Lottery.com Inc., a company specializing in lottery and gaming platforms, has faced a tumultuous period marked by financial difficulties and operational halts. In July 2022, the company ceased operations due to financial constraints but has since partially resumed with its B2B API platform. The company's securities were under threat of delisting from Nasdaq, but as of April 10, 2024, compliance was regained. To navigate through these challenges, Lottery.com entered into loan agreements with Woodford Eurasia Assets, Ltd. and United Capital Investments London Limited. Additionally, the acquisition of Global Gaming Enterprises, Inc. and the domain Sports.com signifies the company's efforts to expand and diversify internationally. Plans are underway to fully recommence operations, including relaunching the B2B API platform and resuming B2C platform...Show More

Lottery.com Inc., a company specializing in lottery and gaming platforms, has faced a tumultuous period marked by financial difficulties and operational halts. In July 2022, the company ceased operations due to financial constraints but has since partially resumed with its B2B API platform. The company's securities were under threat of delisting from Nasdaq, but as of April 10, 2024, compliance was regained. To navigate through these challenges, Lottery.com entered into loan agreements with Woodford Eurasia Assets, Ltd. and United Capital Investments London Limited. Additionally, the acquisition of Global Gaming Enterprises, Inc. and the domain Sports.com signifies the company's efforts to expand and diversify internationally. Plans are underway to fully recommence operations, including relaunching the B2B API platform and resuming B2C platform operations by mid-year 2024. The company also aims to restore other business lines and projects. An internal investigation necessitated financial restatements for the fiscal year 2021 and the first quarter of 2022 due to compliance issues. To maintain Nasdaq listing standards, a reverse stock split was implemented on August 9, 2023. Despite a net loss of $25.7 million reported for 2023, the company managed to reduce its operating expenses by 55% compared to the previous year.