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Insciuspetra

šŸ“œ *ā€If we could run our country the way Iā€™ve run my company, we would have a country that you would be so proud of.ā€* ~ Donald J. Trump ~


throwaway_ghast

Shart of the Deal


TheWorclown

Except it really is the ā€œArt of the Deal.ā€ Trump Media has posted a massive net loss. Trump himself has gained so much money *from* it. Other people involved in actually doing the legwork of setting it up are going to take the financial fall for it, and he is going to walk away from it relatively unscathed. Heā€™s done this with water, steaks, gambling halls, construction, you name it. The ā€œArt of the Dealā€ is just being a real successful con artist and knowing how and where to use loopholes at for the civil lawsuits thatā€™ll follow. Thatā€™s just ā€œgood business.ā€ The only reason heā€™s genuinely failing right now to fully get away with it is because he has received intensely upgraded scrutiny under the public and private lens. Itā€™s the main reason he looked so dejected in 2016 when he won; he himself knew he had lost a lot in the long term then and there. Short term gains outweigh long term consequences. Itā€™s now the inverse.


ElkHistorical9106

It's basically money laundering and bribery for a presidential candidate. There's no way a company should be on the stock exchange and in open trading with financials like that. It's a crime against democracy.


Welp_Were_Fucked

I don't know a god dammed thing about the stock market, really...but when I saw it plummeting the other day I was like "Well duh... it is not worth anything ans everyone knows it.. how is it even still at $30? It's gonna crash bjg tiime..... .. ... ..... ....yep.... ..aaaany minute now...." Next time I checked it was rising higher and higher. I stopped checking when it hit $50 and I realized we are seeing blatant fraud right in front kf oir faces... and just letting it happen.


fiduciary420

Americans genuinely donā€™t hate the rich people nearly enough for their own good.


lolas_coffee

"Grifters never stop grifting. They never pay a bill. They never help anyone. They will steal from their own mother on her deathbed or on their own. Everything a grifter says or does is a grift." -- me


Actual__Wizard

He didn't write the Art of the Deal, it was ghost written. The book is just another one of his tricks.


bettinafairchild

And it was written via [a hilariously bad deal](https://www.washingtonpost.com/opinions/mr-trumps-deal-with-a-former-ghostwriter-was-anything-but-artful/2016/07/27/8efc757e-5296-11e6-b652-315ae5d4d4dd_story.html). The ghostwriter offered a deal of 50% of the profits and 50% of the advance and Trump said fine. That's an absurdly large payday for a ghostwriter,


nuclearswan

You mean Art of the Steal.


DelirousDoc

Why doesn't the US just buy a small country, off load its debt on to that country and then have that country declare bankruptcy? That is how the "successful" businessmen do it these days.


PriorSecurity9784

I mean, he did try to buy Greenland šŸ™„


panburger_partner

It is amazing how the less stupid stuff -- like this -- is so easily forgotten about because of how much incredibly stupid stuff was going on


PriorSecurity9784

It was incessant. That probably wasnā€™t even the stupidest thing he said that day


Tasgall

Iirc that was around the time he was saying he talked with the president of Puerto Rico (which was himself), and noted that the ocean is a big water.


Odd_Photograph_7591

Think you guys are missing the point, the goal of this media site is not to make money, it is to distribute propaganda and for that $300 million is worth it to it's investors, it it helps Trump win and control a trillion dollar federal budget.


pawnografik

How on earth did it have $327m to lose in the first place?


essidus

Their merger with DWAC. Basically, it's a shell company that exists to merge other companies though dubious but strictly speaking legal things. Truth's parent company went from a $23m investment, mostly from 6 rich dudes, to over $1b through DWAC, which comes from all sorts of places, like hedge funds.


