Company: LTRYW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011865
Chunk: 1

Company: Lottery.com Inc.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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 platform that it developed and operates to enable the remote purchase of legally sanctioned lottery
games in the U. S. and abroad (the “ Platform”). The Company’s revenue generating activities are focused on (i) offering
the Platform via the Lottery. com app and our websites to users located in the U. S. and international jurisdictions where the sale of
lottery games is legal and our services are enabled for the remote purchase of legally sanctioned lottery games (our “ B2C Platform ”

As
a provider of lottery products and services, the Company is required to comply with, and its business is subject to, regulation in each
jurisdiction in which the Company offers the B2C Platform, or a commercial partner offers users access to lottery games through the B2B
API. In addition, it must also comply with the requirements of federal and other domestic and foreign regulatory bodies and governmental
authorities in jurisdictions in which the Company operates or with authority over its business. The Company’s business is additionally
subject to multiple other domestic and international laws, including those relating to the transmission of information, privacy, security,
data retention, and other consumer focused laws, and, as such, may be impacted by changes in the interpretation of such laws.

On
June 30, 2021, the Company acquired an interest in Medios Electronicos y de Comunicacion, S. A. P. I de C. V. (“ Aganar”) and
JuegaLotto, S. A. de C. V. (“ JuegaLotto”). Aganar has been operating in the licensed iLottery market in Mexico since 2007 as
an online retailer of Mexican National Lottery draw games, instant digital scratch-off games and other games of chance. JuegaLotto is
licensed by the Mexican federal regulatory authorities to sell international lottery games in Mexico.

On
July 28, 2022, the Board determined that the Company did not currently have sufficient financial resources to fund its operations or
pay certain existing obligations, including its payroll and related obligations and effectively ceased its operations furloughing certain
employees effective July 29, 2022 (the “ Operational Cessation”). Subsequently, the Company has had minimal day-to-day operations
and has primarily focused on restarting certain aspects of its core businesses (the “ Plans for Recommencement of Company Operations”).

On
April 25, 2023, as part of the Plans for Recommencement of Company Operations,