Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 37

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 not issue any warrants during the three months ended June 30, 2025. During the year ended December 31, 2024, the Company
issued 458,370 warrants to a third-party consulting firm and 1,996,713 warrants as part of the commitment fee pursuant to the Stock
Purchase Agreement with Generating Alpha. The 24,415 outstanding warrants issued prior to January 1, 2023 are fully vested and have a
weighted average remaining contractual life of 2.7 years. The 2.5 million warrants issued during 2024 are fully vested and have
a weighted average remaining contractual life of 3.5 years. The Company did not incur any expense for the three months ended June
30, 2025 and recorded expenses of $693,397 for the year ended December 31, 2024. 

Schedule
of Common Stock Warrant

    Weighted  

    Weighted  
    Average  

    Average  
    Remaining  
    Aggregate 

    Number of  
    Exercise  
    Contractual  
    Intrinsic 

    Shares  
    Price  
    Life (years)  
    Value 
  
    Outstanding at December 31, 2024 
     2,479,478  
     0.29  
     3.74  
     1,893,794 
  
    Granted 
     -  
     -  
     -  

    Exercised 
     -  
     -  
     -  

    Forfeited/cancelled 
     -  
     -  
     -  

    Outstanding at June 30, 2025 
     2,479,878  
    $0.29  
     3.49  
    $2,710,316 

     F-21 

Earnout
Shares

As
detailed in Note 4 - as part of the TDAC Combination as of December 31, 2021 a total of 5,000,000 Earnout Shares were eligible
for issuance until December 31, 2022. Conditions for the earnout were not met and the potential earnout shares were forfeited on December
31, 2022.

Note
11. Stock-based Compensation

Expense
2015 Stock Option Plan

Prior
to the closing of the Business Combination,