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Lottery.com, Inc. Warrants - LTRYW STOCK NEWS

Welcome to our dedicated page for Lottery.com Warrants news (Ticker: ltryw), a resource for investors and traders seeking the latest updates and insights on Lottery.com Warrants stock.

Lottery.com Inc is a leading provider of domestic and international lottery products and services. The company offers a platform for remote purchase of legally sanctioned lottery games in the U.S. and abroad. Revenue is generated through the Lottery.com app and website, allowing remote purchase of lottery games. The recent software purchase agreement with WA.Technology marks a global expansion phase in Africa, the Pacific Region, Brazil, and parts of Latin America, enhancing Lottery.com's operations. This strategic partnership aims to grow the Lottery.com brand and revenue stream, leveraging WA.Technology's iGaming solutions.

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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.

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Lottery.com (NASDAQ:LTRY)(NASDAQ:LTRYW) has appointed Mark Gustavson as its new Chief Executive Officer, effective February 1, 2023, replacing Sohail S. Quraeshi. Gustavson brings 17 years of extensive business experience, having held senior positions in various tech firms. He was previously CEO at ZENIOS Technologies and has been involved in successful expansions, including acquiring Sansar. The Board of Directors is yet to determine his compensation. Chairman Matthew McGahan expressed confidence in Gustavson's ability to drive Lottery.com’s turnaround strategy and enhance its operational capacity and revenue streams.

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Lottery.com (NASDAQ: LTRY, LTRYW) announced a strategic partnership with the Saudi Motorsport Company (SMC) coinciding with the FIA World Touring Car Cup in Jeddah. This partnership involves branding and advertising around the event, laying the groundwork for a future joint venture. Sports.com, Lottery.com’s subsidiary, is set to revolutionize sports entertainment, offering live and on-demand content globally. SMC aims to promote motorsport events in Saudi Arabia and expand its international appeal. Both companies anticipate future collaborations to enhance sports viewing experiences.

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Lottery.com, based in Austin, Texas, announced a delay in filing its Quarterly Reports on Form 10-Q for the quarters ended June 30 and September 30, 2022, due to ongoing reviews of its internal accounting controls. The company received a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) due to the filing delinquencies. The deadline for submitting a plan to regain compliance has been shortened to December 1, 2022. The company intends to file the reports promptly to comply with Nasdaq regulations.

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Lottery.com has announced an exclusive multi-year partnership with Data Sports Group for its subsidiary, Sports.com. This collaboration will provide world-class sports content to digital publishers, covering major leagues including the NFL, NBA, MLB, NHL, and more. The content will feature live scoring, standings, and schedules, available via an API or as integrated content. The partnership aims to enhance the offerings of both brands and leverage Lottery.com's experience in data provision. This platform is set to cater to existing and new clients globally.

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Lottery.com, Inc. (LTRY, LTRYW) announces significant leadership changes, appointing Matthew H. McGahan as Chairman of the Board, alongside new directors Barney Battles and Naila Chowdhury. McGahan's experience in corporate turnarounds aims to guide the company through a revitalized growth strategy amid a changing business environment. Battles brings expertise in gaming and financial discipline, while Chowdhury focuses on building global business partnerships. These appointments are seen as critical steps in enhancing the company's governance and strategic capabilities.

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Lottery.com has announced the appointment of Yusufali & Associates, LLC as its new independent registered public accounting firm for financial reviews and audits. This change comes alongside the recent appointment of new board members, an interim CEO, and an interim CFO. Sohail Quraeshi, the CEO, expressed confidence in Yusufali’s extensive experience to heighten the company's financial accountability. This marks a pivotal moment for Lottery.com, emphasizing a commitment to improved financial processes.

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Lottery.com has announced a delay in filing its Form 10-Q for the quarter ended June 30, 2022, due to ongoing reviews of its financial statements and internal accounting controls. This delay has led to a notice from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1). The company has a grace period until August 31, 2022, to file the required report or submit a compliance plan. Additionally, Lottery.com has furloughed most employees as it lacks enough financial resources to sustain operations. The company is actively working to rectify its compliance issues.

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Lottery.com reported first quarter 2022 revenue of $21.2 million, a significant increase of 287% from the same period last year. Gross profit rose to $18.0 million, up 620%, while the company faced a net loss of $15.8 million, widening from $5.5 million a year earlier. Adjusted EBITDA improved to $7.7 million, driven by strong sales of LotteryLink credits despite increased personnel costs. Cash reserves stood at $50.8 million, bolstered by a previous business combination. The company is pursuing new B2C initiatives and expanding its LotteryLink affiliate network.

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Lottery.com has announced a conference call scheduled for May 16, 2022, at 8:30 a.m. ET to discuss its first-quarter results for the period ending March 31, 2022. A press release with detailed results will be issued before the call. Interested parties can join via telephone by dialing 877-313-2495 or 929-517-0906 for international calls, using conference code 9189693. A live webcast will be available on Lottery.com’s Investor Relations page, along with a replay for those unable to listen live.

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FAQ

What is the current stock price of Lottery.com Warrants (ltryw)?

The current stock price of Lottery.com Warrants (ltryw) is $0.0088 as of December 20, 2024.

What services does Lottery.com Inc provide?

Lottery.com Inc offers domestic and international lottery products and services, focusing on remote purchase of legally sanctioned lottery games.

What is Lottery.com Inc's revenue generation model?

Lottery.com generates revenue through its app and website, allowing users to remotely purchase lottery games.

What was the recent announcement involving WA.Technology and Lottery.com Inc?

WA.Technology and Lottery.com Inc entered into a strategic partnership marked by a software purchase agreement, aiming to expand Lottery.com's operations globally and grow its revenue stream.

Which regions are part of the global expansion strategy by Lottery.com Inc?

The global expansion strategy includes Africa, the Pacific Region, Brazil, and Latin America, leveraging WA.Technology's iGaming solutions to enhance Lottery.com's presence and revenue potential.

What is the core goal of the partnership between WA.Technology and Lottery.com Inc?

The partnership focuses on growing the Lottery.com brand and revenue stream by leveraging WA.Technology's iGaming solutions and operational expertise in expanding into new global markets.

Lottery.com, Inc. Warrants

Nasdaq:LTRYW

LTRYW Rankings

LTRYW Stock Data

10.12M
Services-prepackaged Software
United States of America
FT. WORTH