Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
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Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
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our “Annual Report”).

Overview

During
FY 2024, the Company addressed legacy issues while successfully regaining full compliance with Nasdaq’s continued listing
rules and restarting operations on a limited basis in order to stage Lottery.com for growth in FY 2025. The cornerstone of the
Company’s operational progress for FY 2025 has been driven by technology, product and service/capability
enhancements. This progress is driven primarily by the execution of the Company’s “Buy-and-Build” strategy which
identifies revenue-producing assets which have the capability to accelerate the Company’s operations in the sports, entertainment,
and gaming markets.

This
Report is reflective of the Company’s commitment to transparency, integrity, and responsible corporate governance. The investment
commitments from United Capital Investments London Limited and Generating Alpha outlined in this report are evidence of investor belief
in Management’s capability to resume core lottery and gaming operations, launch additional international lottery operations, and expand operations in Mexico and offerings of sweepstakes,
as well as successful monetization of Sports.com, entrance into the entertainment market, and expand all the Company’s
brand across the globe.

Nasdaq
Listing

On
May 2, 2025, Lottery.com Inc. (the “Company” or “Lottery.com”) received a letter from the Nasdaq Listings Qualifications
Staff (“Nasdaq Staff”) Indicating they had determined that the Company failed to comply with Nasdaq’s shareholder
approval requirements set forth in Listing Rule 5635(c) (the “Approval Rule”).

The
Company was notified that it was required to obtain shareholder approval under the Approval Rule prior to the establishment of a
2023 Employees’ Directors’ and Consultants Stock Issuance and Option Plan (the “2023 Plan”) and the Ad Hoc
Grants and the shares issued in connection therewith. The Company reported on a Form 8-K on July 3, 2025 that the only Incentive
Award Plan for the Company  is “The Lottery.com 2021 Incentive Award Plan” (the “2021 Plan”) which was
approved by the shareholders and registered by the Company on Form S-8 dated April 6, 2022, and that all Awards granted from October
2023 forward have been granted in accordance with the 2021 Plan.

As
reported on form 8-K filed on May 9, 2025, the Company received written notice from Nasdaq indicating that its