Dem
51
GOP
49
The Q1 financials for publicly traded companies were due to the SEC last week, and the numbers for Trump Media and Technology Group (TMTG) were grim. The company made $770,500, while spending $327.6 million. That's a loss of $327 million. TMTG claims that $311 million of that was a one-time expense due to merging with Digital World Acquisition Corporation, though even if you accept that, we're talking losses that are 22x revenues. That's no way to stay in business.
TMTG also claims that things are going to turn around eventually, and the only reason the company is losing money is because it is focused on long-term product development. So, what long-term products are going to put the company in the black? Here is the answer from TMTG's press release:
By adding features to Truth Social, launching live TV streaming, and building out its ecosystem, the Company aims to first develop a slate of best-in-class products that can then be leveraged to increase revenue and drive long-term value.
Sounds like a bunch of corporation-speak to us; the only things missing are references to "synergy" and "core competencies." The only thing there that represents some actual, new product is "live TV streaming," which is an area already dominated by a number of behemoths, and where it takes billions to get any market share whatsoever.
The stock price for DJT is still holding fairly steady; it closed at $48.38 yesterday. But there are so few shares available for trading, and those that do exist are so tied up in shorts and maneuvers like that, it's impossible to know what the shares will actually be worth once the floodgates open. There will be one more SEC filing, due August 9, before Donald Trump can start selling shares on October 6. And on that day, we will learn if this company is going to end up as his financial lifeline, or if his house of cards remains in danger of falling. (Z)