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Lottery.com Inc. filed Amendment No. 1 to its Q1 2025 quarterly report to correct the corporate phone number and revise the Condensed Consolidated Statements of Cash Flows. No other sections were changed, and updated CEO/CFO certifications were included.
For the three months ended March 31, 2025, revenue was $223,849 and net loss attributable to the company was $3,306,468. Operating expenses were $3,541,363, and basic/diluted loss per share was $0.14. Net cash provided by operating activities was $924,900; investing used $1,250,000 and financing provided $697,022, ending with cash of $468,677.
On the March 31, 2025 balance sheet, total assets were $53,439,131, total liabilities were $31,532,777, and total equity was $21,906,354. Current assets were $16,459,312 versus current liabilities of $31,532,777. The company completed the acquisition of Spektrum Ltd. on March 13, 2025, valued at $1.5 million in common stock at $3 per share, supporting international operations. Management disclosed that recurring losses and liquidity constraints raise substantial doubt about continuing as a going concern.
As of August 22, 2025, 39,402,750 common shares were outstanding.
Lottery.com Inc. filed an amended current report to provide the complete Amended Stock Purchase Agreement with Generating Alpha Ltd., dated June 16, 2025. The company notes that this agreement, previously summarized in an earlier report, was inadvertently omitted as an exhibit from its Form 10-Q for the period ended June 30, 2025. This amendment primarily serves to attach the full agreement as Exhibit 10.60 for investors and regulators to review, without introducing new financial results or changing previously described terms.
Lottery.com Inc. (Nasdaq: LTRY) filed an 8-K announcing a rebranding initiative. Effective July 8, 2025, the company will do business as Sports Entertainment Gaming Global Media Corporation ("SEGG Media"). The legal corporate name remains Lottery.com Inc. until shareholders vote on a formal name change, which management expects to conclude before the end of September 2025.
The common shares will switch their trading symbol from LTRY to SEGG on the Nasdaq on July 8. The CUSIP number remains unchanged and no shareholder action is required. Existing public warrants will continue to trade under LTRYW.
Aside from the corporate identity update, the filing contains no financial metrics, transactions, or operational guidance. Therefore, the announcement is primarily administrative and branding-related, with limited immediate impact on valuation fundamentals.
Lottery.com has entered into an Amended Stock Purchase Agreement with Generating Alpha Ltd. on June 16, 2025, securing potential funding of up to $300 million through stock purchases. Key terms include:
- Investor will purchase shares at 94% of Market Price (defined as 5-day VWAP)
- Minimum Put amount of $20,000 with maximum limited to 100% of Average Daily Trading Volume
- Investor ownership capped at 4.99% of Common Stock
- Company issued 682,410 shares as Commitment Fee via prefunded warrant
- Additional 1.5% in shares (as warrants) for each $50 million tranche after first $100 million
The company, listed as an emerging growth company, trades on Nasdaq under LTRY (common stock) and LTRYW (warrants). This agreement provides significant potential funding for operations, subject to market conditions and regulatory compliance.
Lottery.com has regained compliance with Nasdaq's minimum bid price requirement after its stock maintained a closing bid price above $1.00 for twenty consecutive business days from May 21 through June 18, 2025. This development follows a previous notice of non-compliance received on May 9, 2025.
Key details:
- The company has successfully addressed its violation of Nasdaq Listing Rule 5450(a)(1)
- Nasdaq has officially closed the compliance matter
- Trading symbols: LTRY (Common Stock) and LTRYW (Warrants)
- Warrants are exercisable at $230.00 per share
The company maintains its status as an emerging growth company and continues to face various risks, including concerns about internal accounting controls, capital resources, and ability to continue as a going concern. The filing was signed by CEO Matthew McGahan on June 23, 2025.