Company: LTRYW
Filing Date: 2025-04-21
Form Type: 10-K
Source: 0001641172-25-005487
Chunk: 94

Company: Lottery.com Inc.
Filing Date: 2025-04-21
Form: 10-K
Item: Item 1A
Chunk 94
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Risks
Related to Our Common Stock and Warrants

Although
we are currently in full compliance with the continued listing standards of Nasdaq, we may not be able to remain in full compliance with
Nasdaq’s continued listing standards in the future.

Our common stock and warrants
trade on The Nasdaq Global Market under the symbols “ LTRY” and “ LTRYW,” respectively. Our failure to remain in
full compliance with these requirements may result in our securities being delisted from Nasdaq.

On September 11, 2024, the Staff
notified the Company that the bid price of its common stock had closed at less than $1 per share over the previous 30 consecutive business
days, and, as a result, did not comply with Nasdaq Listing Rule 5550(a)(1). Therefore, in accordance with e Listing Rule 5810(c)(3)(A),
the Company was provided 180 calendar days to regain compliance with such rule.

As
reported on form 8-K filed on November 1, 2024, on October 28, 2024, the Company received a letter from Nasdaq stating that based upon
its review of the Company’s Market Value of Publicly Held Shares (“ MVPHS”) for the last 30 consecutive business days,
the Company no longer met the minimum requirement of $5,000,000 in MVPHS set forth in Nasdaq Listing Rule 5450(b)(1)(C). However, under
the Listing Rules, the Company was provided a 180-calendar day grace period to regain compliance.

If
at any time during the compliance period the Company’s MVPHS closed at $5,000,000 or more for a minimum of ten consecutive business
days, Nasdaq would provide written confirmation of compliance and the matter would be closed. The Company met this requirement, notified
Nasdaq and on March 6, 2025 received written notification from Nasdaq confirming that the Company has regained compliance with Nasdaq
Listing Rule 5450(b)(1)(C) and the matter is now closed. The notification also stated that the Company had regained compliance with Nasdaq
Listing Rule 5550(a)(1) and that matter was also closed.

Furthermore,
the requirement that we maintain a majority of independent directors and at least three members on our audit committee are Nasdaq requirements
that we currently meet but have not met from time to time.

If
the Company’s securities are delisted from Nasdaq, it