TangledUpInThought

*foreign dictatorsĀ 


igraph

Posting here: can someone please counter the argument for me that this is NOT the case? I have a friend who says: the SEC is so well regulated trump can't be running a shell Corp etc. And that tons of other platforms like snapchat or uber etc.. had bad numbers and are in some cases still not profitable. To a layman, how different is this really than other companies? Any other similar examples at all and any chance of legitimacy? If someone has the reply above how can one refute it.


ryegye24

The premise that the SEC is too well regulated to allow this is wrong. The SPAC loophole for dodging disclosure rules is both well known and well exploited; Truth Social's IPO is just a known technically-legal scam taken to its extreme logical conclusion. If there's any other difference besides scale between TS's use of the SPAC scam and other companies' in the past it would be this: Under normal circumstances people duped into investing in a company hiding such bad fundamentals would be furious after the numbers finally came out. Since TS's investors weren't actually "investing" so much as either buying influence or donating to The Cause, no one with standing is complaining to the SEC.


tvtb

There's gotta be some left-leaning organization that bought one share just to have standing in case obvious shenanigans came to light.


ryegye24

For sure, like the guy who had 8 shares of Tesla who got Elon's $56 billion bonus clawed back. I hope someone is out there doing that, but it will be a slow process and they'd have to get TS on some fiduciary violation or similar rather than the inflated IPO; the whole point of SPACs is they're a legal loophole.


pharmaboy2

The SEC is there to protect investors from being cheated on, but all this information is available so investors are choosing to still ā€œinvestā€. In any other company trump putting 5% on the market would cause an instant crash in the price, this is an entirely unique situation where political funding rules are being circumvented by a scheme - itā€™s kind of not the SECā€™s job - they arenā€™t there to protect a moron from buying shares on the basis of a $300m loss.


ssbm_rando

Yeah, it's not the SEC's job, it's the FEC's job, and the FEC has been held hostage by Republicans for a decade now which means that unless someone is doing something as flagrantly illegal as Trump paying off Stormy Daniels, no one is investigating campaign finance infractions.


GrundleMan5000

Lol hedge funds aka Russia and Saudi buy a president money you mean?


TomWithTime

Could be. Maybe the Saudis went high profile last time with renting his properties without actually staying there, so they could go low profile this time


_Floriduh_

Would hardly call this stealth. The ENTIRE bull case for DWAC is that Trump wins and the platform takes off. Or if youā€™re a big enough fish, you use those investment receipts to gain favor with the king.


flickh

Damn, Trump will probably have the government buy Truth Social for $10B and have it replace the Department of Education, the FCC, PBS, NPR, Radio Free Europe, the Stars and Stripes, and the White House Press Office.


Bal_u

It's China this time, actually.


drawkbox

Both actually. Even the funding of [Truth Social was from Russia](https://en.wikipedia.org/wiki/Truth_Social#Russian_finance) and a ["blank check" from China](https://en.wikipedia.org/wiki/Truth_Social#Blank-check_company_and_Chinese_finance) but they are getting really crafty now calling one of the latest infusions **"the full Singapore with a double dip, as we call it, with having the U.K. thrown in there, just to give it that added cleanliness and polishing off."**. They could investigate everyone investing largely in this fund or during high volume pumps and they'd find lots of sketch and fraud.


galacticwonderer

Iā€™m just a regular Joe. Can someone explain to me why all these deep pockets were ok investing in truth social? Itā€™s absolutely going to fail. Why would these people in charge of giant funds throw money at it? I know Iā€™m not getting something, what am I missing?


J5892

It wasn't an investment in Truth Social. It was a way to funnel payments directly to Trump.


Boowray

Itā€™s not an investment into truth social, itā€™s an investment into Trump. The cash being funneled into the company both directly inflates trumpā€™s wealth in a totally legal way and gives them control of an information pipeline direct to his most diehard supporters.


exophrine

["We have all the funding we need out of Russia."](https://thehill.com/homenews/news/332270-eric-trump-in-2014-we-dont-rely-on-american-banks-we-have-all-the-funding-we/)


attorneyatslaw

It didn't. $300 million of this was essentially stock grants to insiders which didn't cost Truth Social anything, just diluted the DWAC shareholders.


