Trump Media and Tech Group (Politics Allowed~Non-Moderated) (DJT)

[Diogenes of Sinope]

DWAC FILING WARNINGS!

Truth Social may not survive, accountants warn!

A new regulatory filing reveals that Truth Social's owner, Trump Media & Technology Group, has booked only $2.3 million in sales through June this year, while losing 10 times that amount.

The disclosure also contains a warning from Trump Media & Technology Group's accountants, who said they have "substantial doubt about the company's ability to continue as a going concern."
The cautionary language by Trump Media's accountants is known as a "going concern" warning, which indicates that an accounting firm believes a company may not have sufficient cash on hand to pay its debts and could default within the next year, according to S&P Global.


Trump Media is negotiating its debts with lenders, and the filing includes a warning that its own management has concerns about its ability to pay for the company's liabilities and to meet its obligations to lenders.

"During the 12 months following the signing of these financial statements, management has substantial doubt that the company will have sufficient funds to meet its liabilities as they fall due, including liabilities related to promissory notes previously issued by the company," the filing states.

Burning through cash

With its losses mounting, Trump Media is also burning through cash, ending June with $2.4 million in cash, down from $19 million a year earlier, according to filing

TRumplethinskin??