Company: LTRYW
Filing Date: 2025-04-09
Form Type: 10-K/A
Source: 0001641172-25-003412
Chunk: 87

Company: Lottery.com Inc.
Filing Date: 2025-04-09
Form: 10-K/A
Chunk 87
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 of action arising under the Securities Act. Notwithstanding the foregoing, this provision in the Charter does not apply to claims seeking to enforce any liability or duty created by the Exchange Act since Section 27 of the Exchange Act creates exclusive federal jurisdiction over all suits brought to enforce any duty or liability created by the Exchange Act or the rules and regulations thereunder.

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Although we believe this provision benefits us by providing increased consistency in the application of law in the types of lawsuits to which it applies, a court may determine that this provision is unenforceable, and to the extent it is enforceable, the provision may have the effect of discouraging lawsuits against our directors and officers.

Anti-takeover provisions contained in our Charter and Bylaws, as well as provisions of Delaware law, could impair a takeover attempt.

Our Charter contains provisions that may discourage unsolicited takeover proposals that stockholders may consider to be in their best interests. The Company is subject to anti-takeover provisions under Delaware law which could delay or prevent a change of control. These provisions are intended to avoid costly takeover battles, reduce our vulnerability to a hostile change of control and enhance the ability of our Board to maximize stockholder value in connection with any unsolicited offer to acquire us. However, these provisions may make more difficult the removal of management, may have an anti-takeover effect and may delay, deter or prevent a merger or acquisition of us by means of a tender offer, a proxy contest or other takeover attempt that a stockholder might consider in its best interest, including those attempts that might result in a premium over the prevailing market price for our securities. These provisions provide for, among other things:

| ● | authorized                                                                                                                               
 but unissued shares of common stock and preferred stock, which may be used for a variety of corporate finance transactions, acquisitions 
 and employee benefit plans and the existence of which could make more difficult or discourage an attempt to obtain control of the        
 Company by means of a proxy contest, tender offer, merger or otherwise (the DGCL does not require stockholder approval for any issuance  
 of authorized shares);                                                                                                                   |
| ● | stockholder                                                                                                                              
 action may not be by written consent (the DGCL provides that unless otherwise provided in the charter, any action of a meeting of        
 stockholders may be taken without a meeting and prior notice by signed written consent of stockholders having the minimum number         
 of votes that would be necessary to take such action at a meeting at which all shares entitled to vote thereon were present and