Company: LTRYW
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001493152-25-002444
Chunk: 250

Company: Lottery.com Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 250
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 statements are issued.

In connection with the Company’s Operational Cessation, the Company has experienced recurring net losses and negative cash flows from operations and has an accumulated deficit of approximately $ 235.1million and working capital of approximately negative $ 7.5million on December 31, 2023. For the year ending December 31, 2023, the Company sustained a net loss of $ 25.5million. The Company sustained a loss from operations of $ 55.9 million and $ 53.0 million for the years ending December 31, 2022 and 2021, respectively. Subsequently, the Company sustained additional operating losses and anticipates additional operating losses for the next twelve months. These conditions raise substantial doubt about the Company’s ability to continue as a going concern.

The Company has historically funded its activities almost exclusively from debt and equity financing. Management’s plans in order to meet its operating cash flow requirements include financing activities such as private placements of its common stock, preferred stock offerings, and issuances of debt and convertible debt. Although Management believes that it will be able to continue to raise funds by sale of its securities to provide the additional cash needed to meet the Company’s obligations as they become due beginning with a loan agreement the Company entered into with United Capital Investments Ltd. (“UCIL”) on July 21, 2023, the Plans for Recommencement of Company Operations to require substantial funds to implement and there is no assurance that the Company will be able to continue raising the required capital.

The Company’s ability to continue as a going concern for the next twelve months from the issuance of these financial statements
depends on its ability to execute the business plan for the relaunch of its core business, the successful monetization of Sports.com,
and keep expenditures in line with available operating capital. Such conditions raise substantial doubt about the Company’s ability
to continue as a going concern.

| F-48 |

Impact of Trident Acquisition Corp. Business Combination

We accounted for the October 29, 2021 Business Combination as a reverse recapitalization whereby AutoLotto was determined as the accounting acquirer and Trident Acquisition Corp. (“TDAC”) as the accounting acquiree. This determination was primarily based on:

| (c) | former                                                                                                                             
 AutoLotto stockholders having the largest voting interest in Lottery.com Inc. (“Lottery.com”);                                     |
| (d) | the                                                                                                                                
 board of directors of Lottery.com having 7 members, and AutoLotto’s former