Company: LTRYW
Filing Date: 2025-11-20
Form Type: 10-Q
Source: 0001493152-25-024384
Chunk: 325

Company: Lottery.com Inc.
Filing Date: 2025-11-20
Form: 10-Q
Item: Part I, Item 3
Chunk 325
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 operating effectiveness of internal controls over a sustained
period of financial reporting cycles. We may also conclude that additional measures may be required to remediate the material weaknesses
in our internal control over financial reporting.

We
cannot assure you that the measures we take will be sufficient to remediate the material weaknesses we identified or avoid the identification
of additional material weaknesses in the future. If the steps we take do not remediate the material weaknesses in a timely manner, there
could continue to be a reasonable possibility that this control deficiency or others could result in another material misstatement of
our annual or interim financial statements that would not be prevented or detected on a timely basis.

For
more information, see “Item 1A. Risk Factors - Public Company Operating Risks - If we fail to implement and maintain an effective
system of internal controls, we may be unable to accurately report our results of operations, meet our reporting obligations or prevent
fraud, and investor confidence and the trading price of our common stock and warrants may be materially and adversely affected.”

Changes
in Internal Control Over Financial Reporting

Except
as otherwise described herein, there was no change in our internal control over financial reporting identified in connection with the
evaluation required by Rule 13a-15(d) and 15d-15(d) of the Exchange Act that occurred during the quarter ended September 30, 2025 that
has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

 17 

PART
II – OTHER INFORMATION

Item
1. Legal Proceedings

The
Company is from time to time a party to various lawsuits, claims and other legal proceedings that arise in the ordinary course of business.
In addition, the Company is a party to several material legal proceedings, which are described below. The outcome of litigation is inherently
uncertain. If one or more legal matters were resolved against the Company in a reporting period for amounts in excess of management’s
expectations, the Company’s financial condition and operating results for that reporting period could be materially adversely affected.

J. Streicher

On
July 29, 2022, the Company filed its original Verified Complaint for Breach of Contract and Specific Performance (the “Streicher
Complaint”) against J. Streicher Financial, LLC (“Streicher”) in the Court of Chancery of the State of Delaware (the
“Chancery Court”), styled AutoLotto, Inc. dba Lottery.com v. J. Streicher Financial