Company: LTRYW
Filing Date: 2025-04-22
Form Type: 10-K/A
Source: 0001641172-25-005663
Chunk: 35

Company: Lottery.com Inc.
Filing Date: 2025-04-22
Form: 10-K/A
Chunk 35
---
 The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Accordingly, the financial statements do not include any adjustments relating to the recoverability of assets and classification of liabilities that might be necessary should we be unable to continue as a going concern. The financial statements included herein also include a going concern footnote.

We need additional capital to, among other things, support and restart our U.S. operations, re-hire or hire employees and engage contractors and pay our expenses. Such capital may not be available on commercially acceptable terms, if at all. If we do not receive the additional capital, we may be forced to curtail or abandon our plans to recommence our operations and we may need to permanently cease our operations.

We need to raise capital to,
among other things, support and restart our U.S. operations, re-hire or hire employees, engage contractors and pay our expenses. The most
likely source of future funds presently available to us will be through future borrowings under one or more loan agreements or through
the sale of equity or debt. We may have difficulty obtaining additional funding, and we may have to accept terms that would adversely
affect our stockholders. For example, the terms of any future financings, similar to the UCIL Loan Agreement, may impose restrictions
on the manner in which we conduct our business, including our ability to pay dividends. Additionally, lending institutions or private
investors may impose restrictions on a future decision by us to make capital expenditures, acquisitions or significant asset sales. Obtaining
additional financing involves certain risks, including:

| ● | additional                                                                                                                              
 equity or debt financing may not be available to us on satisfactory terms, if at all;                                                   |
| ● | if                                                                                                                                      
 we raise additional funds by issuing equity, equity-linked securities or debt securities, those securities may have rights, preferences 
 or privileges senior to the rights of our currently issued and outstanding equity or debt, and our existing stockholders may experience 
 dilution;                                                                                                                               |
| ● | loans                                                                                                                                   
 or other debt instruments may have terms or conditions, such as interest rate, restrictive covenants and control or revocation          
 provisions, which are not acceptable to management or our Board;                                                                        |
| ● | we                                                                                                                                      
 may not have sufficient funds to repay our debt, which could lead us to default on our obligations; and                                 |
| ●