Company: LTRYW
Filing Date: 2025-04-21
Form Type: 10-K
Source: 0001641172-25-005487
Chunk: 17

Company: Lottery.com Inc.
Filing Date: 2025-04-21
Form: 10-K
Item: Item 1
Chunk 17
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financial condition.” The Company has also maintained various pre-paid media credits that it expects to use to launch and
maintain promotional campaigns for both lottery and sweepstakes sales geared towards encouraging prior customers to return to the
Platform and to acquire new customers. The Company had a limited relaunch of its sweepstakes business in April 2024. Currently, the
Company is operating sweepstakes in a limited number of US jurisdictions and anticipates domestic and international operations by
the end of Q2 2025.

The Company acquired Spektrum LTD in March of 2025. This acquisition
provided the Company with ownership of 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.

   8  

Phase
2 - Restore Other Business Lines and Projects.

As of the date of this Report,
the current estimated cash balance of the Company and subsidiaries is approximately $36,799. The Company believes that this cash
on hand, along with future borrowings, will be sufficient for the Company to resume core operations.

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 in compliance with Nasdaq’s continued listing requirements (the “ Listing
Rules”) Additionally, under its new management, the Company continues to work to improve its disclosure and reporting controls and plans to continue improving its systems of internal control over financial reporting and invest in additional legal, accounting,
and financial resources.

Even if the Company’s three
phase plan to restart its operations is successful, there can be no assurance that the Company will be able to maintain compliance with
Nasdaq’s 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 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