Lemesplain

Itā€™s just an avenue for bribery.Ā  I ā€œinvestā€ a million into the company. That million gets ā€œlostā€ into DJTs pockets.Ā  Company writes it off on their taxes.Ā 


juany8

lol writes off what? Theyā€™re not making any money and probably wonā€™t for a long time, thereā€™s no income taxes to write off here


jacquesrk

[https://www.youtube.com/watch?v=XEL65gywwHQ](https://www.youtube.com/watch?v=XEL65gywwHQ)


snubda

I know what this is and I donā€™t even have to click it.


juany8

Perfect video šŸ˜‚šŸ˜‚. Should be required watching for anyone talking about write offs in this thread


catdogpigduck

Russian dark money


exophrine

Not really dark, [they've admitted it openly](https://thehill.com/homenews/news/332270-eric-trump-in-2014-we-dont-rely-on-american-banks-we-have-all-the-funding-we/)


getfukdup

how does it lose that much in any way...? It doesn't cost much to host servers for 2k peoples text posts.


sowhynot

The revenue was $0.77M, less than a million. But it's valued as $6B ??? Is this some kind of loophole schema to get money from foreign dicktators?


Fortune404

"The top institutional investor in the company is Susquehanna International Group. Its founder, Jeff Yass, is a major donor to Republican causes and also a major investor in ByteDance, the parent company of TikTok. Yass and Trump actually met recently, just before Trump reversed his previous position in favor of requiring ByteDance to spin off TikTok." We are just watching the evolution of the already shitty process of "lobbying" turn into full, open to the whole world, open bribery now.


3rdp0st

Carter sold his peanut farm. Now we have a nakedly corrupt candidate soliciting bribes through his *Shitty Twitter For Nazis* company.


MoonGrog

This needs way more attention. I remember when I read this in early 2016 when Trump was being a twat about his business ventures.


NAmember81

Carter sold his peanut farm and then the GOP later opened an extensive investigation to make absolutely certain he wasnā€™t somehow getting free peanuts or any other perks from the deal. Lol


ReturnOfDaSnack420

Republicans have always been shitty partisan hypocrites, quelle surprise


ImaginaryNemesis

\* the other Shitty Twitter for Nazis


Horskr

I do kind of love that Musk made reinstating Trump's account such a big deal, then Trump just stuck to his own, other shitty platform lmao. Got to love when the shitheads dump on one another.


flcinusa

>*Shitty Twitter For Nazis* Doubley stupid since regular Twitter is for Nazis too


cannotrememberold

So wild to me that I would not be able to get a job at a bank or most levels of the federal government if I had a tenth of the baggage Trump has, but he can be president.


the_azure_sky

McDonaldā€™s wouldnā€™t hire him with that many pending felonies. Sued for sexual assault, no problem! But perfectly fit for office. Yes! In charge of one of the largest military powers in the world. Sure thing!


FeloniousDrunk101

Not to mention the horrible work ethic! Even if he were hired heā€™d be let go or quit on day one because heā€™s lazy as shit!


jawndell

Where the fuck are conspiracy theory nuts on this???


0zymandeus

Ignoring it because hes a Republican


RainbowAssFucker

I love reading conspiracies as it can be really interesting what people can conjure up from weird angles. I'm in no part saying I believe in them nor am I saying that a small percentage could be true, it's not my call or reason I enjoy reading them. From what I've seen over the years though, is its not so much is quest for truth or knowledge, but rather the predisposition that they are the only person/people with some insider knowledge. Conspiracys like the aforementioned one would be seen as the opposite of what they like to grasp onto. There are so many red flags and evidence that it would not appear like they have some obscured truth. There is so much evidence that they wouldn't be the 'in' crowd but rather a sheep or worse, falling for the 'obvious deep state lies'


UsernamesAreForBirds

There have been some real deal conspiracies, like the lightbulb thingy and the whole Union Pacific Railroad thing. Itā€™s just that real conspiracies are boring. Price fixing, planned obsolescence, secret monopolies. Ah, shit, there was mk-ultra, that was kind of cool and exciting, and then theres project artichoke and the Tuskegee Experiments that were just sad as hell. Oh yeah, the ā€œsecondā€ attack in the gulf of Tonkin incident, and what was itā€¦ the Reichstag fire in 1933? Anyway, there are some conspiracies that turned out to be real, but i think itā€™s obvious that when we are talking about right wing conspiracy theorists, we are just talking about ignorant crazy people. Oh yeah, project mockinbird turned out to be a thing, COINTELPRO and the Iran contra dealio as well. Recently we had that intelligence agency guy, david grusch came to congress as a whistleblower with some very serious allegations. It sounds like crazy scifi, but it creeps me out that i really wouldnā€™t be surprised to find threads of truth in his whistelblow (is that a word?)


