Lottery.com Regains Nasdaq Compliance

12.04.2024

Lottery.com has restored its compliance with Nasdaq’s Listing Rule 5450(b)(1)(C), as confirmed by the receipt of a formal notification from the Listing Qualifications Staff of The Nasdaq Stock Market LLC.

This news comes after the company maintained a minimum market value of publicly held shares (MVPHS) of $5,000,000 or more for ten consecutive business days. The resolution of this issue marks the close of the compliance matter, setting a positive tone for the company’s future operations.

CEO Emphasizes Strong Governance

Matthew McGahan, CEO of Lottery.com, highlighted the significance of this development, stating that regaining full Nasdaq compliance represents a great achievement for both the company and its shareholders.

“Regaining full compliance with Nasdaq is a pivotal milestone for Lottery.com and its shareholders. This underscores the success of our decision to focus on good corporate governance, operational integrity, and financial transparency. Our status as a Nasdaq-listed entity is essential to our business framework. It fosters a democratic approach to decision-making, empowering a broad spectrum of stakeholders to actively shape the trajectory of innovative ventures and opportunities at both Lottery.com and Sports.com. We are here to serve the interests of all our shareholders and won’t be swayed by a small minority represented by discredited individuals with vested self-interests,”  said McGahan

Commitment to Innovative Growth

McGahan also expressed optimism about the company’s capacity to innovate and expand within the gaming and sports betting industries.

“The current management team has worked diligently on the business turnaround in the face of many headwinds and the Company is now well positioned to push the boundaries in the gaming and sports sectors, taking advantage of revenue generating opportunities in order to maximize shareholder value. I would like to thank our shareholders for their ongoing trust and support in the management team. Additionally, I would like to personally express my appreciation to our entire team for their continued dedication and support,” added the CEO of Lottery.com.