Company: LTRYW
Filing Date: 2025-04-21
Form Type: 10-K
Source: 0001641172-25-005487
Chunk: 149

Company: Lottery.com Inc.
Filing Date: 2025-04-21
Form: 10-K
Item: Item 8
Chunk 149
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 monthly basis, subject to
offset, and were recorded by the Company as an expense. To the extent Master Goblin had a positive net income in any month, exclusive
of the sale of lottery games, such net income reduced or eliminated such reimbursable expenses for that month.

  F-29  

In
January 2023, Woodford Eurasia Assets, Ltd. signed a letter of intent to acquire Master Goblin. Such letter of intent would give Woodford
the right to appoint a director to the Board of Directors of the Company (see Subsequent Events). As of the date of this Report, no definitive
documentation for this transaction has been signed.

In
January of 2023, the company paid $53,000 to Master Goblin Games for settlement of outstanding obligations of $316,919 and the parties
mutually agreed to terminate the business relationship.

Christopher Gooding, a
director of the Company appointed on August 10, 2023, is an attorney licensed in the United Kingdom who works with the
Company’s outside general counsel on various matters that could potentially impact the Company. Mr. Gooding is
compensated for his services separately from his compensation as a director of the Company. Mr. Gooding began
providing legal services to the Company through the firm Amar Ali Law PLLC in February 2024. He was paid a total of $264,000
in 2024 for his legal services.

During the quarter ended September 30, 2024, the Company entered into a
borrowing arrangement with Robert Stubblefield, the Company’s Chief Financial Officer, to provide funding for certain operating
expenses of the Company. At September 30, 2024 the Loan amount was $57,682. Additional amounts were provided by Mr. Stubblefield during
the quarter ended December 31, 2024. The loan amount at year end was $67,941. The Loan was issued at zero percent interest. The
Company has not made any payments on the loan as of the date of this report.

Note
16. Subsequent Events

On
February 11, 2025, Sports. comentered into
a multi-year global partnership agreement with Soccerex, the world’s leading soccer (hereinafter referred to as “football”)
business event organizer. The Agreement makes Sports. com the title sponsor for six global events including Soccerex 2025 for MENA, Europe
and USA to be held in Cairo, Amsterdam and Miami,