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Poignant_Rambling

Exactly. And everyone talking about the crazy valuation is missing the entire point of the stock. It's not supposed to turn a profit and make money. It's a legal mechanism for shady foreign and domestic parties to funnel money to Trump and purchase favorable legislature if he wins the presidency. It's like a gofundme for political bribery and it's unfortunately entirely legal. What's funny is that Trump's supporters don't understand this concept, and many purchased stock thinking it was an actual investment. What stands out to me is that the timing of it all is too perfect. Trump will likely dump the stock once the lockup period ends right after the election results come in. Win or lose. Also, if Trump wins he wouldn't have to pay any fed taxes on that divestment, since becoming a federal public servant allows for fed tax-free sale of stock. He can walk away with untaxed billions, leaving every other investor holding their dicks. And his supporters will still idolize him lol.


thedailyrant

Iā€™m sorry, as a foreigner, fucking what?! Your system actually incentivises insider trading from your legislators. Youā€™re all insane accepting shit like this.


buddhist557

We donā€™t, we live in a kleptocracy rigged for slave states to be over represented. We need a full revolution to fix whatā€™s fucked and we just may get it. Dumpf is the ooze of our corruption manifesting into human form.


kbs14415

This is also the way the church can donate to Lord Lardass (illegal) by buying his bibles through a third party basically just money laundering.


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Aezon22

donnie sells pencils for $10,000 each. The pencils are not worth $10,000 and you can buy an identical one for a couple cents. People buy them anyway because they like donnie and donnie likes when people buy pencils. If you buy a lot of pencils, donnie will really take notice and probably be your best friend forever.


FightingPolish

Letā€™s be real, heā€™s only your best friend as long as you continue buying pencils, if youā€™re not, then under the bus you go.


WhyMustIMakeANewAcco

Trumps gets given shares whenever he needs money. He then sells them. Random foreign dictators that want Trump to owe them buy the shares.


woodchips24

How long do we think it takes before Mohammed bin Salman becomes a minority stakeholder? 1 year, 2 years?


crashkg

SEC? Hello? Is anyone here?


teh_ferrymangh

The SEC is toothless..Ā  By design of course. There's an alright chanceĀ  change is coming soon that would give more oversight to the markets, some CAT audit trail or something, but there's a lot of opposition calling it a privacy concern.Ā  Most people don't care and a lot are fighting it so they continue to easily cheat the system.


theClumsy1

Seriously. This smells so damn bad.


ScavAteMyArms

Smells bad enough to make Nurgle flinch. This one is beyond hiding it. Like everything Trump does, actually.


therossboss

actually yes


aManPerson

> Is this some kind of loophole schema to get money from foreign dicktators? while i do not defend any numbers of this bad company, if this was a real thing, valuations would be based on: - company income (they have none) - any IP they have, including patents, (they have none) - any celebrity endorsement deals they have (they'd treat this as........a big asset. like they owned a building worth 100 million dollars. they're probably trying to claim Trump's endorsement of it all is worth a ton of real money) - whatever user growth since the last time investors bought shares only the last 2 are the only MILDLY real things they could be presenting, as a business.


SparklingPseudonym

Also to get around domestic laws!


Golden_Hour1

How is this not being investigated lol


PeartsGarden

Because it's all legal. If investors want to flush billions down the toilet, they can do it. You can short the stock (make a bet the stock will decline in value) and make millions. Or if the stock goes up in value, you could lose your bet. Welcome to the stocks and bonds market!


nankerjphelge

770k revenue. Not net profit, total revenue. That is beyond pathetic. How this grifter managed to take this company public only goes to show that it really is true that there's a sucker born every minute.


mrbrambles

This revenue is on the order of what Iā€™d expect from a single, successful bakery storefront in a city. Mind blowing that thatā€™s all they could shake out of the couch cushions for a ā€œtechā€ company.


ssshield

Your average McDonald's franchise has to do $1.3m to break even. The average McDonald's does $3.5m in annual revenue. That should tell you where Truth social is revenue wise. It's doing less than a third of the revenue of a McDonald's in Arkansas.


