Lottery.com, Inc. Receives Expected Notice from NASDAQ Stock Market Pertaining to its 10-Q of March 31, 2023
May 24 2023 - 5:06PM
On May 18, 2023, Lottery.com, Inc. (the “Company”) received a
notice (the “Notice”) from The Nasdaq Stock Market, LLC (“Nasdaq”)
indicating that, as a result of not having timely filed its Form
10-Q for the period ended March 31, 2023 with the Securities and
Exchange Commission (“SEC”), the Company remains in non-compliance
with Nasdaq Listing Rule 5250(c)(1) (the “Listing Rule”), which
requires timely filing of all required periodic financial reports
with the SEC.
Receipt of the Notice was expected by the Company since it has
been actively working to cure all prior delinquent filings with the
SEC in accordance with a schedule submitted to the Nasdaq Hearing
Panel (the “Panel”). During the Company’s meeting with the Panel,
which occurred on April 24, 2023, the Company presented to the
Panel its timeline for completing the Company’s outstanding
financial reports. To date, the Company has filed: Form 10-K/A for
the fiscal year ended December 31, 2021 on May 10, 2023; Form
10-Q/A for the period ended March 31, 2022 on May 15, 2023; and
Form 10-Q for the period ended June 30, 2022, on May 22, 2023.
While the Company can provide no assurances as to timing, the
Company is committed to filing its reports as presented to the
Panel to cure the remaining delinquencies.
The Company will promptly respond to Nasdaq regarding the
Notice.
About Lottery.com
Lottery.com, Inc. is a leading technology company that is
transforming how, where and when lotteries are played. Its engaging
mobile and online platforms enable players and commercial partners
located throughout the United States and other countries to
remotely purchase safe and legal lottery games. Lottery
participants look to the Company’s website, Lottery.com, for
compelling, real-time results on over 800 lottery games from over
40 countries. In all that it does, Lottery.com’s mission remains
the same: an uncompromising passion to innovate, grow a new
demographic of enthusiasts, deliver responsible and trusted
solutions, and promote community and philanthropic initiatives. For
more information, 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/A filed by the Company with the SEC
on May 10, 2023 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.
Lottery.com Contact:
ir@lottery.com
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