Company: LTRYW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011865
Chunk: 48

Company: Lottery.com Inc.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 2
Chunk 48
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 additional capital, we may be forced to curtail or abandon our plans to recommence our operations
and we may need to permanently cease our operations”

Nook
Holdings, LTD

On
September 28, 2023, the company entered into Stock Purchase Agreement with the shareholders of Nook Holdings Limited (“ Nook”),
a private limited company incorporated and registered in the Abu Dhabi Global Market, Abu Dhabi, United Arab Emirates (“ UAE”).
The total purchase price is approximately $2.314 million. The Company made three payments totaling $137,500 in the fourth quarter of
2023 and additional payments totaling $150,000 in May of 2025 and anticipates the transaction closing in the second quarter of 2025 or
as otherwise agreed by the parties. Nook is known for its innovative approach to co-working in Dubai and has procured 200 licenses for
individuals and companies in the sports, health and wellness sector seeking access to Dubai and the broader Middle Eastern market. With
its exclusive partnership with the Dubai Multi-Commodities Centre Free Zone (DMCC), Nook offers a wide range of services, including business
setup support, insurance, VAT registration, and networking opportunities for like-minded sports entrepreneurs. As part of the acquisition,
Nook will be rebranded under the Sports. com umbrella.

Sports. com

In
December 2021, we finalized the acquisition of the domain name https://sports. com. On March 26, 2025, the Company registered Sports. com
as a fictious name in the state of Florida under AutoLotto, Inc, a wholly owned subsidiary (“ Sports. com”). Sports. com is
currently available worldwide as a website and a mobile application.

As
reported on form 8-K filed with the SEC on February 9, 2024, on February 5, 2024, the Company entered into a Memorandum of Understanding
(the “ MOU”) with WA Technology Group Limited (“ WATG”), whereby the Company has agreed to pay WATG a total of
$500,000 US dollars in restricted common stock at a price of $3.00 per share. A second payment by Lottery. com to WATG shall be due in
five years and 2 months from the date of the definitive agreement to be signed by the parties at a later date. The total consideration
for the second payment is the equivalent of $500,000 US dollars in restricted common stock at market value on