Company: LTRYW
Filing Date: 2025-10-15
Form Type: 10-Q/A
Source: 0001493152-25-018121
Chunk: 9

Company: Lottery.com Inc.
Filing Date: 2025-10-15
Form: 10-Q/A
Chunk 9
---
 be supported both by subscriptions and paid advertising.

As a provider of lottery products and services,
the Company is required to comply with, and its business is subject to, regulation in each jurisdiction in which the Company offers the
B2C Platform, or a commercial partner offers users access to lottery games through the B2B API. In addition, it must also comply with
the requirements of federal and other domestic and foreign regulatory bodies and governmental authorities in jurisdictions in which the
Company operates or with authority over its business. The Company’s business is additionally subject to multiple other domestic
and international laws, including those relating to the transmission of information, privacy, security, data retention, and other consumer
focused laws, and, as such, may be impacted by changes in the interpretation of such laws.

On June 30, 2021, the Company acquired an
interest in Medios Electronicos y de Comunicacion, S.A.P.I de C.V. (“Aganar”) and JuegaLotto, S.A. de C.V. (“JuegaLotto”).
Aganar has been operating in the licensed iLottery market in Mexico since 2007 as an online retailer of Mexican National Lottery draw
games, instant digital scratch-off games and other games of chance. JuegaLotto is licensed by the Mexican federal regulatory authorities
to sell international lottery games in Mexico.

On July 28, 2022, the Board determined that
the Company did not currently have sufficient financial resources to fund its operations or pay certain existing obligations, including
its payroll and related obligations and effectively ceased its operations furloughing certain employees effective July 29, 2022 (the “Operational
Cessation”). Subsequently, the Company has had minimal day-to-day operations and has primarily focused on restarting
certain aspects of its core businesses (the “Plans for Recommencement of Company Operations”).

On April 25, 2023, as part of the Plans for
Recommencement of Company Operations, the Company resumed its ticket sales operations on a limited basis to support its affiliate partners
through its Texas retail network.

On September 1, 2024, the Company completed
the acquisition of S&MI Ltd. Finalizing this acquisition is the foundation for the monetization of Sports.com. In 2024, the Company
launched the Sport.com app providing users around the world with access to curated sports content. Additionally, the Company partnered
with BOXXER