Company: LTRYW
Filing Date: 2025-10-15
Form Type: 10-Q/A
Source: 0001493152-25-018121
Chunk: 51

Company: Lottery.com Inc.
Filing Date: 2025-10-15
Form: 10-Q/A
Chunk 51
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 ultimately expiring on August 17, 2023, on which date the Company
must satisfy all applicable criteria for continued listing on Nasdaq (the “June 8 Decision”). As a result of
the foregoing, the suspension from trading ceased and the Company’s securities were reinstated for trading on Nasdaq effective
with the open of the market on June 15, 2023. See “Risk Factors - Risks Related to Our Common Stock and Warrants – Although we are currently in full compliance with the continued listing standards of Nasdaq. However, we may not be able to remain in full compliance with Nasdaq’s continued listing standards in the future” for more information.

As reported on form 8-K filed
on December 7, 2023, on November 29, 2023, 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 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, through May 28, 2024.

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 received such notification from Nasdaq
on April 10, 2024 and the matter was 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 could be more difficult to buy and sell the Company’s common stock and warrants or to obtain accurate
quotations, and the price of the Company’s common stock and warrants could suffer a material decline. Delisting could also impair
the Company’s ability to raise capital and/or trigger defaults and penalties under its outstanding agreements or securities. Further,
even if we regain compliance with Nasdaq listing requirements, there is no guarantee that we will be able to maintain our listing for
any period of time.

Delisting from Nasdaq could also
result in negative publicity. Further,