Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 231

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part II, Item 8
Chunk 231
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common stock will be at the VWAP of the common stock for the five (5) consecutive trading days immediately preceding the exercise date.
At Closing, the Option will be deemed to be coupled with an interest and irrevocable, except that a portion of the Option will be revoked
automatically upon the expiration of the funding deadlines set forth above without full payment of the corresponding funding obligation
to Seller.

GXR
World Sports Platform Acquisition

On
July 29, 2025, the Company entered into an Asset Purchase Agreement (the “Agreement”) with Galaxy Racer Holdings Limited,
a BVI entity (“GXR”) As consideration for the Assets, Buyer will, at Closing pay and deliver to Seller (or its designees)
the sum of Ten Million Dollars USD ($10,000,000.00) (the “Purchase Price”) for 100% of the Assets defined as the GXR Platform
and App, the GXR tech stack, all users, and all licenses. Integration between the GXR platform and the Sports.com app will evolve the combination into Sports.com Super App. The platform will offer an all-in-one digital ecosystem built for the modern sports audience combining live
streaming; community chat hubs; stats-based social media; e-commerce; real-money and fantasy sports gaming; real time translations; and
sports news.

The
Agreement calls for the Company to pay GXR Five Million One Hundred Thousand Dollars ($5,100,000)
of the Purchase Price as Payment-In-Kind (as defined below) equivalent to the Purchase Price. The term “Payment-In-Kind”
shall be defined as restricted stock units of common shares in the Company to be applied towards the Purchase Price at a fixed price
of Three Dollars USD ($3.00)
per share (the “Fixed Price”) irrespective of the trading price of the Company’s common stock at the execution of
this Agreement or the Closing Date. At Closing, Buyer shall cause to be issued to Seller (or its designees) the equivalent in
restricted stock units of common shares in the Company to be applied towards the Purchase Price. Seller (or its designees) shall
receive the Payment-In-Kind within three business days following the Closing Date. Any Payment-In-Kind made as part of the
consideration to satisfy any portion of the Purchase Price shall carry full piggyback registrations rights for the benefit of Seller
(or its designees). The Company will also pay GXR (or its designees) Four Million