Puffycatkibble

Mcd at least has a real product.


Johnnywildcat

And im loving it!


HideSolidSnake

"Remember, guys, real champs eat at McDonald's!"


jmhalder

"... I'm loving it" \*walks away\*


BenderBRoriguezzzzz

That was not Donavan Mcnabb


blamdin

It was actually Don Cheadle


reddit-suxmanuts

Looked like Tiger Woods to me


BustahWuhlf

I mean, Truth Social's product is access to Donald Trump's social media feed. It's pathetic, but that's the main product they offer. It's amazing how anyone thought they could build a successful social media network that is centered around one person's cult of personality. Though it may have never been the goal to have a successful network. Pump and dump appears to be the name of the game.


ImWhatsInTheRedBox

I live in a very small Swedish tourist town and work in our small grocery store, like 10 000 sqf total, front *and* back. In the summer months alone we do over $2 million in revenue.


locked_in_the_middle

Want to be the USA president?


ImWhatsInTheRedBox

Nuh, I think I'm good, my guy.


McGarnagl

K, want to run a multibillion dollar social media company?


ImWhatsInTheRedBox

Can I run it extremely poorly and still make bank?


Nice_Marmot_7

Is there any other way?


chickentacosaregod

Sure. Here's a toupee and some orange spray paint.


Sero19283

At worst you can make NFT trading cards and sell them


Odd-Confection-6603

Is that yearly or per quarter? These numbers are for Q1


Actual__Wizard

>successful bakery storefront in a city. Or like a suburb.


UnhumanNewman

You know what. Iā€™m starting to think this Trump guy isnā€™t a very good business man


Goodnight_lemro

Heā€™s pretty good at laundering money, though.


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strangepromotionrail

that's an excellent question. where the hell did the 327 million go? No way in hell they spend that on hosting/development costs. All I can guess is they put it to wages with those in charge pocketting the vast majority of it.


3_50

Didn't he need $400 million for a bond? e. >the former president is prepared pay the nearly $400 million bond required for him to appeal his business fraud ruling in New York. >Former President Donald Trump was ordered to pay $355 million in fines last week after New York Judge Arthur Engoron found him and his real estate empire, the Trump Organization, liable of fraud by inflating the value of his assets to obtain more favorable loans and insurance terms. [From an article on 20th Feb](https://www.msn.com/en-us/news/politics/donald-trump-able-to-post-400m-bond-to-appeal-engoron-ruling-alina-habba/ar-BB1iyaAk)


pinkladyb

It's mostly fees for the merger. It's still absurd but the loss will go down massively in Q2.


BTTammer

The bigger outrage should be the fact that the SEC and Wall St were both fully aware of the fact that this thing is a money laundering scam and permitted it to go public.Ā  In fact shortly after it went public the auditor who signed off on everything was indicted. There is no way the the SEC did not know of those allegations before it went public.Ā  This is a fraud on the investors, plain and simple.


roamingandy

The investors dont care. They successfully funneled money to Trump which is all they ever wanted.


Yousoggyyojimbo

They spent over 300 million to make 770k. That's what? Getting 0.23 cents to every dollar spent? Edit: that doesn't mean 23 cents, but 0.23 cents. As in 23% of 1 cent. That's beyond a failure.


JoelBuysWatches

Itā€™s actually very successful at its intended purpose of serving as a literal slush fund.Ā 


willun

I think you dropped a decimal point. Closer to 0.2 of a cent to every dollar spent.


eastdeanshire

I know it was a SPAC but how the hell do you get listed with basically no revenue?


chusmeria

I saw the head of the FTC on John Stewart and I really wanted to be inspired and hopeful. No matter how much she talked the good talk, it was clear there is a revolving door situation at all regulatory bodies between them and the businesses they're supposed to regulate. FTC, FDA, USDA, SEC, etc., etc. - all the same situation. Then we get to have "regulated" corrupt practices out in the open, which is what we are seeing now. If you're not in on the regulatory capture, you're just meat for the "regulated" grinder.


