Company: LTRYW
Filing Date: 2025-10-15
Form Type: 10-Q/A
Source: 0001493152-25-018121
Chunk: 58

Company: Lottery.com Inc.
Filing Date: 2025-10-15
Form: 10-Q/A
Chunk 58
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standing warrants and the number of shares issuable under the Company’s equity incentive plans and certain existing agreements,
as well as the exercise, grant and acquisition prices of such equity awards and warrants, as applicable. The Reverse Stock Split was approved
by the Company’s stockholders at the Company’s 2023 Annual Meeting of Stockholders on August 7, 2023 and was subsequently
approved by the Board of Directors on August 7, 2023.

International Expansion

In June 2021, we closed the acquisition
of Global Gaming, which holds 80% of the equity of each of Aganar and JuegaLotto. Aganar operates in the licensed Online Lottery market
in Mexico and is licensed to sell Mexican National Lottery draw games, instant win tickets, and other games of chance online with access
to a federally approved online casino and sportsbook gaming license. JuegaLotto is licensed by Mexico authorities to commercialize international
lottery games in Mexico through an authorized gaming portal and to commercialize games of chance in other countries throughout Latin America.
As of the date of this Report, according to Statista, the estimated size of the Latin American lottery market is $.68 billion with a compound
annual growth rate projected at 6.05% through 2028. Furthermore, it is projected that there will be 3,000,000 online lottery players in
the South American lottery market alone by 2028. Based on these projections, we believe these acquisitions will provide opportunities
for growth of our international operations throughout Mexico and Latin America as we expand our portfolio of products and expose our existing
products to new markets.

The Company completed the acquisition
of Spektrum Ltd from PlusEvo Ltd through a signed Share Purchase Agreement (SPA) on March 13, 2025. This acquisition, valued at $1.5 million
in common stock at $3 per share, supports Lottery.com’s strategic expansion and the development of Lottery.com International. The
acquisition provides the Company with a compliant platform to support lottery, sweepstakes and social gaming operations in dozens of international
jurisdictions.

Operations Prior to Operational Cessation

Prior to the Operational Cessation,
the Company was a provider of domestic and international lottery products and services. As an independent third-party lottery game service,
we offered a platform that we developed and operated to enable the remote purchase of legally sanctioned lottery games in the U.S. and
abroad (the “Platform”). Our revenue generating activities