Lottery.com has been notified that it has regained compliance with Nasdaq Listing Rule 5450(b)(1)(C).
This rule relates to a company having a market value of publicly held shares of at least $5m, which Nasdaq states Lottery.com has achieved.
The company did so by maintaining a minimum market value of publicly held shares of $5m or greater for the last 10 consecutive business days.
Lottery.com, after regaining full compliance with the rule, now considers the matter closed and believes it will now pave the way for future growth.
Lottery.com CEO Mr. Matthew McGahan said: "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.
“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."
Similarly, back in February, SharpLink Gaming received full compliance status with Nasdaq, meaning the company could continue trading ordinary shares on the exchange.
This week also saw Inspired Entertainment handed a standard notification letter from Nasdaq, stating it was not in compliance with the requirements of Nasdaq Listing Rule 5250(c)(1) over a failure to file its Form 10-K on time, in relation to its full-year 2023 results.
