300 million dollar net loss of Trump media in 3 months
Eviralnews, citing the Associated Press news agency, “Trump Media and Technology Group” TMTG, which is owned by former US President Donald Trump, announced in its first earnings report as a publicly traded company that it raised more than 300 million dollars in The first quarter of 2024 is lost.
The company, which owns the social network True Social, posted a loss of $327.6 million in the three months ended March 31, which the company said included $311 million in non-cash charges related to its merger with Digital World Acquisition. Digital World Acquisition Corp. will be
Meanwhile, Trump's media and technology group known as “Trump Media” announced a loss of $210,300 a year ago.
The company said it earned $770,500 in revenue in the first quarter of this year, mostly from the company's “nascent advertising initiative.”
Trump Media said in its earnings report: “At this early stage of the company's development, TMTG Group is focused on long-term product development rather than quarterly revenue.”
Earlier this month, the company fired its auditor, who was accused of “massive fraud” by US regulators.
Media Trump fired BF Borgers, its independent public accounting firm, on May 3 and delayed the presentation of its quarterly earnings report, according to a filing with the U.S. Stock Exchange.
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