Lottery.com has appointed Edward K. Moffly as the group’s new Interim Chief Financial Officer (CFO), according to Market Screener.
This decision follows the resignation of the firm’s previous Interim CFO, Harry Dhaliwal, who provided his notice on October 9 after just over three months in the post.
Dhaliwal’s exit is just the latest in a long line of departures in recent months from Lottery.com, which has been beset by financial issues and negative speculation.
Its woes have chiefly arisen from the $30m overstating of its available unrestricted cash balance, as well as the decline of its shares which had dropped by 17% recently.
Lottery.com CEO Tony DiMatteo resigned as CEO in July and shortly after it was reported that the company was $425,000 behind on the payroll and was beginning to furlough employees.
More recently, the quintet of Lisa Borders, Steven Cohen, William Thompson and DiMatteo – who had stayed on as a Consultant – resigned.
But there is now a fresh face in the firm – albeit as a consequence of another resignation – after Moffly arrived to replace Dhaliwal.
Moffly previously served as Founder and Managing Director of Moveo Technologies Corporation, a transportation network company.
He has also served as Founder and Chief Operating Officer of Denarii Systems, which built a mobile-focused issuing and acquiring processor for credit card companies.
Moffly officially joined Lottery.com on October 14 after entering into a compensation arrangement, where it was agreed he would be paid $1,000 per day worked for the company.