InconvenientReality
5 months ago
Fradulent Meeting?
A meeting of stockholders was held by lottery.com/ on November 17, 2023, proxy materials addressed to record holders were not deposited in the mail until November 13, 2023 โ just 4 days prior to the Special Meeting โ making it impossible for shareholders to sign and return a proxy by the Companyโs November 14, 2023 deadline for the return of signed proxies. Evidence of the mail date for Special Meeting proxy materials can be provided upon request. The Company also failed to provide proxy materials to banks and brokers in sufficient time for those materials to be forwarded to beneficial owners who hold their stock through those banks and brokers, a process the NYSE and SEC have each indicated requires a minimum of thirty days. Thereafter, issuing themselves tens of millions of free-trading stock. Nice job creating a NASDAQ listed pump and dump!
🧐
InconvenientReality
5 months ago
WOW!!
Lottery committed further breaches of the Woodford Loan Agreement by replacing transactional CEO and public company re-organisation specialist Mark Gustavson when he uncovered and exposed irregular activities by various board members. In an effort to conceal their wrongful actions, Matthew McGahan assumed the positions of CEO, President, Secretary, and Chairman, while Barney Battles is still Head of the Audit Committee. A simple background check on actor Tamer Hassan and the other board members shows a clear association and prior business relationship between them all and fails to satisfy the independence requirements for these directors, leaving Lottery out of compliance with the Nasdaq Majority Independent Board rule.
Lottery began rapidly losing market cap as the share value tanked from 3.3$ in late August to 1.3$ in early November.
barnyarddog
5 months ago
The Public Investment Fund is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of US$776 billion (£538 billion).[2] It was created in 1971 for the purpose of investing funds on behalf of the Government of Saudi Arabia.[3] The wealth fund is controlled by Crown Prince Mohammed bin Salman, Saudi Arabia's de facto ruler since 2015.[4][5]
https://en.wikipedia.org/wiki/Public_Investment_Fund
What is the total assets of Saudi Arabia Public Investment Fund?
The PIF's assets under management increased from 835 billion riyals ($223 billion) at the end of 2017 to 2.7 trillion riyals ($720 billion) at the end of June 2023. At the end of June, international assets accounted for 22% of the PIF's assets under management (9% in 2017) and domestic assets 78%.Dec 12, 2023
https://agsiw.org โบ going-big-assessing-the-growth-amb.
Who runs Saudi Arabia's public investment fund?
PIF - Our Leadership | Public Investment Fund. Under the chairmanship and guidance of HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, the Board is responsible for overseeing PIF's long-term strategy, investment policy and performance.
https://www.pif.gov.sa โบ Pages โบ About-OurLeadership
barnyarddog
5 months ago
Majed Al Sorour, President of Sports.com and Saudi Golf, and former Director CEO of LIV Golf and Newcastle United Football Club, said:
โOur vision for Sports.com has always been to bridge the gap between sports content and fan interaction. The launch of the Sports.com app is a key milestone in realizing that vision, offering a platform that enriches the sports viewing experience."
March 7, 2024
https://finance.yahoo.com/news/sports-com-unveils-newly-designed-161900404.html
.... Saudi Public Investment Fund advisor Majed Al Sorour....
13 May 2022
https://www.dailymail.co.uk/sport/football/article-10813527/Newcastle-appoint-CEO-Saudi-Golf-Federation-Majed-Al-Sorour-club-director.html
Willymon
1 year ago
LTRY - Under Nasdaq Listing Rule 5550(a)(2), if the bid price of our Common Stock is under $1.00 per share over a period of 30 consecutive trading days, Nasdaq may delist our Common Stock from trading.
On August 24, 2022, the Listing Qualifications department of Nasdaq (the โStaffโ) notified the Company that the bid price of its Common Stock did not comply with Listing Rule 5550(a)(2) (the โBid Price Ruleโ). In accordance with Listing Rule 5810(c)(3)(A), the Company was provided 180 calendar days, or until February 20, 2023, to regain compliance with the Bid Price Rule.
