Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 226

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part II, Item 8
Chunk 226
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of June 30, 2025, there were no pending proceedings that are deemed to be materially detrimental. The Company is a party to legal proceedings
in the ordinary course of its business. The Company believes that the nature of these proceedings is typical for a company of its size
and scope. See Part II, Item 1 for additional information.

Note
14. Related Party Transactions

The
Company has entered into transactions with related parties. The Company regularly reviews these transactions; however, the Company’s
results of operations may have been different if these transactions were conducted with nonrelated parties.

Christopher
Gooding, a director of the Company appointed on August 10, 2023, is an attorney licensed in the United Kingdom who previously
provided some limited consulting services to the Company’s outside general counsel on few select U.K. legal matters that could
potentially impact the Company. Mr. Gooding was compensated for his limited services separately from his compensation as a director
of the Company. Mr. Gooding began providing the limited consulting service to the Company outside general counsel in February 2024.
He was paid a total of  $264,000 in 2024 for his limited consulting services. His compensation for the limited consulting services provided during the three months ended June
30, 2025 was $72,000. Mr. Gooding ended his limited consulting services to the Company’s outside general counsel on the few select U.K. legal matters
at the close of business on June 30, 2025, in order to maintain his indepencce as director of the Company. Other than any matters wherein
Mr. Gooding is a named defendant along with the Company, Mr. Gooding strictly provides his opinions on all Board matters, legal or otherwise,
as an independent member of the Board of Directors and in no other capacity, and without any additional compensation from the Company
or its outside general counsel.

During
the quarter ended September 30, 2024, the Company entered into a borrowing arrangement with Robert Stubblefield, the Company’s
Chief Financial Officer, to provide funding for certain operating expenses of the Company. At September 30, 2024 the Loan amount was
$57,682.
Additional amounts were provided by Mr. Stubblefield during the quarter ended December 31, 2024. The loan amount at year end was
$67,941.
The Loan was issued at zero
percent interest. In February of 2025, the Company granted shares