Company: LTRYW
Filing Date: 2025-05-14
Form Type: S-1/A
Source: 0001641172-25-010091
Chunk: 179

Company: Lottery.com Inc.
Filing Date: 2025-05-14
Form: S-1/A
Chunk 179
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 be dependent upon our revenues and earnings, if any, capital requirements and general financial condition as well as general business conditions. The payment of any cash dividends will be within the discretion of the Board at such time.

Recent Sales of Unregistered Securities; Use of Proceeds from Registered Offerings

As reported on form 8-K filed with the SEC on February 6, 2024, on December 6, 2023, Univest Securities, LLC (the “Univest”), agreed to act as placement agent in connection with the Company’s offering (“Offering”) of convertible debt at a Conversion Price of 125% of the closing price on the day prior to the Issuance Date (date of funding) with warrant coverage at 50% up to $1,000,000; including convertible promissory notes (each, a “Convertible Note” or collectively, the “Convertible Notes”), and a common stock purchase warrants (each, a “Warrant”, or collectively, the “Warrants”) to purchase shares of common stock of the Company, par value $0.001 per share (the “Common Stock”) which include specific registration rights (“Registration Rights”), directly to one or more investors (each, an “Investor” and, collectively, the “Investors”) through the Univest. If the “Conversion Price” on the six (6) month anniversary of the Issuance Date is lower than the Conversion Price on the Issuance Date, then the Conversion Price shall be adjusted downward to the VWAP of the Common Stock for the five (5) consecutive Trading Days immediately preceding the six (6) month anniversary date.

Additional
sales of unregistered securities with certain option holders and investors not placed by Univest, in the aggregate amount of $650,000
occurred during the calendar year of 2024. The terms for these investors was identical to those offered in the Univest placement.

Effective
November 13, 2024 the Company issued 512,662 shares to Generating Alpha, LLC as a commitment fee.

Effective January 28, 2025 the Company issued 100,000 shares to Milton Richard Cutler in consideration for legal services.

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<div align='center'>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS</div>

The following table shows information with respect to the beneficial ownership of our common stock as of December 31, 2024, for:

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