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Lottery.com Inc. (NASDAQ:LTRY), which has seen its stock surge over 140% in the past six months and maintains impressive gross profit margins of 61%, announced Wednesday that references to a "2023 Incentive Award Plan" in its filings with the Securities and Exchange Commission from October 2023 to April 2025 were incorrect. The company clarified that it does not have a 2023 Incentive Award Plan, and that all such references should instead refer to "The Lottery.com 2021 Incentive Award Plan."
Lottery.com stated that the 2021 Incentive Award Plan was approved by shareholders and registered by the company on Form S-8 dated April 6, 2022. According to the company, all awards granted from October 2023 onward have been made in accordance with the 2021 plan. InvestingPro analysis reveals the company currently operates with a moderate debt level, though its short-term obligations exceed liquid assets with a current ratio of 0.52.
This information is based on a press release statement included in the company’s latest SEC filing.
In other recent news, Lottery.com Inc. has announced its plans to launch a Sports.com Super App in the third quarter of 2025, focusing on soccer and motorsport content. The company has signed a Letter of Intent to acquire a 51% controlling interest in sports and technology assets from Galaxy Racer Holdings Limited, valued at $10 million pre-money. Additionally, Lottery.com has entered a $300 million stock purchase agreement with Generating Alpha Ltd., allowing the latter to purchase up to $300 million of Lottery.com’s common stock. In executive updates, Tim Scoffham has been appointed as the CEO of Sports.com Media Group Limited and Lottery.com International Limited, bringing over 20 years of leadership experience. Meanwhile, actor and producer Tamer Hassan has been named president of the newly formed Sports.com Studios, focusing on film and original programming. The company has also regained compliance with Nasdaq’s minimum bid price requirement, resolving a compliance issue with the exchange. These developments come as Lottery.com continues to expand its digital and entertainment offerings.
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