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Lottery.com | 8-K: Current report

SEC announcement · Feb 9 17:25

LTRY -0.55%

Summary by Moomoo AI

On February 5, 2024, Lottery.com Inc., a leading online lottery services provider, announced the signing of a Memorandum of Understanding (MOU) with WA Technology Group Limited (WATG). Under the MOU, Lottery.com will issue $500,000 in restricted common stock to WATG at $3.00 per share. A second payment of equivalent value is due in five years and two months, based on the market value of the stock at that time. Additionally, Lottery.com will appoint a WATG representative as a consultant to aid in global expansion. The partnership grants Lottery.com a license for WATG's Lottery Player & Account Management Software and access to WATG's iGaming solutions. This collaboration aims to grow the Lottery.com brand and operations worldwide, with a definitive agreement to follow. The details of the MOU will be included in Lottery.com's upcoming 10-K filing. Concurrently, a press release on February 7, 2024, detailed a purchase agreement with WA.Technology to expand Lottery.com's global reach, particularly in Africa, the Pacific Region, Brazil, and Latin America. The agreement includes a suite of services to support Lottery.com's expansion, leveraging WA.Technology's iGaming platform and operational expertise.

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