Summary by Moomoo AI
Lottery.com Inc., a provider of lottery products and services, has resumed limited B2B API operations in April 2023 after ceasing operations in July 2022 due to financial issues. The company plans to relaunch its B2C platform by mid-2024, leveraging key assets including the Lottery.com and Sports.com domain names, distribution partnerships, and a proprietary blockchain-enabled gaming platform.Despite these efforts, Lottery.com faces significant financial challenges, including substantial net losses and negative cash flows. The company is seeking additional capital to fund operations and has entered into various loan agreements. It is also subject to legal and regulatory challenges, including a class action lawsuit alleging securities law violations and disputes with former partners and creditors.Recent financing activities include an offering of convertible debt and warrants in December 2023 and a Stock Purchase Agreement with Generating Alpha Limited in November 2024. The new management team is focused on restarting core operations, but substantial doubt remains about the company's ability to continue as a going concern.
