Company: LTRYW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011865
Chunk: 66

Company: Lottery.com Inc.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part II, Item 1
Chunk 66
---
etermining its next course of action in resolving any further matters regarding Woodford.

The
validity and application of the Woodford Loan Agreement Amendment is disputed by the Company.

Despite
requests from the Company, Woodford has repeatedly amongst other things: failed to prove the amounts borrowed by the Company or claimed
to have been advanced by Woodford to the Company; failed to indicate if it would accept accelerated payment of those verified amounts;
failed to provide an anti-money laundering acceptable account to which payment could be made by the Company and failed to explain failure
to respond to requests for other funding to be accepted in the context of the Woodford Loan Agreement; failed to respond to requests
for funding under the accordion facility of the Woodford Loan Agreement; and failed to respond to allegations of money laundering and
conspiracy to defraud the Company and others.

  18  

McTurk

On
June 10, 2024, the Company and Matthew McGahan (“ McGahan”) (Company and McGahan collectively, “ Defendants”) filed
their Notice of Removal No Answer Motion to Dismiss Motion to Dismiss for Lack of Personal Jurisdiction Motion to Dismiss for Failure to State a Claim and Supporting Memorandum of Law

Honey
Tree Trading

On
September 4, 2024, Honey Tree Trading, LLC (“ Honey Tree” or “ Plaintiff”) filed a verified original complaint
(the “ Complaint”) against Lottery. com (“ Lottery. com” or the “ Company”) and directors Matthew Howard
McGahan (“ McGahan”), Christopher Gooding (“ Gooding”), Paul Jordan (“ Jordan”), Tamer Hassan (“ Hassan”)
and Warren Macal (“ Macal” together with McGahan, Gooding, Jordan and Hassan, the “ Individual Defendants” and,
collectively Lottery. com, the “ Defendants”) in Delaware Chancery Court alleging, amongst other things, breach of contract
by the Company with respect to certain notes and warrants and breach of fiduciary duties by the Individual Defendants. (CA. No. 2024-0921-NAC:
styled Honey Tree Trading, LLC v. Lottery. com Inc., et al.). On October 10,2024, Honey Tree amended its Complaint by filing an amended
verified complaint (the “ Amended Complaint”) and a motion to expedite proceedings (the “ Motion”). On November
6, 2024, at a hearing on Plaintiff’s Motion (the “ Hearing”) and on the issue of breach of fiduciary duties against
the Individual