Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 219

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part II, Item 8
Chunk 219
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F-20 

If
the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the
Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. These warrants cannot be net cash
settled by the Company in any event.

After giving effect to the Business Combination,
as of March 31, 2025 there were Public Warrants outstanding for the issuance of 20,125,000 shares of common stock of the Company, which
total includes previously issued warrants of AutoLotto, now warrants of Lottery.com Inc. In addition other warrants from 2015 and
2018 are exercisable for the purchase of an aggregate of 19,784 shares of common stock of the Company, the majority of which will
expire in October of 2025.

An adjustment was made to the Company’s
warrants based on the 1-for-20 split ratio. The adjustment was made automatically. The number of shares of common stock issued subject
to stock options, warrants, or convertible securities was automatically decreased by the split ratio and the exercise price or conversion
ratio will automatically be proportionately increased by the same split ratio.

Private
Warrants

Private
warrants of TDAC issued before the business combination were forfeited and did not transfer to the surviving entity.

Common
Stock Warrants

The
Company did not issue any warrants during the three months ended June 30, 2025. During the year ended December 31, 2024, the Company
issued 458,370 warrants to a third-party consulting firm and 1,996,713 warrants as part of the commitment fee pursuant to the Stock
Purchase Agreement with Generating Alpha. The 24,415 outstanding warrants issued prior to January 1, 2023 are fully vested and have a
weighted average remaining contractual life of 2.7 years. The 2.5 million warrants issued during 2024 are fully vested and have
a weighted average remaining contractual life of 3.5 years. The Company did not incur any expense for the three months ended June
30, 2025 and recorded expenses of $693,397 for the year ended December 31, 2024. 

Schedule
of Common Stock Warrant

    Weighted  

    Weighted  
    Average  

    Average  
    Remaining  
    Aggregate 

    Number of  
    Exercise