Company: LTRYW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011865
Chunk: 26

Company: Lottery.com Inc.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 of common stock and 87,500 warrants to purchase 87,500 shares of common
stock. The unit purchase option, which was exercisable for cash or on a cashless basis, at the holder’s option, expired on May
29, 2023. The Units issuable upon exercise of this option were identical to those offered by Lottery. com. The Company accounted for the
unit purchase option, inclusive of the receipt of $100 cash payment, as an expense of the Business Combination resulting in a charge
directly to stockholders’ equity. As of December 31, 2023 all of the 87,500 Units have been forfeited.

Common
Stock

The
Company did not issue any warrants during the three months ended March 31, 2025. During the year ended December 31, 2024, the company
issued 458,370 warrants to a third party consulting firm and 1,996,713 warrants as part of the commitment
fee pursuant to the Stock Purchase Agreement with Generating Alpha 2024
are fully vested and have a weighted average remaining contractual life of 3.5 years. The f

                                                                      Weighted                                             
                                              Weighted                Average                                              
                                              Average                 Remaining                  Aggregate                 
                                              Exercise                Contractual                Intrinsic                 
                                              Price                   Life                       Value                     
  Outstanding                  24,415         $             0.11                       2.82      $              1,200,387  
  Granted                      2,455,083                    0.30                       3.5                        693,397  
  Exercised                    -                            -                          -                                   
  Forfeited/cancelled          -                            -                          -                                   
  Outstanding at December      2,479,478                    0.29                       3.45                     1,893,794  
  Granted                      -                            -                          -                                   
  Exercised                    -                            -                          -                                   
  Forfeited/cancelled          -                            -                          -                                   
  Outstanding                  2,479,478      $             0.29                       3.74      $              1,893,794  

  F-22  

Earnout
Shares

As
detailed in Note 4 - as part of the TDAC Combination as of December 31, 2021 a total of 5,000,000 Earnout Shares were eligible for issuance
until December 31, 2022. Conditions