Summary by Moomoo AI
Lottery.com has filed Amendment No. 2 to its Form 10-K for the fiscal year ended December 31, 2023, primarily to include an updated Auditor's Report. The independent auditor Yusufali & Associates expressed concerns about the company's ability to continue as a going concern, citing stockholder's deficit, net losses, and negative working capital as key risk factors.The auditor's opinion noted that the financial statements present fairly in all material respects, except for the effects of the company not filing its 2023 and 2022 federal and state corporate income tax returns. Critical audit matters highlighted in the report include revenue recognition as the core basis for financial statement restatement and other material disclosures requiring complex judgments.The company's market value held by non-affiliates was approximately $7.8 million as of December 29, 2023, with 4,780,380 shares of common stock outstanding as of May 17, 2024. The filing includes various exhibits and agreements, including loan agreements with Woodford Eurasia Assets Ltd and United Capital Investments London Limited.
