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Lottery.com Receives Expected Notice from Nasdaq Related to Delayed Filing of Quarterly Report on Form 10-Q

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AUSTIN, Texas, Aug. 23, 2022 (GLOBE NEWSWIRE) — As previously disclosed in the Lottery.com Inc. (the “Company”) Notification of Late Filing on Form 12b-25, filed with the Securities and Exchange Commission (the “SEC”) on August 16, 2022, the Company has not yet finalized its reviews of its financial statements or its assessment of the impact of the findings of the ongoing review of the Company’s internal accounting controls on its historical financial statements or for the financial statements for the quarter ended June 30, 2022, and is therefore unable to file its Quarterly Report on Form 10-Q for the period ended June 30, 2022 (the “Form 10-Q”) on a timely basis. The Company is working toward filing the Form 10-Q as soon as practicable, but was unable to file it by the prescribed due date.

On August 17, 2022, the Company received a notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, as a result of not having timely filed the Form 10-Q with the SEC, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”), which requires timely filing of all required periodic financial reports with the SEC.

Additionally, the Notice indicated that under the Nasdaq Listing Rules, a company normally has 60 calendar days to submit a plan to regain compliance, but that the Nasdaq staff has determined to shorten the deadline for the Company to submit its plan to August 31, 2022, pursuant to the staff’s discretionary authority set forth in Nasdaq Listing Rule 5101.

The Company can regain compliance with Nasdaq’s Listing Rules at any time prior to August 31, 2022 by filing the Form 10-Q. If the Company fails to file the Form 10-Q by such date, the Company may submit a plan to regain compliance with the Listing Rule prior to such date and, following receipt of such plan, Nasdaq may grant, at its sole discretion, an extension of 180 calendar days from the Form 10-Q due date or February 13, 2023, for the Company to regain compliance.

While the Company can provide no assurances as to timing, the Company plans to file the Form 10-Q as soon as practicably possible to regain compliance with the Listing Rule.

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The Company has also received, and intends to cooperate with, two letters from Nasdaq, requesting certain information relating to matters disclosed in our Current Reports on Form 8-K filed with the SEC on July 6, 2022, July 15, 2022, July 22, 2022 and July 29, 2022.

About Lottery.com

The Company has operated as a technology company that sought to transform how, where and when lottery was played and additionally provided compelling, real-time results on more than 800 lottery games from more than 40 countries. Effective July 28, 2022, the Board of Directors of the Company determined that the Company does not currently have sufficient financial resources to fund its operations or pay certain existing obligations, including its payroll and related obligations. Accordingly, the Company furloughed the majority of its employees effective July 29, 2022, and as a result, ceased material operations as of such date. For more information on the Company, visit http://www.lottery.com and for the Company’s filings with the SEC, visit https://ir.lottery.com/financials-filings/sec-filings.

Forward Looking Statements

This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this press release, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K filed by the Company with the SEC on April 1, 2022, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.

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CONTACT: Lottery.com Contact:
[email protected]

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Lottery.com Restarts U.S. Sweepstakes Operations at the F1 Miami Grand Prix

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First U.S. Activation in Two Years Combines Charity, Sports, and High-Octane Excitement

FORT WORTH, Texas, April 22, 2025 (GLOBE NEWSWIRE) — Lottery.com Inc. (Nasdaq: LTRY, LTRYW), a leading technology company transforming how the world plays the lottery and engages with charitable sweepstakes, is proud to announce a major milestone: its first operational initiative combining charitable sweepstakes with Sports.com, a member of the Lottery.com family of brands. As part of this exciting activation, Lottery.com is supporting the WinTogether Trust in the launch of the “Donate To Win™ F1 Miami Grand Prix Sweepstakes,” a high-profile fundraising initiative benefiting the WinTogether Trust and their charitable initiatives in Florida. The sweepstakes features an exclusive $20,000 VIP experience at the F1 Miami Grand Prix (May 1–4, 2025). Entries are accepted until April 24 at https://donateto.win.

