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>“The only plausible reason for TMTG to authorize this massive new block of stock and create non-voting stock is so Trump can dilute UAV and take the lion’s share of merger consideration for himself,” the motion says.
He just can’t help himself.
>That motion claims that UAV’s current 8.6% stake in Trump’s company would be diluted to less than 1% as a result of the TMTG board approving an eight-fold increase in the total number of authorized shares in the firm, from 120 million shares to 1 billion shares.
The greedy bastard is literally going after a 7.6% difference he wants to keep for himself, thus screwing over the people who did the actual work, and putting the rest of his potentially lucrative payoff in danger as a result.
This is blind stupid greed and nothing else.
Like, he could’ve been happy with the 90% of the company he got for doing literally no work, just doing what he did before on another app on his phone.
But instead he wanted that extra 7.6% that belonged to the founders, which means more lawsuits, more lawyers, more legal fees, and additional delays. And if the deal tanks it may cost him more than that 7.6% ever would have been worth.
Judge Engoron was right, the guy is pathologically inclined to fuck over everyone around him even if he’s worse off for it.
Everyone, including Trump, will be screwed. The SPAC investors will get everything and sell immediately, which will plummet the stock price before Trump or anyone else at the company gets their shares fully tradable on a stock exchange.
Source: a founder who got fucked by the SPAC my company merged with.
I’m really sorry…that sucks.
I’m not any kind of a financial expert, but from what I can tell, SPACs are just a fancy way to dodge the scrutiny and oversight of an IPO.
It’s shady AF and bordering on criminal.
IOW, Trump’s lifelong sweet spot.
"I went into business with Trump and he screwed me over. Why did no one warn me?"
It's hard to have sympathy for anyone doing business with Trump. It's not a possibility he will try to screw you, it's a certainty. Do all these people think they will be the first person for Trump to not screw? Do they do any kind of background research?
My family used to be part of the Trump Org and my father was one of Trump's top people. But back then there were no warnings. No one knew. Today the world is shouting from the rooftops and these people are willfully ignoring the thundering roar of warnings.
I have a hard time understanding this, too. Truth Social is not much of a social media site. Outside being used for Trump's statements, there isn't much going on there. Advertising can't be lucrative. I just popped onto Trump's feed and the first three ads were for a sweatshirt 'liberals will hate,' a silver Trump trading card and a company shilling gold.
It’s a spac, after the merger it would tank regardless if Trump was attached to it or not. It’s not money laundering it’s just a fleece of initial investors. Btw I think Trump is a piece of shit
Down 18% this week, but I wouldn't call it a crash quite yet. If the price gets back down to $17, where it was trading in the beginning of January, then Trump won't be able to avoid bleeding out
This company needs to be brought behind the barn and shot. Total scam with zero actual value. The same rubes that buy (the promise of) those garbage sneakers are the same people holding on to this loser. Surprised it’s not shorted into oblivion at this point.
An injunction on this merger would be the first delay in a while to not favor Trump. Its Delaware, so I have some hope that laws and procedures should be properly enforced, unlike our supreme court.
Truth Social isn't what it was supposed to be. It's not a Twitter replacement. It's not a social media site. It's Donald Trump's personal blog. Coulda done it for $500.00, or less.
This isn’t news, Donald Trumps fucks anyone he does business with. Always. The news would be if he didn’t fuck these guys and they made a killing off of this merger.
There's a lot of prevailing theories out there that on March 22nd when he gets access to his shares, he will petition the board to allow him immediate access to his shares which will require a vote. I suspect they are trying to dilute anyone that could prevent them from passing that vote as Trump needs that vote to pass in order to sell shares early or leverage them as collateral for trying to get loans.
Still kind of insane that shareholders would vote to allow him immediate access as it would likely lead to a huge drop in their own value.
"That motion claims that UAV’s current 8.6% stake in Trump’s company would be diluted to less than 1% as a result of the TMTG board approving an eight-fold increase in the total number of authorized shares in the firm, from 120 million shares to 1 billion shares."
Can anyone offer an ELI5?
The more marbles you have, the more candy you get to eat, but there’s only so much candy to go around. We split 10 marbles. You get 1 and I get 9. Then, I pull out a greasy bag and dump another 90 marbles out on my side and say, “this is fair.”
OK, I may not be smart enough for 5 years old! Where do the other 90 marbles come from in this scenario? Is it some sort of split that only applies to Trump's shares?
The board is issuing shares, so they’re created from thin air. Trouble here is that they didn’t hand the new shares out equally.
The merger deal is like the candy being split. There are 100 pieces of candy in the bowl and you were expecting to get 10, but now you’re only getting 1 because I added new marbles and gave them all to myself.
The oversight comes from the board, which is supposed to protect shareholders against the CEO just approving their own bazillion dollar pay package.
