Summary by Futu AI
Lottery.com, a provider of domestic and international lottery products and services, has announced its financial performance and business developments for the quarter ended June 30, 2024. Financially, the company reported a net loss of $5.9 million for the quarter, with revenue at $256,997, a decrease from the previous year's $655,344. The cost of revenue stood at $45,570, resulting in a gross profit of $211,427. Operating expenses, including personnel costs, professional fees, and general and administrative expenses, totaled $6,101,121. The company's future plans include a three-phase strategy to recommence operations, with an initial focus on relaunching its B2B API platform, followed by the resumption of its B2C platform operations, and eventually restoring other business lines and projects. Despite the operational cessation, subsidiaries like Aganar and JuegaLotto continued to operate, and the company acquired the domain Sports.com, which is expected to contribute to future growth. The company's stock and warrants are currently traded on Nasdaq under the symbols 'LTRY' and 'LTRYW,' respectively.