Lottery.com, Inc. Warrants - LTRYW STOCK NEWS

Lottery.com regains compliance with Nasdaq's Minimum Bid Price Requirement and Periodic Filing Rule

Lottery.com appoints Christopher Anderson Gooding to its board of directors, marking an important step in compliance with Nasdaq. Gooding brings decades of experience in law firms and corporate governance, with involvement in various industries. The company aims to resume operations in ticket sales, international expansion, and technology licensing, anticipating new revenue streams.

Lottery.com announces successful conclusion of its Annual Meeting of Stockholders. Board approves reverse stock split with a ratio of 20-for-1. Stock trading to begin on a reverse-split adjusted basis on August 10, 2023. Shareholders show support for election of Nick Kounoupias as a Class II Director and ratify appointment of Yusufali & Associates, LLC as independent registered public accounting firm. Board votes to remove the option to purchase Sports.com from agreement with UCIL.

Lottery.com announces milestones in revenue growth and stability. Regains compliance with Nasdaq listing requirement and secures $1 million loan from UCIL. Additional credit facility of up to $49 million. Directors have interest in UCIL but did not vote on the agreement. Improved corporate governance with new board appointments. Regains compliance with Nasdaq audit committee rule. Company expects to move forward with operational goals.

Lottery.com announces a new funding agreement with United Capital Investments London, Ltd. Changes to the Board of Directors and executive management are also announced. Matthew McGahan is appointed as interim CEO and Robert J. Stubblefield as CFO.

Lottery.com, Inc. (NASDAQ: LTRY, LTRYW) has returned to trading on The Nasdaq Stock Market after a period of consultation with Nasdaq. Chairman Matthew McGahan expressed satisfaction with the turnaround and mentioned the company's progress in implementing disclosure and reporting rules. The company can now focus on operational aspects and international sales.

Lottery.com, Inc. has received a notice from Nasdaq indicating that the company remains in non-compliance with the Listing Rule due to not filing its Form 10-Q for the period ended March 31, 2023. The company has been actively working to cure all prior delinquent filings and has filed several reports to date. The company is committed to filing its reports as presented to the Panel to cure the remaining delinquencies.

Lottery.com has resumed ticket sales in Texas and partnered with International Gaming Alliance (IGA) to distribute Texas lottery tickets in the Dominican Republic. In its first week back in operation, Lottery.com supplied over 7 million tickets. The IGA agreement will enable official ticket sales through over 1,000 retail points in the Dominican Republic, with expected ticket supply starting in May 2023. CEO Mark Gustavson emphasized the company's recovery from a nine-month shutdown, tripled production capacity, and efforts to comply with Nasdaq Listing Rules. The company is enhancing its internal controls and looks forward to future growth opportunities.

Lottery.com (NASDAQ:LTRY)(NASDAQ:LTRYW) has appointed Nick Kounoupias as an independent director to enhance corporate governance amidst restructuring efforts to comply with Nasdaq listing rules. Kounoupias, an attorney with nearly 40 years of experience in digital and media sectors, aims to bolster the company's disclosure and reporting controls. This appointment follows a Nasdaq notice regarding the company's non-compliance linked to the failure to file its Annual Report for 2022, potentially leading to delisting. Lottery.com has appealed this determination while striving to regain compliance and focus on revenue generation. The company is also exploring growth opportunities via acquisitions in the entertainment and sports sectors.