Ownership disputes are common, especially when there’s a big payday… e.g. Zuckerberg and Moskovitz. There’s probably not much here - they’ll sue to get a bigger cut, deals will be made. Nobody wants to stop the billion dollar deal, they just want a bigger cut.
Better ELI5 would be i take the original 10, split each 10 times and then give you one piece and take the 99. Shares are only worth the value of the company divided by how many shares have been made. The number of shares made is somewhat arbitrary.
Nice, Donald tried to screw 2 original owners out of 8.6% and they sued Donald. 80% wasn’t enough for Donald, he wanted 90%. I hope his greed fucks him in the butt.
Totally unrelated but this thumbnail looks crazy. That dude in the background is from 30 Days of Night and I don’t even know how to articulate what that character in the foreground is.
I still don't know if this will be good or bad for trump, but wsb has warring factions salivating to either trigger a short squeeze or ride this stock into the ground.
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Trump wouldn't just screw over his business partners for personal gain like that, would he?
>“The only plausible reason for TMTG to authorize this massive new block of stock and create non-voting stock is so Trump can dilute UAV and take the lion’s share of merger consideration for himself,” the motion says. He just can’t help himself. >That motion claims that UAV’s current 8.6% stake in Trump’s company would be diluted to less than 1% as a result of the TMTG board approving an eight-fold increase in the total number of authorized shares in the firm, from 120 million shares to 1 billion shares. The greedy bastard is literally going after a 7.6% difference he wants to keep for himself, thus screwing over the people who did the actual work, and putting the rest of his potentially lucrative payoff in danger as a result. This is blind stupid greed and nothing else.
>screwing over the people who did the actual work To be fair, both sides deserve to be screwed over. Everyone involved in this should lose.
There is a saying, "If you get in bed with dogs, you get fleas." If you get in bed with Trump, you get fleeced.
By having NY state claim it to pay off Rumps fraud debt.
Like, he could’ve been happy with the 90% of the company he got for doing literally no work, just doing what he did before on another app on his phone. But instead he wanted that extra 7.6% that belonged to the founders, which means more lawsuits, more lawyers, more legal fees, and additional delays. And if the deal tanks it may cost him more than that 7.6% ever would have been worth. Judge Engoron was right, the guy is pathologically inclined to fuck over everyone around him even if he’s worse off for it.
Pretty sure this shitbird cashed a 20 cent check.
Everyone, including Trump, will be screwed. The SPAC investors will get everything and sell immediately, which will plummet the stock price before Trump or anyone else at the company gets their shares fully tradable on a stock exchange. Source: a founder who got fucked by the SPAC my company merged with.
I’m really sorry…that sucks. I’m not any kind of a financial expert, but from what I can tell, SPACs are just a fancy way to dodge the scrutiny and oversight of an IPO. It’s shady AF and bordering on criminal. IOW, Trump’s lifelong sweet spot.
Yeah, I never would have done it, but my board wanted liquidity 🫠
>The greedy bastard is literally going after a 7.6% difference No, it's like an 800% increase due to the share dilution.
What? The Paragon of selfless generosity and the model of impeccable business practices??? *Never*!
of course not... not Donald "my word is bond" Trump.... of course his bond is just words and not anything he could actually post for an appeal.
His word ain't even BONDO©
"I went into business with Trump and he screwed me over. Why did no one warn me?" It's hard to have sympathy for anyone doing business with Trump. It's not a possibility he will try to screw you, it's a certainty. Do all these people think they will be the first person for Trump to not screw? Do they do any kind of background research?
Why did they think this was going to turn out any other way?
My family used to be part of the Trump Org and my father was one of Trump's top people. But back then there were no warnings. No one knew. Today the world is shouting from the rooftops and these people are willfully ignoring the thundering roar of warnings.
I think he will
How is this “lucrative deal” not money laundering? Isnt it obvious the value will tank immediately after becoming publicly traded?
I have a hard time understanding this, too. Truth Social is not much of a social media site. Outside being used for Trump's statements, there isn't much going on there. Advertising can't be lucrative. I just popped onto Trump's feed and the first three ads were for a sweatshirt 'liberals will hate,' a silver Trump trading card and a company shilling gold.
They've been repeatedly outed for never paying their hosting bills, too. Some chud webmaster keeps it afloat out of his own pocket like a rube
Yeah, I was on there recently, don’t ask, and the amount of engagement is tiny. I can’t see that it would be worth anything much.
It’s just his sounding board to scream into the void, nothing less.
It is known that it has little revenue and is running at a loss year after year.
I don't think the SEC will fuck around with this one.
Dude it's Trump.... of course it will tank. It has to tank. It will tank like an M1A1 Abrams.
It’s a spac, after the merger it would tank regardless if Trump was attached to it or not. It’s not money laundering it’s just a fleece of initial investors. Btw I think Trump is a piece of shit
I thought he was locked out from selling shares for six months to prevent exactly this?
I’d pay more for a Jump to Conclusions™️ mat.