On June 8, 2023 (the โJune 8th Decisionโ), the Panel notified the Company that it had determined to reverse its prior decision and grant the Companyโs request for continued listing subject to the Companyโs timely compliance with a number of conditions, including implementing the Reverse Stock Split, to the extent necessary to regain compliance with the Bid Price Rule by August 17, 2023. Accordingly, our Board adopted resolutions, subject to approval by our stockholders, to amend our Certificate of Incorporation to effect a Reverse Stock Split of our Common Stock at a ratio in the range of one-for-two to one-for-thirty, such ratio to be determined in the discretion of our Board. These resolutions were approved as a means of increasing the share price of our Common Stock above $1.00, which is required for continued listing on Nasdaq.
Source: https://www.sec.gov/Archives/edgar/data/1673481/000149315223022554/formdef14a.htm#a_004
AS: 500M
OS: 51M
1 for 2 reduces OS to 25M shares without affecting preferred.
Today's close, the price was $0.21, and to meet the $1.00 requirement LTRY would need to reverse split 1 for 5, which would pop the share price to $1.07, and the OS would adjust to 10.2M.
With AS=500M and a OS=10M I see the creation of a dilution machine!
Guess it's hurry up and wait for the vote at the shareholders meeting on August 7, 2023, at 10 a.m. Central Time online at https://www.cstproxy.com/lottery/2023.
yanquitrader
1 year ago
Lottery.com, Inc. (NASDAQ:LTRY)(NASDAQ:LTRYW) (the "Company" or "Lottery.com"), today announced the appointment of Mr. Mark Gustavson as its new Chief Executive Officer.
Lottery.Com, Inc. has appointed Mark Gustavson as Chief Executive Officer and principal executive officer, effective February 1, 2023. He will also serve as the principal financial/accounting officer of the company until a replacement is found. Gustavson replaced Sohail S. Quraeshi, who is no longer serving as Chief Executive Officer or as a principal executive officer of the company. On January 30, 2023, Edward K. Moffly resigned as Interim Chief Financial Officer of the company. Gustavson is not a party to any material plan, contract or arrangement (whether or not written) with the company, and there are no arrangements or understandings between Gustavson and any other person pursuant to which they were selected to serve as an officer of the company.
The Board of Directors of the company has not yet determined Gustavson's compensation or agreed to terms on a written compensation agreement. The company will file a Current Report on Form 8-K once such compensation has been determined by the Board of Directors. Gustavson will be eligible to participate in the company's equity compensation plans. The company plans to enter into an indemnification agreement with Gustavson in the same form as its other officers have entered.
Gustavson has 17 years of business development, transactional, alliance management, finance, operational, company formation, and IP experience with emerging businesses. Gustavson held senior management positions in a variety of technology companies. In his various executive capacities, he was responsible for transactions ranging from acquisitions and strategic collaborations to ordinary course transactions.
Mr. Gustavson is a co-founder and currently serves as Chief Executive Officer of ZENIOS Technologies Corporation. In March 2020, he and a group of investors acquired control of Sansar from Linden Labs Corporation, implementing an expansion plan and deploying virtual reality applications for live events and festivals. The assets of Sansar were transferred to Sansar, Inc. in June 2022, and Gustavson has served as a Board member of Sansar, Inc. since June 2022. He also previously served as Chief Executive Officer of Regnum Corp (OTC:RGMP), President, CFO and co-founder of Tri Capital Energy Corporation, Chief Financial Officer and Director of Wookey Search Technologies Corporation, and Chief Financial Officer and Director of Sharkreach Corporation.
In addition, Mr. Gustavson previously served as President and co-founder of MedicuRx Corporation, a position he held from February 2013 to June 2015. During this time, he was responsible for managing the company formation and transactional activities in collaboration with co-founder Dr. Joseph Rubinfeld a co-founder of Amgen Inc. (NASDAQ:AMGN) developing cancer therapeutics addressing Glioblastoma Multiforme.
Gustavson began his career as a Private Banker at HSBC in Saipan, Commonwealth of the Northern Mariana Islands. From April 1997 through February 1999, Gustavson was Vice President of Private Banking and was charged with co-launching the Commonwealth of the Northern Mariana Islands branch of the Pacific Regional Division during the bank's expansion period.
Mr. Gustavson also previously served as President and co-founder of MedicuRx Corporation, a position he held from February 2013 to June 2015. During this time, he was responsible for managing the company formation and transactional activities in collaboration with co-founder Dr. Joseph Rubinfeld, a co-founder of Amgen Inc. (NASDAQ:AMGN) developing cancer therapeutics addressing Glioblastoma Multiforme.