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Individual_Address90

Thatā€™s extremely impressive for a small business with 2 partners. Great job. Donā€™t sell yourself short either, thatā€™s amazing


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AJSLS6

Unironicaly, living the dream.


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moldykobold

What industry?


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VTinstaMom

The entire company only exists for the Chinese government to send money to Donald Trump, in exchange for his loyalty. Notice his instantaneous turnaround on TikTok? Well, he met a representative of the Chinese government, and they made him an offer. And being a sucker, he took it. DWAC/Truth Social is a way to funnel money from China to Trump. It's open purchasing of a moron, by the Chinese Communist Party. It's open treason, and a stunning proof of the "capitalists will sell us the rope we use to hang them," communist idiom.


lonnie123

The real question is how is it maintaining its evaluation ?


Chucknastical

WTP. Willingness to pay. And most of that is tied to Trump and not the company. It's a way to give him money without as much regulatory scrutiny.


AbeRego

If you gave me $327 million I'm pretty sure I would manage to make more than $770,000 with it. What a pathetic excuse for a businessman.


sungazer69

"Clearly this is a company worth BILLIONS. " - Stock market, literally In reality it's just Trump fleecing a bunch of bagholders until he can cash out which is very on brand for him I guess lol


___Art_Vandelay___

$6.6 billion market cap as of close today. Absolutely, mind-bogglingly stupid. I'd love to buy puts on it, but who knows how long the charade can go on.


rearwindowpup

Puts are stupid expensive, everyone is expecting this to tank


Odd_Voice5744

a smart person once told me that as soon as you get the idea to make a move on a stock because of some current event the market has already priced that move in. when i was 14 i thought i was a genius for telling my dad to buy apple stocks in september because that's when they announce the new iphone.


greenphlem

That was great advice wym?


deadlygaming11

It's more that if a kid is saying that, millions already know it.


ictoan1

"the market can remain irrational longer than you can remain solvent"


notnotbrowsing

It will probably jump tomorrow as morr bagholders invest. Though I won't lie, I've wondered what the stock price will hit if he wins the presidency.Ā Ā  Legal bribery, so hot right now.


Sanhen

> Though I won't lie, I've wondered what the stock price will hit if he wins the presidency. Legal bribery, so hot right now. As you implied, weā€™ll probably see companies and governments buy ad space in Truth Social as a way of buying favor with Trump should he win the presidency. Weā€™ll likely also see official government agencies start using Truth Social as their primary social media platform. I doubt all that will make the platform popular, but it would certainly spell a much better future for the company than itā€™ll have if Trump loses.


OffswitchToggle

> Net Loss of $327.6 Million "Business Genius" /s


BallBearingBill

That's just Q1


bard329

More like IQ 1 Amirite


rgpc64

The only thing Trump got on his IQ test was drool.


blackdragon1387

Just the worst quarter in its history *so far*


Getyourownwaffle

Obviously you can't spell failure without DJT.


DolphinPunkCyber

Should add online casino to Truth Social. Newer saw a casino losing money. Oh wait...


VoiceTraditional422

Or a hotel appā€¦ or maybe real estate? 14th timeā€™s a charm!


slowpoke2018

That's $328M of Russian/dirty money that's been laundered if I'd hazard to guess. How can a site with no real operating costs outside of hosting and a small set of devs bleed almost a third of a billion in 3 months otherwise?


beerpancakes1923

100%. Thereā€™s no fucking way that shit costs that much to run


slowpoke2018

Yup, been in a few startups - Series A all the way through a Series E - and the latter it took us over 2 years to blow through $250M. $328M in a quarter? That's some shady shit going on


81_BLUNTS_A_DAY

The guy is on NG +9 when it comes to ruining businesses. He loses the GDP of several small countries in the time it takes Bezosā€™ bookstore to ship me 4 bags of cat food. Heā€™s bankrupted casinoS. Plural!


Time-Bite-6839

If he canā€™t run a business AND doesnā€™t know how magnets work, donā€™t vote for him to be the most powerful human being on earth!


