Thu, Jun 6, 12:44 PM (50 days ago)
Lottery.com Inc. has filed an amended 10-Q for the quarter ended March 31, 2024. The amendment addresses revisions in management's discussion, controls and procedures, and exhibits. Key financial highlights include: - **Revenue**: $259K, down 58% from $620K in Q1 2023, primarily due to a decline in TinBu subsidiary revenue. - **Gross Profit**: $176K, down 70% from $585K in Q1 2023. - **Operating Expenses**: $5.8M, up 54% from $3.7M in Q1 2023, driven by a significant increase in professional fees. - **Net Loss**: $5.75M, up 79% from $3.21M in Q1 2023. - **Cash Flow**: Net cash used in operations was $1.1M, compared to $968K in Q1 2023. Financing activities provided $700K. The company continues to face uncertainties, including significant legal proceedings and the need for additional capital to support operations. Despite these challenges, Lottery.com is actively working on recommencing its core operations and addressing internal control weaknesses.