22 November, 2024

Shareholders Impel Swift Examination of Lottery.com Chairman Matthew McGahan’s Leadership

In light of disconcerting revelations around severe mismanagement, shareholders of Lottery.com Inc. (NASDAQ: LTRY) have instigated an autonomous investigation into the company’s proceedings. The scrutiny intensified after Matthew McGahan transitioned from his initial role as an independent director to occupy the positions of Chairman, CEO, President, and Company Secretary, a move that stands in clear violation of NASDAQ’s regulatory norms and raises substantial concerns regarding the entity’s dedication to ethical governance and transparency.

It has been unsettlingly disclosed that, under the aegis of McGahan, an extensive allocation of 3,253,147 shares was made to Lottery.com’s executive team and external advisors. This act egregiously violates NASDAQ’s regulations as well as the internal by-laws of Lottery.com Inc., resulting in a significant [dilution of shareholder value] and provoking an outcry among shareholders for urgent remedial actions.

The transgressions are enumerated as follows:

  1. Breach of NASDAQ Rule 5635(d): The LTRY board’s authorization of the issuance of more than 3,253,147 shares to its executive cadre and external consultants, representing an astounding 44.2% of LTRY’s total extant shares, directly infringes Rule 5635(d). This stipulation demands shareholder endorsement for any issuance amounting to more than 20% of the outstanding shares or voting entitlements.
  2. Infringement of the Lottery.com 2021 Incentive Plan: The allocation of shares was executed in blatant defiance of the conditions prescribed in the Lottery.com 2021 Incentive Plan. The tally of allocated shares considerably surpasses the plan’s set boundaries, thus deeming the distribution unauthorized and nullified.
  3. Unwarranted Shares to External Advisors: An inexplicable assignment of 300,000 shares to LTRY’s external advisors was made without a credible rationale for such a substantial endowment. The opacity surrounding the arrangements with these external consultants and their pending financial obligations casts significant aspersions on the legitimacy and intent behind these share allocations.

A spokesperson for the shareholders articulated: “Considering these grave violations, we, the shareholders, demand immediate action to deny the registration of LTRY shares to the members of the Board of Directors and external advisors named in the S-3 Form dated February 12, 2024. These individuals include Matthew McGahan, Robert Stubblefield, Gregory Potts, Barney Battles, Christopher Gooding, Paul S. Jordan, Tamer Hassan, Amar Ali Law PLLC, Randall Lanham, Esq., Andrew R. Korn, Esq., and Andrey Nikitin who was previously convicted of fraud and served time in jail as Andrey Ryjenko and is now hiding behind his wife’s surname.”

Lottery.com shareholders are steadfast in their determination to seek all legal remedies if the shares are inappropriately allocated to the designated individuals. They advocate for absolute accountability, transparency, and the upholding of corporate governance norms by Lottery.com Inc.

Moreover, a thorough examination into McGahan’s historical involvements, notably his engagement in the supply of PPE to the UK Government during the Covid-19 pandemic and his association with the UK charity, Mask Our Heroes, is underway.

The findings from this probe, carried out by an independent financial intelligence outfit, are expected to be unveiled imminently.

About Lottery.com Inc.
Lottery.com Inc. is a leading provider of online lottery services, offering players a convenient and secure platform to participate in various national and international lotteries. With a commitment to transparency and integrity, Lottery.com Inc. strives to provide an exceptional lottery experience for its users. It is currently listed on NASDAQ.

News Team

Share

173 Comments

  1. Ronnie Cyganiewicz

    Nice post. I learn something new and challenging on sites I stumbleupon every day. It’s always exciting to read articles from other authors and practice something from their web sites.

  2. web design henderson

    Hello, There’s no doubt that your website could be having browser compatibility issues. Whenever I look at your site in Safari, it looks fine however when opening in I.E., it has some overlapping issues. I simply wanted to provide you with a quick heads up! Aside from that, great site.

  3. AI-powered product comparison

    You’re so cool! I do not believe I have read anything like that before. So good to find another person with a few genuine thoughts on this subject matter. Really.. thanks for starting this up. This website is one thing that’s needed on the internet, someone with a bit of originality.

  4. 부천오피

    I blog frequently and I genuinely thank you for your information. Your article has truly peaked my interest. I am going to take a note of your website and keep checking for new information about once a week. I opted in for your Feed as well.

  5. live webcam girls

    After looking into a few of the articles on your web page, I really appreciate your technique of writing a blog. I added it to my bookmark webpage list and will be checking back soon. Please check out my web site too and tell me what you think.

