Company: LTRYW
Filing Date: 2025-04-25
Form Type: S-1/A
Source: 0001641172-25-006093
Chunk: 96

Company: Lottery.com Inc.
Filing Date: 2025-04-25
Form: S-1/A
Chunk 96
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The number of shares of common stock to be outstanding after the offering is based on shares outstanding on December 31, 2024 plus 850,969 shares issued between December 31, 2024 and the date of this prospectus plus 25,688,622 additional shares resulting from this offering.

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<div align='center'>DILUTION</div>

Purchasers of the Common Shares in this offering will experience immediate and substantial dilution to the extent of the difference between the public offering price per Common Share paid by the purchasers of the Common Shares in this offering and the pro forma, as adjusted net tangible book value per Common Share immediately after, and giving effect to, the public offering and the Stock Purchase Agreement. Dilution results from the fact that the public offering price per Common Share in this offering is substantially in excess of the net tangible book value per Common Share attributable to our existing shareholders for our presently outstanding Common Shares.

Estimated Dilution from Stock Purchase Agreement.

Our
historical net tangible book value per Common Share is determined by dividing our net tangible book value, which is the book value of
our total tangible assets less the book value of our total liabilities, by the number of outstanding Common Shares. As of December
31, 2024, the historical net tangible book value of our Common Shares was $913,989 or $0.05 per Common Share.

After giving effect to the
(i) sale by us of an additional total of 25,688,322 shares of Common Shares under the Stock Purchase Agreement assumed at $1.25 per Common
Share and (ii) receipt by us of the net proceeds of the Stock Purchase Agreement after deduction of discounts and other expenses payable
by us, our pro forma, as adjusted net tangible book value as of December 31, 2024 would have been $25,913,989, or $0.59
per Common Share. The difference between the public offering price per Common Share and the pro forma, net tangible book value per Common
Share represents an immediate increase in net tangible book value of $0.54 per Common Share to our existing shareholders, and
an immediate dilution in net tangible book value of $0.66 per Common Share to purchasers of Common Shares in this offering.

The
following table illustrates, this dilution to purchasers in this offering on a per Common Share basis:

| Assumed price per share under Stock Purchase Agreement                                                   |     | $ | 1.25 |     | 1