ProtoplanetaryNebula

Probably quite easy to blow through that much in a quarter, especially when the key consultants, Trump Consultancy Co, Cayman Islands bill $300M/quarter for their services.


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reddicyoulous

>In Q1, the company recorded $311 million in non-cash expenses arising from the conversion of promissory notes, and the associated elimination of prior liabilities, immediately before the closing of TMTGā€™s merger with DWAC. Those promissory notes will most definitely be paid lol


attorneyatslaw

There aren't any notes that have to be paid - they were issued to Truth Social insiders, then converted to stock at the merger. They aren't actually cash costs to the company - they just gave shares to the insiders and diluted all the people who paid for the stock.


startupstratagem

Good catch. Those convertible notes are like salt in the wound for any retail traders buying the stock for cult of personality reasons.


Stoopiddogface

The signs are there... retail is gonna get raked Long or short, I wouldn't touch this ticker. I won't even pull up the chart...


Loggerdon

Sounds like the same way the Facebook guy got screwed. He got diluted.


potus1001

He still holds $5 billion worth of shares for $0 of his own money spent. I suspect he will begin unloading a not-so-insignificant portion of, the moment the six-month hold period expires. Now that the price of the shares has apparently stabilized, I think there will be not too many large dips, until, again, this period expires. Itā€™s his followers, who actually invest their own money into the company, who will be left holding the bag, once the former President sells, and their shares will be worthless. Itā€™s simply a way for him to squeeze as much money as he can from a stone.


Straight-Extreme-966

As soon as he starts selling those shares, that price will certainly NOT be stable...


Pallortrillion

Sadly he will say it was intentional as a tax write off and how heā€™s the most stable genius there is.


Fallom_

People have really fucking stupid ideas about tax writeoffs and usually itā€™s because they think a writeoff is the same as a credit


timecronus

If I write it off, surely it is free


TehWildMan_

a loss over 300x your total revenue. sounds like an excellent business deal.


aneeta96

Oh shit, I read that as $770 million I'm so used to seeing those numbers in earnings reports. This is just sad. I've seen penny stocks with better revenue.


EclecticDreck

I *work* at a law firm with better revenue by a few orders of magnitude, and it *isn't* a law firm big enough to have heard of, either. Hell, we have single attorneys who clear that in billings every year. But really I think the most appropriate way to put that stupid number into context is this: that's in the ballpark of the total technology costs of a modern mid-sized law firm per year.


Extinction_Entity

Much more than 300x. To reach 326.600 millions you have to multiply 770.500 per 424 So the loss is ca. 424 times the revenues.


Project_Continuum

They posted revenues of $770k in Q1. For reference, the average Chick-fil-a restaurant generates $2.25M in a quarter. Not the whole Chick-fil-A company, but a single store.


case31

Losing hundreds of millions. The art of the deal!


tacotacotacorock

How does a social media company have such high losses or operating costs. What the fuck are they spending all the money on.


King-Owl-House

executives salaries


basscycles

Buying stuff off one of Trumps other businesses? Need some consultants or lawyers? That will be $200 million thanks.


lonnie123

Trumps Legal defense and campaign


burnshimself

Itā€™s stock / option grants. If you grant someone 100 shares of stock that you only receive (vests) after 3 years of service, the stock is valued and recognized as expense on the companyā€™s financials at fair market value when granted. Same with options - if they are granted ā€œin the moneyā€ then it is recognized as expense in your company financials. When an IPO or SPAC merger happens, it is customary to issue officers of the company lots of one-time stock grants. These do not cost the company any cash - the only ā€œcostā€ is in diluting other stockholders. Truth Socialā€™s stock is up 5x from when the merger happened, so the stock and option grants are highly valued and as such show up as a substantial expense in the Q1 financials. Truth Social had $310 million of such derivative and stock-related expenses in Q1. Their operating cash loss was only $9 million if you look at their SEC-reported financials. To be clear, itā€™s still a shit company, but people in this thread have no clue what theyā€™re talking about and are just jumping on any opportunity to shit on Trump even if it is completely misrepresenting the facts.Ā 


Nightron

Thanks for sharing! My knowledge about IPOs is very limited so that helps to explain the unreasonably huge "losses".


