Business Context and Reporting Period
This Form 8-K is a current report filed by Lottery.com Inc. (trading symbol: LTRY) on May 23, 2022. The registrant is incorporated in Delaware and operates as an emerging growth company. The report addresses a corporate governance event regarding the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a personnel change and does not contain financial performance data.
Material Changes
The material change reported is the resignation of Joseph Kaminkow from the Board of Directors and the Compensation Committee. His resignation is effective June 9, 2022. Consequently, the Board size will be reduced from seven to six members. Mr. Kaminkow will not stand for re-election at the 2022 Annual Meeting scheduled for June 10, 2022.
Management Commentary and Risks
Management states that Mr. Kaminkow's decision to resign is due to increasing responsibilities in his executive roles. The filing explicitly notes that the departure is not the result of any disagreement with the Company regarding its operations, policies, or practices. The slate of director nominees for the annual meeting remains otherwise unchanged, and previously voted proxies remain valid for all other matters.
Key Facts for Investor Verification
- Joseph Kaminkow is resigning from the Board effective June 9, 2022.
- The Board size will decrease from seven to six members.
- The resignation is attributed to executive role responsibilities, not internal disagreement.
- Mr. Kaminkow will not be a nominee for re-election at the June 10, 2022 Annual Meeting.
- Existing proxy votes remain valid for all other agenda items.