Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 291

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 291
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 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. Content provided by Sports.com is currently available worldwide as a website and a mobile application. The website was relaunched in August 2025.

As reported on form 8-K filed with the SEC on August 20, 2024, the
Company entered into a Share Purchase and Sale Agreement (the “Purchase Agreement”) with S&MI Ltd. (“S&MI”),
whereby it agreed to pay the shareholders of S&MI a total of $1,000,000 in restricted common stock at a valuation of $3.00 per share
for the acquisition of S&MI. In accordance with the Purchase Agreement:

The
first payment of $150,000 in restricted common stock (50,000 shares) of the Company is due and payable not later than the first business
date following the Completion Date. The remaining payments in restricted common stock to the shareholders of S&MI Ltd. by the Company
will be made as follows:

(i)
a second payment of $212,500 (70,833 shares) due on or before one hundred and twenty-one (121) days following the Closing Date; (ii)
a third payment, of $212,500 (70,833 shares) due on or before two hundred and twelve (212) days following the Completion Date; (iii)
a fourth payment of $212,500 (70,833 shares) due on or before three hundred and one (301) days following the Closing Date and (vi) a
final and fifth payment of $212,500 (70,834 shares) due on or before three hundred and ninety-six (396) days following the Closing Date.
The terms and conditions set forth in the MOU shall be incorporated into a definitive agreement to