Matthew McGahan, Chairman and CEO of Lottery.com, said:

“This marks a pivotal moment for Lottery.com. For the first time, our company is blending charitable gaming operations with Sports.com, and we couldn’t be more proud that this milestone aligns with such an incredible cause—supporting young Floridians in the field of cybersecurity. While the public sponsor for this campaign is Sports.com, this initiative has been driven by the Lottery.com leadership and vision, and the expertise of the WinTogether Trust board of directors. We are all immensely pleased to have reached this stage after Lottery.com’s operational absence from the American market. The entire team and I are genuinely excited to be able to deploy the Company’s resources, which have been exclusively focused on the turnaround, toward this key U.S. initiative at such a prestigious event, the F1 Miami Grand Prix, and for such a meaningful and impactful charitable cause.

We know this is exactly what our shareholders and investors have been anticipating—tangible activity in the U.S. market. This launch marks the beginning of an exciting new chapter for Lottery.com, and we are committed to delivering more high-profile, purpose-driven opportunities in the months ahead.”

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About the Sweepstakes

Participants can win a once-in-a-lifetime VIP experience including:
– Guided track and pit lane tour
– Championship trophy photo opportunity
– Starting grid Grandstand seats across all race days
– Access to the exclusive “Inside F1®” hospitality venue
– Private garage tour with a participating F1® team

No donation is necessary to enter or win. The sweepstakes is open to Florida residents 18 and over and ends April 24, 2025.

A Week of Daily Updates Ahead

Lottery.com will issue a series of press releases and social media activations over the next seven days, leading up to the sweepstakes draw on April 25 and the F1 Miami Grand Prix weekend (May 2–4).

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For full sweepstakes details and rules, visit: www.donateto.win

About DonateTo.win: DonateTo.Win is a platform that offers sweepstakes that support charitable causes selected by the trustees of WinTogether and incentivizes participants to donate to those chosen causes by donors entering sweepstakes for the chance to win cash prizes, luxury items, and exceptional experiences. The WinTogether Trust is a registered 501c(3) organization, which supports charitable, educational, and scientific causes.

About Sports.com: Sports.com is a brand of Lottery.com Inc. (Nasdaq: LTRY, LTRYW). It is building to be the premier destination for live and produced sports entertainment, offering an unparalleled array of interactive and engaging content. For more information, visit www.sports.com.

Important Notice Regarding Forward-Looking Statements 

This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with the Bid Price Requirement, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on June 4, 2024, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.

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This press release was published by a CLEAR® Verified individual.

CONTACT: For media inquiries, contact: [email protected]

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Nasdaq:LTRY

Lottery.com Secures Ninth Legal Dismissal

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FORT WORTH, Texas, April 11, 2025 (GLOBE NEWSWIRE) — Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or the “Company” or the “Defendant”), a leading technology company in digital lottery and sports entertainment, today announced another significant legal victory on April 9, 2025 as the United States District Court for the Western District of Texas denied a motion for reconsideration brought by Yes Period, LLC. The case styled Yes Period, LLC d/b/a Serenity Software v. Lottery.com, Inc. d/b/a Sports.com Inc. d/b/a AutoLotto.com, Inc. (Case No. 1-23-CV-00616), originally dismissed without prejudice in November 2024, remains dismissed, marking the ninth lawsuit dismissed since the appointment of the Company’s new leadership team.

This outcome adds to the growing track record of successful litigation outcomes achieved under Lottery.com’s revitalized governance structure and legal strategy—delivering tangible results in clearing legacy challenges and restoring operational integrity.

Matthew McGahan, CEO of Lottery.com, stated:
Lottery.com is, of course, delighted with this outcome. It is yet another case we have fought, won, and had dismissed. This marks the ninth such dismissal since our new management and turnaround team were appointed—a clear signal to our shareholders that our strategy is working. We remain laser-focused on delivering long-term value, building trust in the capital markets, and positioning the business for sustainable growth.”

In the Court’s latest ruling, the Judge reaffirmed that the Plaintiff failed to prosecute its claims in a timely and compliant manner and found no justification to modify the original dismissal. This result reflects the Company’s efforts to resolve legal overhangs while preserving its resources and protecting shareholder interests.

