{"id":251,"date":"2024-06-26T20:29:47","date_gmt":"2024-06-26T17:29:47","guid":{"rendered":"https:\/\/cryptoleobonuscode.icu\/2024\/06\/26\/lottery-com-faces-nasdaq-deadline-for-board-expansion\/"},"modified":"2024-06-26T20:29:47","modified_gmt":"2024-06-26T17:29:47","slug":"lottery-com-faces-nasdaq-deadline-for-board-expansion","status":"publish","type":"post","link":"https:\/\/cryptoleobonuscode.icu\/2024\/06\/26\/lottery-com-faces-nasdaq-deadline-for-board-expansion\/","title":{"rendered":"Lottery.com Faces Nasdaq Deadline for Board Expansion"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/-eUnZbqMWUM\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Lottery.com, an online lottery ticket vendor, has been instructed to expand its board with more independent directors by October 5th. This directive aligns with the regulations of the Nasdaq Stock Market. These new members must also participate in the board&#8217;s audit and compensation committees.<\/p>\n<p>The Nasdaq mandates that companies maintain a minimum of three independent directors on their audit committee. Additionally, they require two more independent directors on their compensation committee.<\/p>\n<p>Failure to appoint suitable directors for the audit committee constitutes a violation of Nasdaq rules, specifically Nasdaq Listing Rule 5605(c)(2). The same applies to the compensation committee, governed by Nasdaq Listing Rule 5605(d)(2).<\/p>\n<p>Lottery.com must comply with these Nasdaq guidelines by Wednesday.<\/p>\n<p>The Nasdaq has indicated that if Lottery.com&#8217;s proposed plan for compliance is approved, they may grant an extension of up to 180 days from September 21st to rectify the situation.<\/p>\n<p>Lottery.com has confirmed their commitment to identifying new independent directors for the audit and compensation committees with utmost urgency. While the timeline remains uncertain, they are dedicated to adhering to the stipulated regulations. <\/p>\n<p>Lottery.com is facing serious difficulties. Two members of the board have resigned, stating that the company obstructed an inquiry into issues raised by new investors.<\/p>\n<p>The company has been experiencing challenges for some time. Last month, they received a warning that they might be delisted from the Nasdaq stock exchange due to their inability to submit their financial reports punctually.<\/p>\n<p>The Securities and Exchange Commission declared that they had not completed their financial audit for the first half of the year, preventing them from filing their quarterly report.<\/p>\n<p>In July, it was revealed that Lottery.com had significant outstanding wage payments, shortly after the CEO, Tony DiMatteo, stepped down.<\/p>\n<p>DiMatteo&#8217;s departure followed the resignation of the Chief Revenue Officer, Matthew Clemenson, a week prior. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lottery.com, an online lottery ticket vendor, has been instructed to expand its board with more independent directors by October 5th. This directive aligns with the regulations of the Nasdaq Stock Market. These new members must also participate in the board&#8217;s audit and compensation committees. The Nasdaq mandates that companies maintain a minimum of three independent [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Lottery.com Expands Board with Independent Directors<\/title>\n<meta name=\"description\" content=\"Lottery.com strengthens its board with independent directors to meet Nasdaq requirements, ensuring transparency and accountability.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoleobonuscode.icu\/2024\/06\/26\/lottery-com-faces-nasdaq-deadline-for-board-expansion\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Lottery.com Faces Nasdaq Deadline for Board Expansion\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Lottery.com strengthens its board with independent directors to meet Nasdaq requirements, ensuring transparency and accountability.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoleobonuscode.icu\/2024\/06\/26\/lottery-com-faces-nasdaq-deadline-for-board-expansion\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Join the Ultimate Online Casino Adventure | Licensed &amp; Secure\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-26T17:29:47+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptoleobonuscode.icu\/2024\/06\/26\/lottery-com-faces-nasdaq-deadline-for-board-expansion\/\",\"url\":\"https:\/\/cryptoleobonuscode.icu\/2024\/06\/26\/lottery-com-faces-nasdaq-deadline-for-board-expansion\/\",\"name\":\"Lottery.com Expands Board with Independent Directors\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoleobonuscode.icu\/#website\"},\"datePublished\":\"2024-06-26T17:29:47+00:00\",\"dateModified\":\"2024-06-26T17:29:47+00:00\",\"author\":{\"@id\":\"https:\/\/cryptoleobonuscode.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Lottery.com strengthens its board with independent directors to meet Nasdaq requirements, ensuring transparency and accountability.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptoleobonuscode.icu\/2024\/06\/26\/lottery-com-faces-nasdaq-deadline-for-board-expansion\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptoleobonuscode.icu\/2024\/06\/26\/lottery-com-faces-nasdaq-deadline-for-board-expansion\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptoleobonuscode.icu\/2024\/06\/26\/lottery-com-faces-nasdaq-deadline-for-board-expansion\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/cryptoleobonuscode.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Lottery.com Faces Nasdaq Deadline for Board Expansion\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptoleobonuscode.icu\/#website\",\"url\":\"https:\/\/cryptoleobonuscode.icu\/\",\"name\":\"Join the Ultimate Online Casino Adventure | Licensed &amp; Secure\",\"description\":\"Discover the latest trends and opportunities in online gambling with our fresh casino news, in-depth game reviews, and informative insights. 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