Company: LTRYW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011865
Chunk: 51

Company: Lottery.com Inc.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 2
Chunk 51
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verse effect on us or our results of operations, cash flow, or financial condition

The
Company acquired Spektrum LTD in March of 2025. This acquisition provided the Company with ownership of a platform that is designed to
run in dozens of international jurisdictions. The Company is in final phases of procuring the appropriate licensing and business services
to launch in multiple African and Asian jurisdictions. The launch date is scheduled for Q2 2025.

Phase
2 - Restore Other Business Lines and Projects.

   8  

As
of the date of this Report, the current estimated cash balance of the Company and subsidiaries is approximately $69,874

As
of the date of this Report, our common stock and warrants are traded on The Nasdaq Stock Market LLC (“ Nasdaq”) under the
ticker symbols “ LTRY” and “ LTRYW,” respectively. As of the date of this Report, we are not in compliance with
Nasdaq’s continued listing requirements (the “ Listing Rules”). See, Risk Factors - Risks Related to
Our Common Stock and Warrants - We are not currently in full compliance with the continued listing standards of Nasdaq and we may
not be able to regain full compliance with Nasdaq’s continued listing standards in the future

Even
if the Company’s phased plan to recommence its operations is successful, there can be no assurance that the Company will be able
to remain in compliance with the applicable Listing Rules. If the Company’s securities are delisted from Nasdaq, it could be more
difficult to buy or sell the Company’s common stock and warrants or to obtain accurate quotations, and the price of the Company’s
common stock and warrants could suffer a material decline. Delisting could also impair the Company’s ability to raise additional
capital needed to fund its operations and/or trigger defaults and penalties under outstanding agreements or securities of the Company.

There
can be no assurance that we will have sufficient capital to support our operations and pay expenses, repay our debt, or that additional
funds will be available on favorable terms, if at all. We may not be able to restart our operations or generate sufficient funding to
support such operations in the future. The Company’s ability to continue its current operations, prepare and refile deficient and
restated reports, and restart its prior operations, is dependent upon obtaining new financing. Future financing options available to
the Company include equity financings, debt financings or other capital sources, including collaborations with other companies or other
str