  6. toptan poşet

    I’m pretty pleased to uncover this site. I want to to thank you for ones time due to this wonderful read!! I definitely loved every bit of it and i also have you saved as a favorite to check out new information in your site.

  7. toptan poşet

    You made some good points there. I looked on the internet to learn more about the issue and found most individuals will go along with your views on this website.

  8. tubidy mp3

    Spot on with this write-up, I honestly believe this web site needs much more attention. I’ll probably be returning to see more, thanks for the information!

  9. 카지노추천

    I was pretty pleased to discover this page. I need to to thank you for your time due to this fantastic read!! I definitely enjoyed every little bit of it and i also have you bookmarked to check out new information on your web site.

  10. 토토사이트

    I must thank you for the efforts you have put in writing this site. I’m hoping to check out the same high-grade blog posts by you in the future as well. In truth, your creative writing abilities has encouraged me to get my own, personal site now 😉

  11. packman v4

    Hey there! I simply wish to give you a huge thumbs up for the excellent info you have right here on this post. I’ll be coming back to your website for more soon.

  12. 슬롯사이트

    When I originally left a comment I seem to have clicked on the -Notify me when new comments are added- checkbox and now every time a comment is added I get four emails with the exact same comment. There has to be a way you can remove me from that service? Thanks a lot.

  13. tubidy mp3 download

    The very next time I read a blog, Hopefully it won’t fail me as much as this particular one. After all, Yes, it was my choice to read through, but I really believed you would probably have something interesting to talk about. All I hear is a bunch of moaning about something you could possibly fix if you weren’t too busy seeking attention.

  14. Asa Hauskins

    You are so interesting! I don’t suppose I’ve truly read a single thing like that before. So nice to find another person with genuine thoughts on this subject matter. Seriously.. many thanks for starting this up. This website is something that is needed on the web, someone with some originality.

  15. Blue Dream

    This is a good tip particularly to those fresh to the blogosphere. Simple but very accurate information… Appreciate your sharing this one. A must read post!

  16. ragnarok private download

    After checking out a few of the blog articles on your web page, I really like your way of blogging. I saved it to my bookmark website list and will be checking back in the near future. Take a look at my web site too and tell me your opinion.

  17. Smart Watches

    An outstanding share! I have just forwarded this onto a co-worker who had been conducting a little homework on this. And he actually ordered me lunch due to the fact that I found it for him… lol. So allow me to reword this…. Thank YOU for the meal!! But yeah, thanx for spending some time to discuss this matter here on your internet site.

  18. sugar defender reviews

    Incorporating Sugar Protector right into my everyday regimen total well-being.
    As a person that prioritizes healthy and balanced consuming, I value the additional
    security this supplement offers. Considering that
    starting to take it, I’ve noticed a marked renovation in my power
    degrees and a substantial decrease in my desire for undesirable treats such a such an extensive impact on my life.

  19. sugar defender official website

    I’ve dealt with blood sugar variations for years,
    and it actually affected my power levels throughout the day.
    Since starting Sugar Defender, I feel a lot more balanced and sharp, and I don’t experience those afternoon drops any longer!
    I enjoy that it’s an all-natural option that functions without any
    rough side effects. It’s truly been a game-changer for me

  20. Sugar Defender

    Incorporating Sugar Defender into my day-to-day routine has been a game-changer for my general
    health. As someone who currently focuses on healthy and balanced consuming,
    this supplement has actually supplied an added boost of defense.
    in my energy degrees, and my need for harmful snacks so easy can have such a profound impact
    on my day-to-day live.

  21. sugar defender

    As someone that’s constantly bewared about my blood glucose, discovering Sugar Defender has actually been a relief.
    I feel a lot a lot more in control, and my recent check-ups
    have revealed positive renovations. Knowing
    I have a trustworthy supplement to sustain my routine gives me satisfaction. I’m so happy for Sugar
    Defender’s influence on my wellness!

  22. sugar defender official website

    I’ve struggled with blood sugar variations for many
    years, and it truly affected my power degrees throughout the day.
    Considering that beginning Sugar Defender,
    I really feel extra well balanced and alert, and I do not experience those mid-day sags any longer!

    I enjoy that it’s a natural remedy that functions with no extreme negative effects.
    It’s really been a game-changer for me

  23. sugar defender ingredients

    As a person that’s always been cautious about my blood sugar, discovering Sugar Defender has been an alleviation. I really feel so much extra in control, and
    my recent exams have shown favorable renovations. Understanding
    I have a reputable supplement to sustain my regular provides me
    assurance. I’m so thankful for Sugar Protector’s effect on my wellness!

