Brief: Lottery.Com - In Connection With Appointment Of Interim CFO, Co Initiated Review Of Cash Balances And Related Disclosures

Sports Entertainment Gaming Global

15/07/2022 21:43

July 15 (Reuters) - Lottery.com Inc  LTRY.O :
    * LOTTERY.COM - IN CONNECTION WITH APPOINTMENT OF INTERIM
CFO, CO
INITIATED REVIEW OF CASH BALANCES AND RELATED DISCLOSURES
    * LOTTERY.COM - REVIEW LED CO TO PRELIMINARILY CONCLUDE IT
HAS
OVERSTATED AVAILABLE UNRESTRICTED CASH BALANCE BY ABOUT $30
MILLION
    * LOTTERY.COM - REVIEW LED CO TO PRELIMINARILY CONCLUDE THAT
IN
PRIOR FISCAL YEAR, IT IMPROPERLY RECOGNIZED REVENUE IN AMOUNT OF
ABOUT $30 MILLION
    * LOTTERY.COM - CO, IN CONSULTATION WITH OUTSIDE ADVISORS,
IS
VALIDATING PRELIMINARY CONCLUSION, ASSESSING IMPACT ON
PREVIOUSLY ISSUED FINANCIAL REPORTS

Source text: (https://bit.ly/3IOTcAj)
Further company coverage:  LTRY.O 

 ((Reuters.Briefs@thomsonreuters.com;))