Company: LTRYW
Filing Date: 2025-11-20
Form Type: 10-Q
Source: 0001493152-25-024384
Chunk: 277

Company: Lottery.com Inc.
Filing Date: 2025-11-20
Form: 10-Q
Item: Part I, Item 2
Chunk 277
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 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
with Nasdaq Listing Rule 8510 (c)(3)(A) (the “Bid Price Listing Rule”). However, under the Listing Rules, the Company
was provided a 180-calendar day grace period to regain compliance

On
June 20, 2025 Lottery.com received a letter from Nasdaq determining that as a result of the Company’s common stock closing at a
bid price at or above $1.00 for twenty consecutive business days, the Company had regained compliance with the Bid Price Listing Rule.
Nasdaq has closed the matter.

On
October 16, 2025 Lottery.com received a letter from Nasdaq determining that, as a result of the
Company’s retroactive action to abandon the 2023 Employees’, Directors’ and Consultants Stock Issuance
and Option Plan and instead reflect that Ad Hoc grants were made pursuant to the 2021 Incentive Award Plan,
the Company has regained compliance with Listing Rule 5635(c). Nasdaq has closed the matter.

If
the Company’s securities are delisted from Nasdaq due to non-compliance with listing rules, it could be more difficult to buy and
sell the Company’s common stock and warrants or to obtain accurate quotations, and the price of the Company’s common stock
and warrants could suffer a material decline. Delisting could also impair the Company’s ability to raise capital and/or trigger
defaults and penalties under its outstanding agreements or securities. Further, even if we lose but are able to regain compliance with
Nasdaq listing requirements, there is no guarantee that we will be able to maintain our listing for any period of time.

Delisting
from Nasdaq could also result in negative publicity. Further, if