Company: LTRYW
Filing Date: 2025-04-21
Form Type: 10-K
Source: 0001641172-25-005487
Chunk: 34

Company: Lottery.com Inc.
Filing Date: 2025-04-21
Form: 10-K
Item: Item 1A
Chunk 34
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internal control over financial reporting is effective, our independent registered public accounting firm, after conducting its own independent
testing, may issue an adverse opinion on the effectiveness of internal control over financial reporting because of the existence of a
material weakness if it is not satisfied with our internal controls or the level at which our controls are documented, designed, operated
or reviewed, or if it interprets the relevant requirements differently from us. In addition, as a public company, our reporting obligations
may place a significant strain on our management, operational and financial resources and systems for the foreseeable future. We may
be unable to timely complete our evaluation, testing, and any required remediation.

  17  

During
the course of documenting and testing our internal control procedures, in order to satisfy the requirements of Section 404, we may identify
other weaknesses and deficiencies in our internal control over financial reporting. If we fail to maintain the adequacy of our internal
control over financial reporting, as these standards are modified, supplemented or amended from time to time, we may not be able to conclude
on an ongoing basis that we have effective internal control over financial reporting in accordance with Section 404. Generally speaking,
if we fail to achieve and maintain an effective internal control environment, it could result in future material misstatements in our
financial statements and could also impair our ability to comply with applicable financial reporting requirements and related regulatory
filings on a timely basis. As a result, our businesses, financial condition, results of operations and prospects, as well as the trading
price of our shares of common stock and warrants, may be materially and adversely affected.

The
circumstances that led to the failure to file our annual report and quarterly reports on time, and our efforts to investigate, assess
and remediate those matters have caused and may continue to cause substantial delays in our SEC filings.

Our
ability to resume a timely filing schedule with respect to our SEC reporting is subject to a number of contingencies, including whether
and how quickly we are able to effectively remediate the identified material weaknesses in our internal control over financial reporting.
Our filing of our quarterly reports and annual reports has been delayed and we cannot assure you we will be able to timely make our future
filings.

In
cases where we delay our filings, investors will need to evaluate certain decisions with respect to our shares of common stock and warrants
in light of our lack of current financial information. Accordingly, any investment in our shares or warrants may involve a greater
degree of risk than