Lottery.com CRO resigns; preliminary review finds $30M cash/revenue overstatement

Sports Entertainment Gaming Global Corp

Chief Revenue Officer Matthew Clemenson resigned with immediate effect on July 11, 2022.
Preliminary conclusion: unrestricted cash overstated by ~$30M; revenue improperly recognized in same amount in prior fiscal year.
Company validating conclusion, assessing impact on prior financial reports, and implementing remedial measures.
Investigation ongoing; Interim CFO was named on July 6, 2022.

item 5.02

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Departed

Matthew Clemenson

Chief Revenue Officer

SEGG · Sports Entertainment Gaming Global Corp

Effective: 2022-07-11
Filed: July 15, 2022, 7:59 PM ET

On July 11, 2022, Matthew Clemenson, the Chief Revenue Officer (the “CRO”) of Lottery.com Inc. (the “Company”), provided a notice of resignation, with immediate effect.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Matthew Clemenson resigned as Chief Revenue Officer at Sports Entertainment Gaming Global Corp.

Action: resigned
Role: Chief Revenue Officer

Exact text from the filing

On July 11, 2022, Matthew Clemenson, the Chief Revenue Officer (the “CRO”) of Lottery.com Inc. (the “Company”), provided a notice of resignation, with immediate effect.

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Sports Entertainment Gaming Global Corp filing history →

Source: SEC EDGAR

accession 0001213900-22-039666

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