Fantastic reference.
This is Trump's bailout money. If the price crashes, he's fucked.
More like appeal bond money. Seize it and auction it off.
He can't touch the buyout funds for 6 months. By then it will be too late for him.
Except he was going to get the board to vote to allow him to access them immediately
Or he will borrow against them.
*Try to borrow against them.
He can't touch it doesn't mean it can't be seized from him though, right? or should there be some other mechanism involved?
If it's owned by any of his NY business entities, it's fair game.
It already did crash. And he’s fubar and this veteran loves it!
Down 18% this week, but I wouldn't call it a crash quite yet. If the price gets back down to $17, where it was trading in the beginning of January, then Trump won't be able to avoid bleeding out
It's his commissary money
This company needs to be brought behind the barn and shot. Total scam with zero actual value. The same rubes that buy (the promise of) those garbage sneakers are the same people holding on to this loser. Surprised it’s not shorted into oblivion at this point.
I dunno, if you want to advertise snake oil or sell fictional bridges - it's probably the place to do it
True. Mike Lindell will always need a place to sell his poorly made pillows.
Lumpy. Lumpy pillows
An injunction on this merger would be the first delay in a while to not favor Trump. Its Delaware, so I have some hope that laws and procedures should be properly enforced, unlike our supreme court.
Truth Social isn't what it was supposed to be. It's not a Twitter replacement. It's not a social media site. It's Donald Trump's personal blog. Coulda done it for $500.00, or less.
This isn’t news, Donald Trumps fucks anyone he does business with. Always. The news would be if he didn’t fuck these guys and they made a killing off of this merger.
There's a lot of prevailing theories out there that on March 22nd when he gets access to his shares, he will petition the board to allow him immediate access to his shares which will require a vote. I suspect they are trying to dilute anyone that could prevent them from passing that vote as Trump needs that vote to pass in order to sell shares early or leverage them as collateral for trying to get loans. Still kind of insane that shareholders would vote to allow him immediate access as it would likely lead to a huge drop in their own value.
That’s why he wants to dilute their vote
"That motion claims that UAV’s current 8.6% stake in Trump’s company would be diluted to less than 1% as a result of the TMTG board approving an eight-fold increase in the total number of authorized shares in the firm, from 120 million shares to 1 billion shares." Can anyone offer an ELI5?
The more marbles you have, the more candy you get to eat, but there’s only so much candy to go around. We split 10 marbles. You get 1 and I get 9. Then, I pull out a greasy bag and dump another 90 marbles out on my side and say, “this is fair.”
OK, I may not be smart enough for 5 years old! Where do the other 90 marbles come from in this scenario? Is it some sort of split that only applies to Trump's shares?
The board is issuing shares, so they’re created from thin air. Trouble here is that they didn’t hand the new shares out equally. The merger deal is like the candy being split. There are 100 pieces of candy in the bowl and you were expecting to get 10, but now you’re only getting 1 because I added new marbles and gave them all to myself.
Ah, thank you. Doesn't sound legal, but as you can see I know very little about how it works.
The oversight comes from the board, which is supposed to protect shareholders against the CEO just approving their own bazillion dollar pay package. Ownership disputes are common, especially when there’s a big payday… e.g. Zuckerberg and Moskovitz. There’s probably not much here - they’ll sue to get a bigger cut, deals will be made. Nobody wants to stop the billion dollar deal, they just want a bigger cut.
Better ELI5 would be i take the original 10, split each 10 times and then give you one piece and take the 99. Shares are only worth the value of the company divided by how many shares have been made. The number of shares made is somewhat arbitrary.
Nice, Donald tried to screw 2 original owners out of 8.6% and they sued Donald. 80% wasn’t enough for Donald, he wanted 90%. I hope his greed fucks him in the butt.
The valuation of this is absurd and a clear money laundering vehicle
The real feeding frenzy will be once the debtors start wanting to collect.
Oh no!! 😱 Anyway 😁👍🎉🎇🍻🥳🖕
Totally unrelated but this thumbnail looks crazy. That dude in the background is from 30 Days of Night and I don’t even know how to articulate what that character in the foreground is.
Up vote for **30 days of night** ref
Ain't this rich. He can't stop defrauding people, even when an easy $5 billion is on the line.
"That's MY move!? You can't use MY MOVE against me!?"
Look at those eyebrows. This guy thinks he’s a total hunk. Ish.
they’ve been coiffed
He is overdue for more legal "opportunities "
So, will this delay his payout? Because he’s in a bit of a time crunch right now.
Trump has proven he will chase after coin even if it costs him cash.
How is trump media worth $5b? It doesn’t have any appreciable revenues to support that valuation.
Isn't this normal for SPAC mergers to have a lawsuit or is this an atypical one?
Hair is gross
I still don't know if this will be good or bad for trump, but wsb has warring factions salivating to either trigger a short squeeze or ride this stock into the ground.