Wed, Apr 9, 8:18 PM (44 days ago)
### Summary of Lottery.com Inc. (LTRY) 10-K/A Filing **Financial Performance:** - **Revenue:** $7.02 million for the year ended December 31, 2023, a 4% increase from $6.78 million in 2022. - **Net Income:** Net loss of $25.77 million for 2023, a 57% improvement from a net loss of $60.38 million in 2022. - **Operating Expenses:** $26.51 million in 2023, a 55% decrease from $58.34 million in 2022. - **Earnings per Share:** Not explicitly stated, but the company reported a net loss. **Strategic Overview:** - **Operational Cessation:** The company ceased operations in July 2022 due to financial constraints and is in the process of restarting. - **Restart Plan:** The company has a three-phase plan to recommence operations, focusing on technology, product, and service enhancements. - **Investment Commitments:** The company has received investment commitments from United Investments Capital London and others. **Future Outlook:** - **B2C Platform:** Expected to become operational by mid-2024. - **B2B API Platform:** Resumed limited operations in April 2023. - **Financial Condition:** The company has approximately $63,346 in cash and plans to rely on future borrowings to resume core operations. **Risk Factors:** - **Financial Risks:** The company faces significant financial risks, including the need for additional capital to restart operations and repay debt. - **Operational Risks:** The company's ability to restart operations and generate revenue is uncertain. - **Regulatory Risks:** The company is subject to various regulatory risks, including compliance with lottery and gaming laws. **Market Position Changes:** - **Nasdaq Listing:** The company is currently in compliance with Nasdaq's continued listing requirements but faces ongoing challenges. - **Stock Performance:** The company's stock price and trading volume could be affected by various factors, including regulatory actions and market conditions. **Amendment Details:** - **Changes:** The amendment includes updates to financial statements, risk factors, and operational plans. - **Impact:** The changes reflect the company's efforts to address legacy issues, regain compliance with Nasdaq, and restart operations. **Note:** The company's ability to continue as a going concern is subject to substantial doubt, and its financial statements do not include adjustments for potential future effects on the classification of assets or liabilities.