Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 47

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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2025, the Company entered into a Share Purchase and Sale Agreement (the “Agreement”) with DotCom Ventures Inc. (“DVI”)
which outlined the intent of the Company to purchase the entire issued share capital and assets including the domain names concerts.com
and ticketstub.com from DVI.

The
Agreement calls for the Company to pay DVI Five Million Dollars ($5,000,000) as consideration for Majority Interest (51%). The parties mutually agree that at Closing, the Company shall have the option at its sole discretion to pay DVI the Purchase Price as follows:
(i) in cash; (ii) as Payment-In-Kind (as defined below) equivalent to the Purchase Price; or (iii) a combination of cash and Payment-In-Kind
(as defined below) equivalent to the Purchase Price. The term “Payment-In-Kind shall be defined as restricted stock units of common
shares of the Company to be applied towards the Purchase Price at a fixed price of Three Dollar USD ($3.00) per share (the
“Fixed Price”) irrespective of the trading price of the Company stock at the execution of this Agreement or the Closing Date.
At Closing, in the event that the Company elects to make a Payment-In-Kind for any portion of the Purchase Price, the Company shall cause
to be issued to Seller the equivalent in restricted stock units of common shares in Lottery.com to be applied towards the Purchase Price.
Seller shall receive the Payment-In-Kind within three business days following the Closing Date. Any Payment-In-Kind made as
part of the consideration to satisfy any portion of the Purchase Price shall carry full piggyback registrations rights for the benefit
of Seller.

In
the event the closing price of the restricted stock units of common shares in the Company to be issued to Seller as Payment-In-Kind at
Closing is lower than the Fixed Price at the close of trading on April 30, 2026 (the “Reprice Date”), then the Fixed Price
will be adjusted downward to the VWAP of the common stock for the five (5) consecutive trading days immediately preceding the Reprice
Date (the “Market Price”). Accordingly, Buyer will be obligated to tender Seller additional restricted stock units of common
shares in the Company to true up the difference between the Fixed Price and the Market Price (the “True-Up”).

At
Closing, Seller will grant to Buyer the right to purchase the balance of the issued and outstanding shares of common stock of DVI