Lottery.com Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Lottery.com Inc. has filed its 2023 annual report, detailing its financial status and operations.</b>

AI Summary

Lottery.com Inc. (LTRYW) filed a Annual Report (10-K) with the SEC on April 3, 2024. Lottery.com Inc. filed its annual report for the fiscal year ended December 31, 2023. The company is registered in Delaware and its principal executive offices are located in Spicewood, TX. Common stock (LTRY) and warrants (LTRYW) are traded on The Nasdaq Stock Market LLC. Lottery.com Inc. is classified as a non-accelerated filer, smaller reporting company, and emerging growth company. The filing indicates the company has submitted all required reports for the preceding 12 months and the past 90 days.

Why It Matters

For investors and stakeholders tracking Lottery.com Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Lottery.com's performance and financial health for the fiscal year 2023, crucial for investors to assess the company's trajectory. The classification as a non-accelerated filer and smaller reporting company suggests specific regulatory considerations and reporting requirements that may differ from larger entities.

Risk Assessment

Risk Level: medium — Lottery.com Inc. shows moderate risk based on this filing. The company's classification as a non-accelerated filer and smaller reporting company, along with its emerging growth company status, indicates potential limitations in resources and a need for careful monitoring of its financial disclosures and compliance.

Analyst Insight

Investors should review the full 10-K filing for detailed financial statements, risk factors, and management's discussion and analysis to understand Lottery.com Inc.'s current operational and financial standing.

Key Numbers

• 20231231 — Fiscal Year End (Period covered by the report)
• 20240403 — Filing Date (Date the report was filed)
• 001-38508 — SEC File Number (Commission file number for the registrant)
• 0001673481 — Central Index Key (Registrant's unique identifier)

Key Players & Entities

• Lottery.com Inc. (company) — Filer name
• LTRY (company) — Trading symbol for common stock
• LTRYW (company) — Trading symbol for warrants
• The Nasdaq Stock Market LLC (company) — Exchange where securities are registered
• Delaware (company) — State of incorporation
• Spicewood, TX (company) — Address of principal executive offices
• Trident Acquisitions Corp. (company) — Former company name

FAQ

Industry Context

Lottery.com Inc. operates within the software and services sector, specifically focusing on prepackaged software, and is involved in the lottery and gaming industry.

Regulatory Implications

The company is subject to the reporting requirements of the Securities Exchange Act of 1934, including filing annual reports (10-K) and other necessary disclosures with the SEC.

What Investors Should Do

1. Review the full 10-K filing for detailed financial statements and management's discussion and analysis.
2. Analyze the risk factors section to understand potential challenges and uncertainties facing Lottery.com Inc.
3. Monitor future filings for updates on the company's financial performance and strategic initiatives.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-04-03: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year ended December 31, 2023, superseding previous filings for earlier periods.

Key Financial Figures

• $0.001 — ch registered Common stock, par value $0.001 per share LTRY The Nasdaq Stock Mar
• $230.00 — mon stock, each at an exercise price of $230.00 LTRYW The Nasdaq Stock Market LLC
• $39.6 m — ourth fiscal quarter, was approximately $39.6 million, calculated by using the closing
• $1.12 — date on The Nasdaq Stock Market LLC of $1.12. As of March 13, 2024, there were 4,7
• $1.9 million — as of December 31, 2023, approximately $1.9 million in outstanding payroll and other employ
• $52.5 m — greed to provide the Company with up to $52.5 million, subject to certain conditions an
• $991,000 b — ord Loan Agreement the Company received $991,000 by December 31, 2023. Woodford failed to
• $5.60 — the Loan Agreement (which was equal to $5.60 per post-reverse split share), subject
• $1 million — s from (a) making any loan in excess of $1 million or obtaining any loan in amount exceedi
• $4.20 — rther 25% discount (i.e., will equal to $4.20 per share). In connection with our en

Filing Documents

• form10-k.htm (10-K) — 1936KB
• ex10-26.htm (EX-10.26) — 497KB
• ex10-27.htm (EX-10.27) — 69KB
• ex10-28.htm (EX-10.28) — 712KB
• ex10-30.htm (EX-10.30) — 17KB
• ex21-1.htm (EX-21.1) — 4KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 11KB
• ex32-1.htm (EX-32.1) — 5KB
• ex32-2.htm (EX-32.2) — 4KB
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• 0001493152-24-013038.txt (&nbsp;) — 12164KB

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk. 69 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data. F-1 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure. 70 Item 9A.

Controls and Procedures

Controls and Procedures. 70 Item 9B. Other Information. 72 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 73 PART III 73 Item 10. Directors, Executive Officers and Corporate Governance. 73 Item 11.

Executive Compensation

Executive Compensation. 78 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. 81 Item 13. Certain Relationships and Related Transactions, and Director Independence. 82 Item 14. Principal Accounting Fees and Services. 82 PART IV 84 Item 15. Exhibits, Financial Statement Schedules. 84 Item 16. Form 10-K Summary 85 i CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND RISK FACTOR SUMMARY This Annual Report on Form 10-K (this &ldquo;Report&rdquo;) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;) and Section 21E of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), including statements about the financial condition, results of operations, earnings outlook and prospects of Lottery.com Inc. (&ldquo;Lottery.com&rdquo;, the &ldquo;Company&rdquo;, &ldquo;we&rdquo; or &ldquo;us&rdquo;). Forward-looking statements appear in a number of places in this Report, including, without limitation, under the headings in Part I, &ldquo; Item 1. Business ,&rdquo; &ldquo; Item 1A. Risk Factors ,&rdquo; and in Part II, &ldquo; Item 7. Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations. &rdquo; In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements are typically identified by words such as &ldquo;plan,&rdquo; &ldquo;believe,&rdquo; &ldquo;expect,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;intend,&rdquo; &ldquo;outlook,&rdquo; &ldquo;estimate,&rdquo; &ldquo;forecast,&rdquo; &ldquo;project,&rdquo; &ldquo;continue,&rdquo; &ldquo;could,&rdquo; &ldquo;may,&rdquo; &ldquo;might,&rdquo; &ldquo;possible,&rdquo; &ldquo;potential,&rdquo; &ldquo;predict,&rdquo; &ldquo;should,&rdquo; &ldquo;would&rdquo; and other similar words

View Full Filing

View this 10-K filing on SEC EDGAR