Company: LTRYW
Filing Date: 2025-04-22
Form Type: 10-K/A
Source: 0001641172-25-005663
Chunk: 160

Company: Lottery.com Inc.
Filing Date: 2025-04-22
Form: 10-K/A
Chunk 160
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 and Sale Agreement”), wherein the Purchase Price is the total equivalent One Million Dollars USD ($ 1,000,000.00) in restricted stock units of common shares in the Company. (the “Payment-In-Kind”) fixed at Three Dollars USD ($ 3.00) per share (the “Fixed Price”). Purchase Price is to be paid out over five payments on the following schedule : Thefirst payment of $ 150,000in restricted common stock ( 50,000shares) of the Company is due and payable on September 1, 2024 (the “Completion Date” and the “First Issuance Date”.). The remaining payments in restricted common stock to the shareholders of S&MI Ltd. by the Company will be made as follows: (i) a second payment of $ 212,500( 70,833shares) due on or before the 31 stday following ninety days after the Completion Date (the Second Issuance Date”); (ii) a third payment, of $ 212,500( 70,833shares) due on or before the 31 stday following ninety days after the Second Issuance Date (the Third Issuance Date”); (iii) a fourth payment of $ 212,500( 70,833shares) due on or before the 31 stday following ninety days after the Third Issuance Date (the “Fourth Issuance Date”); and (vi) a final and fifth payment of $ 212,500( 70,834shares) due on or before the 31 stday following ninety days after the Fourth Issuance Date.

In the event that the closing price of the restricted stock units of common shares of the Company to be issued to the shareholders of S&MI, Ltd. is lower than the Fixed Purchase Price on the six (6) month anniversary of any issuance date of said shares (collectively the “Anniversary Issuance Price”), then the Fixed Purchase Price shall be adjusted downward to the volume-weighted average price (“VWAP”) of the common stock for the five (5) consecutive trading days immediately preceding the six (6) month anniversary date of said issuance date. Accordingly, the Company shall be obligated to tender to the shareholders of S&MI, Ltd. additional restricted stock units of common shares of the Company to make up the difference between the Fixed Purchase Price and the Anniversary Issuance Price.

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The opening balance of S&MI Ltd has