Important Notice Regarding Forward-Looking Statements 

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This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with the Bid Price Requirement, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on June 4, 2024, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.

CONTACT: For more information, please visit www.lottery.com or contact our media relations team at [email protected].

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Three Lawsuits Against Lottery.com and Sports.com Dismissed With Prejudice

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FORT WORTH, Texas, March 28, 2025 (GLOBE NEWSWIRE) — Lottery.com Inc. (Nasdaq: LTRY, LTRYW) (“Lottery.com” or the “Company”), a leading technology company in digital lottery and sports entertainment, announces the following favorable judgements from the United States District Court for the Western District of Texas – Austin Division (the “Court”):

  • The Court has ruled in favor of the Company granting with prejudice the Motion to Dismiss for Failure to State a Claim in the case styled Ryan Peterson v. Lottery.com, Inc. d/b/a Sports.com Inc. d/b/a AutoLotto.com, Inc. (Case No. 1-23-CV-646-RP). The final judgement was signed on March 27, 2025.
  • The Court has ruled in favor of the Company granting with prejudice the Motion to Dismiss for Failure to State a Claim in the case styled Brandon Marsh v. Lottery.com, Inc. d/b/a Sports.com Inc. d/b/a AutoLotto.com, Inc. (Case No. 1-23-CV-080-RP). The final judgement was signed on March 4, 2025.
  • The Court has ruled in favor of the Company granting with prejudice the Motion to Dismiss for Failure to State a Claim in the case styled Carl Wells v. Lottery.com, Inc. d/b/a Sports.com Inc. d/b/a AutoLotto.com, Inc. (Case No. 1-23-CV-081-RP). The final judgement was signed on January 25, 2025.

Matthew McGahan, Lottery.com Chairman and CEO commented:
“I am gratified by the Court’s ruling in the Company’s favor. Receiving these favorable judgments allows us to focus our resources on resuming gaming operations, building the Sports.com brand and most importantly delivering value to our shareholders. I am also delighted at the forward momentum our new management team is creating for Lottery.com. We’re successfully resolving legacy legal matters and shifting our attention towards steering the Company towards a new era of growth within an environment of accountability and transparency.”

In all three cases, the court ordered and adjudged that:

  • The Defendants’ Motions to Dismiss were granted;
  • The Plaintiffs’ Complaints were dismissed with prejudice;
  • All pending deadlines and hearings were terminated;
  • All other pending motions were denied as moot; and
  • The Clerk of the Court was directed to close the cases.

These rulings signify the final dismissal of all claims against the Company. As the cases were dismissed with prejudice, the Plaintiffs are barred from refiling the same claims in this form.

Important Notice Regarding Forward-Looking Statements 

This press release contains statements that constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding the Company’s strategy, future operations, prospects, plans and objectives of management, are forward-looking statements. When used in this Form 8-K, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” “initiatives,” “continue,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. The forward-looking statements speak only as of the date of this press release or as of the date they are made. The Company cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of the Company. In addition, the Company cautions you that the forward-looking statements contained in this press release are subject to risks and uncertainties, including but not limited to, any future findings from ongoing review of the Company’s internal accounting controls, additional examination of the preliminary conclusions of such review, the Company’s ability to secure additional capital resources, the Company’s ability to continue as a going concern, the Company’s ability to respond in a timely and satisfactory matter to the inquiries by Nasdaq, the Company’s ability to regain compliance with the Bid Price Requirement, the Company’s ability to regain compliance with Nasdaq Listing Rules, the Company’s ability to become current with its SEC reports, and those additional risks and uncertainties discussed under the heading “Risk Factors” in the Form 10-K/A filed by the Company with the SEC on June 4, 2024, and the other documents filed, or to be filed, by the Company with the SEC. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in the reports that the Company has filed and will file from time to time with the SEC. These SEC filings are available publicly on the SEC’s website at www.sec.gov. Should one or more of the risks or uncertainties described in this press release materialize or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Except as otherwise required by applicable law, the Company disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release.

This press release was published by a CLEAR® Verified individual.

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CONTACT: For more information, please visit www.lottery.com or contact our media relations team at [email protected].

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