Company: LTRYW
Filing Date: 2025-05-14
Form Type: S-1/A
Source: 0001641172-25-010091
Chunk: 233

Company: Lottery.com Inc.
Filing Date: 2025-05-14
Form: S-1/A
Chunk 233
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 Bid Price Requirement”). Notably, the Company regained compliance with the Minimum Bid Price Requirement without effectuating a reverse stock split that was approved by the shareholders at the 2024 Annual Stockholder’s Meeting. Additionally, the Company’s market value of publicly held shares being $ 5,000,000or above during the same period, the Company regained compliance with Nasdaq Listing Rule 5450(b)(1)(C).

On March 13,
2025, the Company completed the acquisition of Spektrum Ltd from PlusEvo Ltd through a signed Share Purchase Agreement (SPA). This acquisition,
valued at $1.5 million in common stock at $3 per share, supports Lottery.com’s strategic expansion and the development of Lottery.com
International. The acquisition provides the Company with a compliant platform to support lottery, sweepstakes and social gaming operations
in dozens of international jurisdictions.

On March 25, 2025, Sports.com Studios (“SDCS”) was launched by the Company. SDCS
will serve as the Company’s dedicated content creation arm, producing original content for the Sports.com platform along with generating
revenue through content licensing and distribution to third parties.

On March 26,
2025, the Company registered Sports.com as a fictitious name under AutoLotto, Inc.in the state of Florida. This permits the Company to
conduct business in the state under the Sports.com brand name.

| F-30 |

Item 3. Quantitative and Qualitative Disclosures About Market Risk.

As a “smaller reporting company” as defined by Rule 10(f)(1) of Regulation S-K, the Company is not required to provide this information.

Item 4. Controls and Procedures.

Evaluation of Disclosure Controls and Procedures

In connection with the filing of the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 our management, with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of December 31, 2024. Based on their evaluation, our Chief Executive Officer and Chief Financial Officer concluded that, as of December 31, 2024, our disclosure controls and procedures were not effective due to material weaknesses in our internal control over financial reporting with respect to our financial statement close and reporting process.

Material Weakness in Internal Control Over Financial Reporting

In