its payroll and related obligations.

The following day, on July 29,
2022, the Company effectively ceased U.S. operations (the “2022 Operational Cessation”), furloughed the majority of its U.S.
employees and suspended its U.S. lottery game sales meaning the U.S. company would be devoid of future revenues until operations resumed
(subsidiary operations of Aganar and JuegaLotto and Tinbu LLC in the U.S. were unaffected and continued operations, including lottery
sales outside the U.S. and generation of revenue). As a result of the