Lottery.com regains compliance with Nasdaq listing rule after plan adjustment

Lottery.com Inc. (NASDAQ:SEGG), a micro-cap company currently trading at $4.06 with a market capitalization of $16 million, announced Thursday it has regained compliance with Nasdaq Listing Rule 5635(c), following a determination by The Nasdaq Stock Market LLC. The update was disclosed in a press release statement based on a recent SEC filing.

According to the filing, on May 8, 2025, Lottery.com received notice from Nasdaq indicating the company was not in compliance with Listing Rule 5635(c). The rule relates to shareholder approval requirements for equity compensation plans. The stock has shown significant volatility, gaining nearly 12% over the past week despite an overall WEAK financial health score, according to InvestingPro analysis.

On Thursday, Nasdaq informed Lottery.com that the company has now regained compliance. The decision follows Lottery.com’s retroactive action to abandon its 2023 Employees’, Directors’ and Consultants Stock Issuance and Option Plan. Instead, the company reflected that ad hoc grants were made under the 2021 Incentive Award Plan.

Nasdaq has closed the compliance matter, according to the company’s statement.

Lottery.com’s common stock and warrants continue to be listed on The Nasdaq Stock Market LLC under the symbols SEGG and LTRYW, respectively.

This information is based on a press release statement and details provided in the company’s SEC filing.

In other recent news, SEGG Media Corporation has been active with several strategic moves and developments. The company has reported a significant structural change by completing a 1-for-10 reverse stock split, which adjusted the trading of its common stock on Nasdaq. This move did not alter the total number of authorized shares but consolidated every ten shares into one. Furthermore, SEGG Media announced plans to acquire a controlling 51% stake in DotCom Ventures for $5 million, with the transaction expected to close shortly.

In another strategic investment, SEGG Media has entered agreements to potentially acquire up to a 51% stake in Veloce Media Group through a staged investment approach. On the analyst front, Noble Capital has initiated coverage on SEGG Media with an Outperform rating, setting a price target of $20.00. Additionally, SEGG Media recently concluded its inaugural Racing Women Training Camp at Silverstone, which aimed to prepare female drivers for motorsport careers. These developments highlight SEGG Media’s active pursuit of growth and diversification in its business operations.

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