Company: LTRYW
Filing Date: 2025-02-10
Form Type: DEF 14A
Source: 0001493152-25-005681
Chunk: 17

Company: Lottery.com Inc.
Filing Date: 2025-02-10
Form: DEF 14A
Chunk 17
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 of the Common Stock by the ratio to be determined by the Board, but will not increase the par value of the Common Stock, and will not change the number of authorized shares of the Common Stock. If the Board does not implement an approved Reverse Stock Split prior to the one-year anniversary of this meeting, the Board will seek stockholder approval before implementing any Reverse Stock Split after that time.

You should keep in mind that the implementation of a reverse stock split does not have an effect on the intrinsic value of our business or your proportional ownership in it. You should also consider that in many cases, the market price of a company’s common stock may decline following a reverse stock split.

Background

Our Common Stock is currently listed on The Nasdaq Stock Market LLC (“Nasdaq”) under the symbol “LTRY.” In order for our Common Stock to continue to be listed on Nasdaq, we must satisfy various listing maintenance standards established by Nasdaq.As of the date of this Report, we are currently not in full compliance with the continued listing standards of Nasdaq, and
we may not be able to regain full compliance with Nasdaq’s continued listing standards in the future.

Under
Nasdaq Listing Rule 5550(a)(2), if the bid price of our Common Stock is under $1.00 per share over a period of 30 consecutive trading
days, Nasdaq may delist our Common Stock from trading.

As
of the date of this Report, our common stock is trading above Nasdaq’s $1.00 (U.S.) minimum trading price requirement (the
“Minimum Trading Price”), a minimum trading price that was breached on September 11, 2024. Should the Minimum Trading
Price not be restored, the Company risks having its securities delisted by Nasdaq.

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 lose and are able to 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, if we are delisted, we would also incur additional costs under state