Claim of Texas Lottery Commission Retail License Is False
On January 15, 2025, the CEO and Chairman of Lottery.com, Mathew McGahan, filed an S1 with the SEC seeking to raise millions of dollars from investors, and which he relied upon to issue millions of shares in the company to himself and others. On the bottom of page 21 of that S1, which is now publicly available for investors and the public to review he falsely claims:
"We currently hold a license issued by the Texas Lottery Commission to conduct the retail sale of lottery tickets in the State of Texas"
The facts are that Lottery.com’s Texas Lottery retailer license expired on Nov. 30, 2023. The license was moved to terminated status on Dec. 7, 2023.
The link to the S1 on file is here. As noted, at the bottom of page 21 you will see the false claim.
https://www.nasdaq.com/market-activity/stocks/ltry/sec-filings
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