10-Q - Lottery.com Inc. (0001673481) (Filer)

Mon, May 20, 9:38 PM (56 days ago)

Lottery.com Inc. filed its 10-Q for the quarter ending March 31, 2024, revealing a 60% decline in revenue to $259K compared to the same period in 2023. The company reported a net loss of $5.75M, up from a $3.21M loss the previous year, driven by increased operating expenses, notably in professional fees and general administrative costs. Cash flow from operations was negative at $1.08M, with a cash balance of $84K at the quarter's end. The company's liabilities exceeded its assets, raising substantial doubt about its ability to continue as a going concern. Management's plans to address financial challenges include securing additional capital and resuming core operations.