Company: LTRYW
Filing Date: 2025-04-22
Form Type: 10-K/A
Source: 0001641172-25-005663
Chunk: 17

Company: Lottery.com Inc.
Filing Date: 2025-04-22
Form: 10-K/A
Chunk 17
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 2023, the Company entered into a placement agent agreement (the “Placement Agent Agreement”) with Univest Securities, LLC (the “Placement Agent”), whereby the Placement Agent agreed to act as placement agent in connection with the Company’s offering (“Offering”) of units (“Units”) up to $1,000,000; each Unit consisting of a convertible promissory note (each, a “Convertible Note” or collectively, the “Convertible Notes”), and a common stock purchase warrant (each, a “Warrant”, or collectively, the “Warrants”) in order for investors placed by it to purchase shares of common stock of the Company, par value $0.001 per share (the “Common Stock”). Each Unit under the Offering includes specific registration rights (“Registration Rights”), for each investor obtained through the Placement Agent.

On February 1, 2024, the parties agreed to increase the Offering amount from $1,000,000 to $5,000,000. All other terms and conditions of the Offering remain the same. The Securities shall be offered and sold pursuant to Section 4(a)(2) under the Securities Act of 1933, as amended (the “Securities Act”).

Operations Prior to 2022 Operational Cessation

Prior to the 2022 Operational
Cessation, the Company was primarily a provider of domestic lottery products and services (subsidiary operations in Mexico, such as Aganar
and JuegaLotto in Mexico, and TinBu in the U.S. were unaffected by the 2022 Operational Cessation and continued operations, including
lottery sales and the generation of revenue). It is the Company’s intention to become a primary provider of U.S.-centric lottery
products and services again. As an independent third-party lottery game service, with principal operations headquartered in the United
States we offered a platform that we developed and operated to enable the remote purchase of legally sanctioned lottery games in the U.S.
and abroad (our lottery “Platform”). Our revenue generating activities included (i) offering the Platform via our Lottery.com
app and our websites to users located in the U.S. and multinational jurisdictions where the sale of lottery games was legal and our services
were enabled for the remote purchase of legally approved lottery games (our “B2C Platform”); (ii) offering an internally developed,
created and operated business-to-business application programming interface (“API”) of the Platform, which enabled our commercial
partners, in permitted U.S. and