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Christopher Gooding, a director at Lottery.com Inc. (NASDAQ:LTRY), has sold 40,000 shares of the company’s common stock. The micro-cap company, currently valued at $12.63 million, has seen its stock surge nearly 90% over the past six months according to InvestingPro data. The transaction, which took place on February 25, was executed at a price of $1.39 per share, totaling $55,599. Following this sale, Gooding retains ownership of 276,553 shares in the company. InvestingPro analysis indicates the company faces liquidity challenges with a current ratio of 0.67, suggesting short-term obligations exceed liquid assets. InvestingPro subscribers can access 8 additional key insights about LTRY’s financial health and valuation metrics.
In other recent news, Lottery.com Inc. has successfully regained compliance with Nasdaq’s listing requirements, avoiding the need for a reverse stock split. The company met the Nasdaq Minimum Bid Price Requirement by maintaining a closing bid of $1.00 or above for twenty consecutive business days. Additionally, the market value of publicly held shares remained at $5,000,000 or above during the same period. In a strategic move to support global expansion, Lottery.com acquired Spektrum Ltd in an all-stock deal valued at $1.5 million. This acquisition is expected to enhance the company’s international market presence and support its revenue growth plans. Furthermore, Lottery.com announced the formation of a global advisory board to guide its expansion and strategic development, with industry veterans providing insights into gaming, technology, media, and compliance. The company also held its 2024 Annual Meeting, where shareholders approved the election of a Class II director and the appointment of an independent registered public accounting firm. Although a reverse stock split was approved, the Board of Directors decided not to proceed with it at this time. These developments reflect Lottery.com’s ongoing efforts to stabilize operations and pursue growth initiatives.
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