Lottery.com Inc. has faced a tumultuous period marked by financial restatements and operational challenges. An internal investigation in 2022 uncovered non-compliance with laws and accounting controls, resulting in the termination of key personnel and a halt in operations. The company's financial statements for 2021 and the first quarter of 2022 were subsequently restated. Despite these setbacks, Lottery.com regained compliance with Nasdaq's listing requirements and trading resumed in June 2023. To support its operations, the company secured loans from Woodford and UCIL. A three-phase plan has been developed to restart operations, including the relaunch of its B2B API platform, the resumption of B2C operations, and the restoration of other business lines. As of the latest update, Lottery.com reported a cash balance of $63,346 and remains in compliance with Nasdaq listing requirements. The company reported a net loss of $25.7 million for 2023, with operating expenses reduced by 55% compared to the previous year. However, Lottery.com has yet to file its corporate income tax returns for 2021, 2022, and 2023, which could result in penalties.

Lottery.com Inc. has faced a tumultuous period marked by financial restatements and operational challenges. An internal investigation in 2022 uncovered non-compliance with laws and accounting controls, resulting in the termination of key personnel and a halt in operations. The company's financial statements for 2021 and the first quarter of 2022 were subsequently restated. Despite these setbacks, Lottery.com regained compliance with Nasdaq's listing requirements and trading resumed in June 2023. To support its operations, the company secured loans from Woodford and UCIL. A three-phase plan has been developed to restart operations, including the relaunch of its B2B API platform, the resumption of B2C operations, and the restoration of other business lines. As of the latest update, Lottery.com reported a cash balance of $63,346 and remains in compliance with Nasdaq listing requirements. The company reported a net loss of $25.7 million for 2023, with operating expenses reduced by 55% compared to the previous year. However, Lottery.com has yet to file its corporate income tax returns for 2021, 2022, and 2023, which could result in penalties.