Business Context and Reporting Period
Company: Lottery.com Inc. (Note: Request metadata listed "Sports Entertainment Gaming Global Corp," but the filing identifies Lottery.com Inc.)
Filing Type: Form 8-K (Current Report)
Date of Report: October 28, 2024
Reporting Period: Event date October 28, 2024
Key Financial Metrics
This filing does not contain financial statements, revenue, profit, cash flow, margin, debt, or liquidity data. The report focuses exclusively on regulatory compliance status regarding Nasdaq listing requirements.
Material Changes
The Company received a written notice from Nasdaq indicating it no longer meets the minimum requirement for the Market Value of Publicly Held Shares (MVPHS). Specifically, the MVPHS fell below the required $5,000,000 threshold over the last 30 consecutive business days.
Guidance, Outlook, and Risks
- Compliance Period: The Company has been granted a 180-calendar day grace period to regain compliance, expiring on April 28, 2025.
- Path to Compliance: To avoid delisting, the Company must achieve an MVPHS of $5,000,000 or more for a minimum of ten consecutive business days at any time during the grace period.
- Delisting Risk: If the Company fails to regain compliance by April 28, 2025, its securities will be subject to delisting from The Nasdaq Stock Market LLC.
- Securities Affected: Common Stock (LTRY) and Warrants (LTRYW).
Investor Verification Checklist
- Verify the current Market Value of Publicly Held Shares (MVPHS) to assess proximity to the $5,000,000 threshold.
- Monitor daily closing prices and trading volume to track progress toward the 10-day consecutive compliance requirement.
- Review subsequent filings for any updates on the Company's plan to regain compliance or potential delisting notifications.
- Confirm the status of the 180-day grace period expiration date (April 28, 2025).