Company: LTRYW
Filing Date: 2025-04-25
Form Type: S-1/A
Source: 0001641172-25-006093
Chunk: 83

Company: Lottery.com Inc.
Filing Date: 2025-04-25
Form: S-1/A
Chunk 83
---
 minimum requirement of $5,000,000 in MVPHS set forth in Nasdaq Listing Rule 5450(b)(1)(C). However, under
the Listing Rules, the Company was provided a 180-calendar day grace period to regain compliance.

If
at any time during the compliance period the Company’s MVPHS closed at $5,000,000 or more for a minimum of ten consecutive business
days, Nasdaq would provide written confirmation of compliance and the matter would be closed. The Company met this requirement, notified
Nasdaq and on March 6, 2025 received written notification from Nasdaq confirming that the Company has regained compliance with Nasdaq
Listing Rule 5450(b)(1)(C) and the matter is now closed. The notification also stated that the Company had regained compliance with Nasdaq
Listing Rule 5550(a)(1) and that matter was also closed.

Furthermore,
the requirement that we maintain a majority of independent directors and at least three members on our audit committee are Nasdaq requirements
that we currently meet but have not met from time to time.

If
the Company’s securities are delisted from Nasdaq, it could be more difficult to buy and 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 capital or trigger defaults and penalties under its outstanding
agreements or securities. Further, even if we regain compliance with Nasdaq listing requirements, there is no guarantee that we will
be able to maintain our listing for any period of time.

Delisting
from Nasdaq could also result in negative publicity. Further, if we are delisted, we would also incur additional costs under state blue
sky laws in connection with any sales of our securities. These requirements could severely limit the market liquidity of our common stock
or warrants and the ability of our stockholders to sell our common stock or warrants in the secondary market. If our common stock or
warrants are delisted by Nasdaq, our common stock or warrants may be eligible to trade on an over-the-counter quotation system, such
as the OTCQB Market, where an investor may find it more difficult to sell our stock or obtain accurate quotations as to the market value
of our common stock or warrants. In the event our common stock or warrants are delisted from The Nasdaq Global Market, we may not be
able to