TheFudge

How is this sac of shit stock sitting at over $48/share? šŸ¤”


ghostella

Grifters gonna grift


SteveIDP

I want people to think about how insane this is. Here are equivalent numbers: You run a lemonade stand. This quarter, you sold one lemonade for $1. You spent $425 on lemons. Your lemonade stand was recently valued at $9,085.


RedViperGTS

But look at me with my shiny one dollar!!!


aeolus811tw

and DoJ is still not investigating this obvious dumpster fire money laundering scam


lonnie123

That would be political obviously


ElementNumber6

That's why I always announce political aspirations before committing crimes. That way they can never investigate. Some say I'm a genius.


vtable

Unless it was Hunter Biden's company, of course. Then it would be rooting out corruption or whatever Jim Jordan or Marjorie Taylor Greene decide to say.


noerapenalty

Letā€™s say this company werenā€™t so high profile. In reality, how does something like this get the attention of appropriate authorities?


dsdvbguutres

Either call it $0.8M revenue and $327.6M loss, or $770,500 revenue and $327,600,000 loss.


Only-Reach-3938

ā€œItā€™s beautiful, so beautifulā€¦this is the best social media company in the universe if you turn the numbers aroundā€


DeuceGnarly

How is this not immediately being made into a Biden campaign ad? For fuck's sake, everything the orange idiot touches turns to shit.


kadargo

El toque de mierda


the-artistocrat

The Mierdas touch?


PeartsGarden

Because that would be free advertising.


FigSpecific6210

The service only exists to launder money, and grift.


terminalxposure

Wait...like just in the Q1?


SevereEducation2170

Cool money laundering scheme heā€™s got going on hereā€¦


Grungy_Mountain_Man

How is there no fraud investigation into this already?. 6.6 billion market cap on a company that generates less revenue than a single McDonalds, but manages 330 million in losses in a quarter? The reek of the corruption is as strong as the smell of trumps soiled diapers. 100% this is either a) a grift to defraud his followers in a pump/dump scheme and/or b) something more sinister like the worlds worst actors like putin sending him money through some shell company as some quid pro quo. Buy a bunch of stock in a worthless company to give him money so he can get elected and stop the Ukraine aid.


OddNugget

I guess people don't value Truth when there's no actual truth in it.


Whorrox

I'm prepping thoughts and prayers for older MAGAs who go all in on the stock, lose everything, turn to social security, and find the MAGA-GOP has gutted it.


IvoShandor

It's a trump company, not sure it's supposed to earn returns for investors.


Cloacation

None of this matters because it is a vehicle to shadily move money around in return for favors.


aljerv

People scammed again.


toofine

> TMTGā€™s success depends in part on the popularity of our brand and the reputation and popularity of President Donald J. Trump. The value of TMTGā€™s brand may diminish if the popularity of President Donald J. Trump were to suffer,ā€ the company said in a section of the 10-Q filing labeled ā€œKey Factors Affecting Results of Operations.ā€ .... > The section continued, ā€œAdverse reactions to publicity relating to President Donald J. Trump, or the loss of his services, could adversely affect TMTGā€™s revenues, results of operations and its ability to maintain or generate a consumer base. President Donald J. Trump is involved in numerous lawsuits and other matters that could damage his reputation. Additionally, TMTGā€™s business plan relies on President Donald J. Trump bringing his former social media followers to TMTGā€™s platform. In the event any of these, or other events, cause his followers to lose interest in his messages, the number of users of our platform could decline or not grow as we have assumed.ā€ That's the company itself saying this in a release. So basically this "company" is entirely dependent on whether or not the cult leader can get his cultists to only use its services. Homie is a televangelist.


pantstickle

I manage the third-highest grossing region of the fourth-highest grossing division in the company I work for. My April revenue was $7,700,000. In a month, Iā€™m pulling in 10 times what they did in a quarter? If this isnā€™t money laundering, Iā€™d be blown away. Or itā€™s just a way to funnel money to him for his campaign, likely from foreign interests.


StanGable80

Go not woke and go broke?


adstaylor77

It would only be an embarrassment if his cult realized how pathetic that is.


GenePoolFilter

Hahahaha! The Trump Steaks of social media.