  24. worksheets and listening exercises

    Hi there! This blog post could not be written any better! Looking at this article reminds me of my previous roommate! He constantly kept talking about this. I most certainly will forward this information to him. Fairly certain he’ll have a very good read. Thank you for sharing!

  25. tubidy

    After I initially left a comment I seem to have clicked on the -Notify me when new comments are added- checkbox and from now on whenever a comment is added I recieve 4 emails with the same comment. There has to be a means you can remove me from that service? Thank you.

  26. Xavier

    Good day! Do you know if they make any plugins to assist with SEO?
    I’m trying to get my website to rank for some targeted keywords but I’m not seeing very good success.

    If you know of any please share. Kudos! I saw similar article here: Bij nl

  27. PSAT Exam

    Excellent blog you have got here.. It’s hard to find high quality writing like yours these days. I truly appreciate people like you! Take care!!

  28. steel suppliers uk

    I truly love your blog.. Pleasant colors & theme. Did you create this site yourself? Please reply back as I’m looking to create my very own website and want to find out where you got this from or just what the theme is named. Cheers!

  29. Raw garden Cart

    You are so cool! I do not suppose I’ve truly read a single thing like that before. So wonderful to discover another person with original thoughts on this subject. Really.. thank you for starting this up. This web site is one thing that’s needed on the internet, someone with some originality.

  30. 두정오피

    After looking into a handful of the blog articles on your web site, I truly appreciate your technique of writing a blog. I bookmarked it to my bookmark site list and will be checking back soon. Take a look at my web site too and tell me what you think.

  31. vacationinmorocco

    Hi there, There’s no doubt that your site could be having internet browser compatibility problems. When I take a look at your website in Safari, it looks fine however, if opening in Internet Explorer, it’s got some overlapping issues. I just wanted to give you a quick heads up! Besides that, great website!

  32. Empire Of Billions Book

    Howdy! This article could not be written much better! Looking through this post reminds me of my previous roommate! He constantly kept talking about this. I am going to send this post to him. Pretty sure he will have a very good read. I appreciate you for sharing!

  33. Online Dispensary that ships to all states

    The very next time I read a blog, Hopefully it won’t disappoint me just as much as this particular one. After all, Yes, it was my choice to read through, but I truly believed you would probably have something interesting to talk about. All I hear is a bunch of complaining about something that you could possibly fix if you were not too busy searching for attention.

  34. rebirth.ro ​

    May I simply just say what a comfort to uncover an individual who genuinely knows what they are talking about online. You certainly know how to bring a problem to light and make it important. More people have to check this out and understand this side of your story. I was surprised you aren’t more popular given that you definitely possess the gift.

  35. pgslotauto

    Spot on with this write-up, I truly believe that this website needs much more attention. I’ll probably be back again to see more, thanks for the info!

  36. best vpn nordvpn

    Good post. I learn something totally new and challenging on sites I stumbleupon every day. It will always be exciting to read articles from other writers and use a little something from other web sites.

  37. sugar defender reviews

    sugar defender reviews As someone that’s always been cautious concerning my blood sugar,
    locating Sugar Protector has actually been a relief.
    I feel so much extra in control, and my current exams have actually shown positive renovations.
    Understanding I have a trustworthy supplement to sustain my regular provides me peace of mind.
    I’m so grateful for Sugar Protector’s influence on my wellness!

  38. Online Dispensary that ships to all states

    You are so cool! I don’t suppose I have read a single thing like that before. So good to discover someone with genuine thoughts on this subject matter. Really.. thank you for starting this up. This web site is one thing that’s needed on the web, someone with a little originality.

  39. gold trading signals

    After I originally commented I seem to have clicked the -Notify me when new comments are added- checkbox and now every time a comment is added I receive four emails with the same comment. Is there an easy method you are able to remove me from that service? Appreciate it.

  40. find out here now

    You’re so cool! I do not suppose I’ve read through anything like that before. So great to find somebody with some genuine thoughts on this topic. Seriously.. thank you for starting this up. This site is something that is required on the web, someone with a bit of originality.

  41. website maken wordpress

    Right here is the perfect site for anybody who really wants to find out about this topic. You realize so much its almost tough to argue with you (not that I really will need to…HaHa). You certainly put a new spin on a subject which has been written about for decades. Wonderful stuff, just excellent.

  42. jumping castle hire

    You’re so interesting! I do not believe I’ve truly read anything like this before. So good to discover somebody with some original thoughts on this subject. Really.. many thanks for starting this up. This website is something that is needed on the web, someone with a bit of originality.

Leave a Reply

Your email address will not be published. Required fields are marked *