Lottery.com Regains Compliance with Nasdaq Listing Rules

Lottery.com Inc. (NASDAQ:LTRY), a Delaware-based provider of prepackaged software services with a market capitalization of $12.23 million, has successfully regained compliance with Nasdaq’s listing requirements, according to a recent 8-K filing with the Securities and Exchange Commission. While the stock has seen a significant 110% gain year-to-date, InvestingPro data shows a recent pullback of 27% in the past week. The company had previously been notified by Nasdaq of noncompliance due to its common stock’s failure to maintain the minimum bid price of $1.00 over a consecutive 30-day period, as well as its market value of publicly held shares (MVPHS) falling below the $5,000,000 threshold. Currently trading at $1.02, the stock has managed to maintain compliance, though InvestingPro analysis indicates the company faces significant financial challenges with a weak financial health score.

On March 6, 2025, Lottery.com received a letter from Nasdaq confirming that the company’s common stock had closed at a bid price at or above $1.00 for twenty consecutive business days, and the MVPHS was above $5,000,000 during the same period. As a result, the company has regained compliance with the Bid Price Listing Rule and the MVPHS Listing Rule, and Nasdaq has closed both matters.

The initial notice of noncompliance had been received on September 11, 2024, for the bid price, and on October 28, 2024, for the MVPHS. The successful resolution of these issues marks a significant turnaround for Lottery.com, ensuring its continued listing on the Nasdaq Stock Market.

The 8-K filing also included forward-looking statements highlighting potential risks and uncertainties that could affect the company’s future operations and financial performance. These risks include the possibility of future findings from ongoing reviews of the company’s internal accounting controls, the need for additional capital resources, and the ability to continue as a going concern. Financial metrics from InvestingPro underscore these concerns, revealing a current ratio of 0.67 and modest gross profit margins of 7.6%. For deeper insights into the company’s financial health and 12 additional ProTips, consider exploring InvestingPro’s comprehensive analysis platform.

Lottery.com’s CEO, Matthew McGahan, signed off on the 8-K filing dated March 7, 2025, affirming the company’s commitment to meeting regulatory standards and maintaining transparency with its investors. The information provided in this article is based on the company’s latest SEC filing.

In other recent news, Lottery.com Inc. has announced several significant developments. The company has reported its acquisition of Spektrum Ltd from PlusEVO Ltd in an all-stock deal valued at $1.5 million, aiming to enhance its international market presence and support its revenue growth plans. Furthermore, Lottery.com has opted against implementing a reverse stock split despite receiving shareholder approval for the proposal during its 2024 Annual Meeting. Another strategic move by the company includes forming a global advisory board to guide its expansion and strategic development, with Cary S. Fitchey serving as Chairman. Additionally, Lottery.com has agreed to acquire a sophisticated lottery management and gaming platform from PlusEVO Ltd, designed to support its global expansion efforts. The company has also launched its international lottery operations, targeting markets in Europe and Africa, with expectations to generate new revenue by the end of March. These recent developments reflect Lottery.com’s commitment to expanding its operations and enhancing shareholder value.

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