05/08/2025 | Press release | Distributed by Public on 05/08/2025 15:25
Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On May 2, 2025, Lottery.com Inc. (the "Company" or "Lottery.com") received a letter from the Nasdaq Listings Qualifications Staff ("Nasdaq Staff") Indicating they had determined that the Company failed to comply with Nasdaq's shareholder approval requirements set forth in Listing Rule 5635(c) (the "Rule").
The Company was required to obtain shareholder approval under Listing Rule 5635(b) prior to the establishment of the 2023 Employees' Directors' and Consultants Stock Issuance and Option Plan (the "2023 Plan") and the Ad Hoc Grants and the shares issued in connection therewith.
Under Nasdaq Rules the Company has 45 calendar days to submit a plan to regain compliance. If the plan is accepted, Nasdaq Staff can grant an extension of up to 180 calendar days or October 26, 2025 to evidence compliance.