Trump Media plunges more than 25% after company reports net loss of $58 million in 2023
Trump Media plunges more than 25% after company reports net loss of $58 million in 2023
Trump Media, whose majority shareholder is former President Donald Trump, "expects to incur operating losses for the foreseeable future," the filing says.
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My smile grew larger with each paragraph.
But I reached near-euphoria with these masterpieces of financial journalism:
The filing also warns shareholders that Trump's involvement in the company could put it at greater risk than other social media companies.
and…
TMTG also disclosed to regulators that the company had identified "material weaknesses in its internal control over financial reporting" when it prepared a previous financial statement for the first three quarters of 2023.
😁
If anyone checked the filing presentation they literally put questions marks for their profitability. It was HILLARIOUS.
Before anyone asks, here it is:
https://www.sec.gov/Archives/edgar/data/1849635/000119312521348593/d242442dex992.htm
Lmfao. Here's a pic for the super lazy.
I strive to be super lazy. I was disappointed after having already clicked the link and wasted an untold number of seconds finding that slide only to scroll down and see it here.
Ha lmao same 🤣
You're doing God's work firewitch/witchfire
Same. It was at least 15!
at least 15!
Jesud christ! That's almost 41.5k years!
Holy goddamn shit, that's not even the funniest part of that! They estimate $3.6 billion in revenue by 2026? What fucking super-adderall-DMT-coke-meth-unicorn-fart drug are they smoking?
If they install a dictator and ban all other social media and also ban not participating in social media, then yeah, that’s actually a pretty conservative estimate.
They even mentioned that they estimated 15M monetized users and 10M recurring media subscriptions. So they're estimating $1.2B per year for the next 3 years of those 25M users. That's $48/mo between those 2 types of subscriptions. In the presentation they directly compared themselves to Twitter who charges $11/mo and Netflix, Apple, Disney+, and Amazon who all charge between $4.99 and $8.99 per month for basic service.
That's AT MOST $20/mo if all of those users paid for both. Which they dont even claim. So a competitive price for a Twitter blue alternative would net them ~$180M and ~$100M from media subscriptions. Where in the world are they getting the other $920M in their projections?
OMG Hahahahaha
No lie told because that is ridiculous
“Big Tent Approach - all are welcome”. 🤣
From page 25 of this presentation:
A graphic shows a Trump post on Truth social that reads.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut pretium pretium tempor. Ut eget imperdiet neque.
Which google translates to:
The customer is very important, the customer will be followed by the customer. In order to pay the price in time. It does not need financing.
Lorem ipsum is a pretty common placeholder text in publishing, to give an idea of what a font/page layout would look like.
In other words, they thought it safer to use random placeholder gibberish for their presentation, than use Trump's actual shitposts.
TIL. Thanks for the info. I had no idea that was even a thing til now
So they either did not do proper finance analysis or they are hiding numbers from shareholders, neither of which inspire confidence.
Material weaknesses means they "lost" paperwork, right? I'm guessing as that's his only move.
Dunno, I was actually leaning more towards the “indefensible, blatantly criminal fabrication of ‘facts’ of the sort that crumble under even the most casual gaze” kind of material weakness.
Material weakness means you failed the audit, and the firm will not state that the financial disclosures can be relied on.
Look in his bathroom, I’m sure it’s there somewhere.
He does apparently have a habit of trying to flush documents.
And eat them.
Just saying
First one, then the other.
Material weaknesses
I was looking for its meaning in finance and found this https://www.investopedia.com/terms/m/materialweakness.asp
LOL they are fubar
What? No. He’s known to also eat documents.