Lottery.com, Inc. Appoints Accomplished Industry Leader Christopher Gooding as Non-Executive Director
August 14 2023 - 6:00AM
Lottery.com, Inc. (NASDAQ: LTRY, LTRYW) ("Lottery.com" or the
"Company") names Christopher Anderson Gooding to its board of
directors. His appointment is another important step in a new era
of compliance with Nasdaq for the Company.
Christopher Gooding brings decades of service at respected law
firms, predominantly within the heart of London's financial
district. His professional journey began as an Assistant Solicitor
at Clifford Turner in London and Dubai, advancing to a 15-year
tenure at Clyde & Co. A consummate legal strategist, he also
served as a partner at LeBoeuf Lamb Greene & MacRae and Howard
Kennedy. Notably, from 1999 to 2009, he held the position of
Director at the Sovereign Trade Corporation. Adding to his diverse
portfolio, Gooding subsequently held partner roles at Fasken
Martineau and Nabarro LLC (now CMS). Since 2022, he has honed his
expertise as a Consultant at Crowell and Morsing.
Of significance is Gooding’s extraordinary fusion of legal
finesse with a substantial involvement in the corporate landscape.
His credentials include being a founding director of a substantial
NY-based hedge fund valued at over $500 million. He has also been a
guiding presence on the Boards of UK-based companies spanning
aviation, insurance, and cutting-edge startups, as well as
spearheading initiatives in the green energy and aviation sectors.
His hands-on spirit propelled the creation of a boutique hotels
group in Morocco, a project he actively designed. The Lottery Board
will benefit from Gooding’s insightful perspectives backed by his
vast experience across an array of commercial realms.
This announcement comes on the heels of last week's news of
overwhelming shareholder approval for the Company's strategic
reverse stock split initiative, which capped the last requirement
for the Company to regain full compliance with Nasdaq’s listing
rules. The shareholders also supported the election of Nick
Kounoupias as a Class II Director.
Leveraging fortified corporate governance, underpinned by a
stalwart board and solid financial backing from UCIL, Lottery.com
is now focusing on resuming operations in three major segments of
its business model before the end of 2023. The Company anticipates
new revenue streams from B2C ticket sales, international expansion,
and technology licensing.
Christopher Gooding commented:
"My legal career has been characterized by crafting innovative
commercial solutions to tackle unique client challenges.
Identifying latent issues and orchestrating proactive solutions has
been a hallmark of my approach. I am thrilled to contribute these
proficiencies and more to a Board already steeped in profound
insight and strategic acumen."
Lottery.com Board Chairman and Interim CEO Matthew
McGahan added:
"We extend a very warm welcome to Christopher. The appointment
of an individual of his stature enriches our Board substantially.
His legal acumen, coupled with a deep understanding of corporate
governance, greatly augments our combined senior leadership
experience. Bolstered by these strategic appointments and solid
UCIL financing, we now have a much more robust operational and
financial foundation to execute on our business plan. As we lean in
to the second half of our fiscal year, our strategy's central
interest is to restore the Company’s revenue-driving operations.
Our business is easily scalable, contains inherent potential and we
look forward to updating the market on these and other positive
developments in due course."
For more information please contact:
ir@lottery.com , or visit:
http://www.lottery.com
About Lottery.com, Inc.
Lottery.com, Inc. is a leading technology
company that is transforming how, where and when lotteries are
played. Its engaging mobile and online platforms enable players and
commercial partners located throughout the United States and other
countries to remotely purchase safe and legally sanctioned lottery
games. Lottery participants look to the Company’s website,
Lottery.com, for compelling, real-time results on over 800 lottery
games from over 40 countries. In all that it does, Lottery.com’s
mission remains the same: an uncompromising passion to innovate,
grow a new demographic of enthusiasts, deliver responsible and
trusted solutions, and promote community and philanthropic
initiatives.
Important Notice Regarding
Forward-Looking Statements
This press release contains statements that
constitute “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended (the
“Securities Act”), and Section 21E of the Securities Exchange Act
of 1934, as amended (the “Exchange Act”). All statements, other
than statements of present or historical fact included in this
press release, regarding the company’s future financial
performance, as well as the company’s strategy, future operations,
revenue guidance, projected costs, prospects, plans and objectives
of management are forward-looking statements. When used in this
press release, the words “could,” “should,” “will,” “may,”
“believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,”
the negative of such terms and other similar expressions are
intended to identify forward-looking statements, although not all
forward-looking statements contain such identifying words. These
forward-looking statements are based on management’s current
expectations and assumptions about future events and are based on
currently available information as to the outcome and timing of
future events. Except as otherwise required by applicable law,
Lottery.com disclaims any duty to update any forward-looking
statements, all of which are expressly qualified by the statements
in this section, to reflect events or circumstances after the date
of this press release. Lottery.com cautions you that these
forward-looking statements are subject to numerous risks and
uncertainties, most of which are difficult to predict and many of
which are beyond the control of Lottery.com. In addition,
Lottery.com cautions you that the forward-looking statements
contained in this press release are subject to the following
factors: (i) the outcome of any legal proceedings that may be
instituted against Lottery.com; (ii) the Company’s ability to
maintain effective internal controls over financial reporting,
including the remediation of identified material weaknesses in
internal control over financial reporting relating to segregation
of duties with respect to, and access controls to, its financial
record keeping system, and its accounting staffing levels; (iii)
the effects of competition on Lottery.com’s future business; (iv)
risks related to its dependence on its intellectual property and
the risk that technology could have undetected defects or
errors; (v) changes in applicable laws or regulations; (vi) risks
related to the COVID-19 pandemic or other pandemic and their effect
directly on Lottery.com and the economy generally; (vii) risks
relating to privacy and data protection laws, privacy or data
breaches, or the loss of data; (viii) the possibility that the
Company may be adversely affected by other economic, business,
and/or competitive factors; (ix) the ability of Lottery.com to
achieve its strategic and growth objectives as stated or at all;
and (x) those factors discussed in the proxy statement/prospectus
filed by Lottery.com, Inc. with the U.S. Securities and Exchange
Commission (“SEC”) under the heading “Risk Factors” and the other
documents filed, or to be filed, by the Company with the SEC.
Should one or more of the risks or uncertainties described in this
press release materialize or should underlying assumptions prove
incorrect, actual results and plans could differ materially from
those expressed in any forward-looking statements. Additional
information concerning these and other factors that may impact the
operations and projections discussed herein can be found in the
reports that Lottery.com has filed and will file from time to time
with the SEC. These SEC filings are available publicly on the SEC’s
website at www.sec.gov.
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