Tristan SnellThe bigger question on Truth Social:
Who is funding the company and allowing it to function while losing $73 million?
Where is that money coming from?
Brian DearThere was once a lot of money behind it. But as they say, fools and money, soon parted
SPAC to return remaining $533 million raised for Trump social media deal
Digital World Acquisition Corp <a href="https://www.reuters.com/markets/companies/DWAC.O" target="_blank">(DWAC.O)</a>, the SPAC that plans to merge with former U.S. President Donald Trump's media and technology company, said this week it would return to investors $533 million raised for the deal, after some have already backtracked on $467 million of commitments.
Mark vW@tristansnell Da! I want to know too, Comrade!
ArtemesiaBTW, when you look at the actual S-4 as opposed to the $73 mil-loss-screaming headline, which appears to be quite wrong, they actually reported a $30.9 mil operational loss over the last 18 months finishing June 2023. They also incurred a $24.6 mil "interest expense" over that period, which likely partially addresses your questions. Who "loaned" them the money? I dunno. https://www.theguardian.com/us-news/2023/mar/17/trump-media-executives-worried-over-murky-8m-loan
Losing $30.9 mil on just a couple mil gross revenue is already terrible, I don't see why anyone felt they needed to embellish.
Phil Allsopp@tristansnell reviewing the detailed “Sources & Uses of Cash” and trachking down the sources (net income, cash equity and so on) should illuminate the magnitude of cash injections. And then there’s the oroblem of from whom those cash injections came.
Skrynesaver@tristansnell Was it ever a social media platform?
I'd view it more as a way of avoiding declaring election expenses, on one level you have to admire the dedication to open fraud.
I'd view it more as a way of avoiding declaring election expenses, on one level you have to admire the dedication to open fraud.