Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 185

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 185
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tery.com”
or the “Company”); Bernard Marantelli; Qawi and Quddus, Inc.; Zeljeko Ranogajec; Rook GP, LLC; Rook TX LP; and White Swan
Data Limited (collectively the “Defendants”) (Case No. 25-BC03A-0007), styled Jerry B. Reed vs. Rook TX LP, Rook GP LLC,
Colossusbets Limited, Lottery.com, Inc., Autolotto, Inc., Lottery Now, Inc., ALTX Management, LLC, Qawi and Quddus, Inc., d/b/a Luck
Zone, Lawrence Anthony “Tony” Dimatteo II , Matthew Clemensen, Ryan Dickinson, Zelko Ranogajec a/k/a John Wilson, White Swan
Data Limited, Bernard Marantelli; In the Business Court of Texas, Third Division; REMOVED: Case No. D-1-GN-25-002446; 353rd District
Court; Travis County, Texas; alleging illegal game-rigging and money-laundering during the April 22, 2023 Lotto Texas drawing. Plaintiff
seeks recovery of funds which he claims should have been included in the Lotto Texas jackpot he won on May 17, 2023.

20

Item
1A. Risk Factors.

As
of the date of this Report, there have been no material changes to the risk factors disclosed in the Company’s Annual Report, other
than as set forth below. In addition, we may disclose additional changes to such factors or disclose additional factors from time to
time in our future filings with the SEC. Any of these factors could result in a significant or material adverse effect on our results
of operations or financial condition. Additional risk factors not presently known to us or that we currently deem immaterial may also
impair our business or results of operations.

Our
business model and the conduct of our operations may have to vary in each U.S. jurisdiction where we do business to address the unique
features of applicable law to ensure we remain in compliance with that jurisdiction’s laws. Our failure to adequately do so may
have an adverse impact on our business, financial condition, and results of operations.

Lottery
laws vary among U.S. jurisdictions. This means that our business model and the conduct of our operations may have to vary in each jurisdiction
where we do business to ensure we remain in compliance with applicable laws. For example, some jurisdictions prohibit