Social Trumps Truth Social made 4 million and lost 58 million in 2023.

$52.33 in the pre-market for DJT. Meteoric rise during an overall down market.

Hard to believe because the best figures I could get yesterday afternoon estimate a -20% user engagement drop off year over year for Truth Social from march to march.

and if you want a little glimpse into the shady ass business practices that spawned this business the trial of one of the accussed insider traders has begun-


If Andy L is to be believed, he has been strong armed and stiffed out of 10's of millions even though him and Moss were only going to own 10% tops, by Donald but that seems to out of character that I find the mere thought of it implausible.

Amazingly today is May 1st, as 2024 zips past faster than any year before it. If I am correct, a big IF, publicly traded DJT will have to publish audited financials by May 15th.

Now I get meme stocks have changed the paradigm, but as an old school, buy and hold, strong balance sheet and dividend loving investor, I would cash out a lot before those numbers go public.

My guess is they will follow the Elon playbook and announce some kind of wildly fantastical promise of future revenue streams right before or in the conference call, if they even have one, right after those number hit.

to inspire any confidence at all in the actual fundamental soundness of the business, they need to show quarterly revenue well above 1 million and it would help if they gave user growth and engagement figures.

Now having said that I'm all about fundamentals, let me ruin my argument by pumping my favorite little high risk penny stock Kraken Robotics KRKNF. Currently selling at .75c, Kraken announced another sub sea scanning contract yesterday for 8 million, or double DJT's yearly revenues last year. They are showing something like 250% year over year revenue growth, have a huge pipeline of projects that will continue to pay them steadily for years, and are building additional relationships with businesses and navies around the globe.

What do I know about underwater unmanned vehicle dynamics? Fuck all. But I do know we've pillaged and overpopulated the land, are over fishing the sea, so our two options for future resources are deep water or outer space. And I know which of those 2 is closer and better known to have modules of rare earth minerals littering the sea floor and Norway is leading the race to abuse our planet down there with other countries not likely to let them profit alone.

$51.86 after all my tl/dr typing
 
Last edited:
alrighty so the stock price keeps rising but does the value of the underlying company?

Form CNN today-

Truth Social’s average number of daily active US users on iOS and Android dropped by 19% year over year in April to about 113,000, according to data shared exclusively with CNN from Similarweb, a data intelligence company.

The Similarweb data, which captures the first 29 days of April, showed that the average number of users dipped 4% month over month. That drop comes despite the considerable attention received by the ongoing Trump criminal trial and the growing focus on the US presidential election.

Countered by-

Trump Media spokesperson Shannon Devine responded to a CNN inquiry by arguing Truth Social continues to grow and by criticizing the media.

“In just a few years Truth Social has amassed millions of users and our user base is rapidly expanding every day, though it’s unsurprising to see the politicized media cherry pick some unreliable estimate to downplay our success,” Devine said.

So depending on who you believe, a research firm or Devine it is either contracting or expanding each day.

The clock is ticking on when they have to produce audited and actionable revenue numbers.

The clock is also ticking on a number of lawsuits and when the lock ups expire.

Buy your tickets and take your ride if you got the nutsack for this roller coaster. I'm off to the tea cup ride myself.
 
Wow! What a shocking surprise! Only the best people!

  • The auditing firm for Trump Media and the auditor’s owner were charged with “massive fraud” by the Securities and Exchange Commission for work that affected more than 1,500 SEC filings, the federal regulator announced.
  • The auditor, BF Borgers CPA and its owner Benjamin Borgers have agreed to be permanently suspended from practicing as accountants before the SEC, and also agreed to pay a combined $14 million in civil penalties, the SEC said.
  • The share price of Trump Media, which owns the Truth Social app, was down 9% shortly after trading began.
 
HOLA said:
Wow! What a shocking surprise! Only the best people!

  • The auditing firm for Trump Media and the auditor’s owner were charged with “massive fraud” by the Securities and Exchange Commission for work that affected more than 1,500 SEC filings, the federal regulator announced.
  • The auditor, BF Borgers CPA and its owner Benjamin Borgers have agreed to be permanently suspended from practicing as accountants before the SEC, and also agreed to pay a combined $14 million in civil penalties, the SEC said.
  • The share price of Trump Media, which owns the Truth Social app, was down 9% shortly after trading began.
Click to expand...

alright, time for the government to run their own forensic audit of trump media and shut down shop. a company that lost 50 million dollars and brought in only 3 million dollars in revenue in its first year is not worth billions of dollars, and that should be the first obvious sign that they are cooking the books.

they can agree to be permanently barred from practicing accounting and agree to pay a 14 million dollar fine. perfect! now they dont have to waste the courts time with that. they seem to want to be cooperating with no objections because they know what they did was totally wrong and they are terrified of going to prison for an orange fraudster and rapist, but too bad, law and order bitch. it's time to get their criminal referrals in and criminally charge these accountants and the company for over 1500 counts of fraud!
 
Last edited:
idrankyourbeer said:
alright, time for the government to run their own forensic audit of trump media and shut down shop. a company that lost 50 million dollars and brought in only 3 million dollars in revenue in its first year is not worth billions of dollars, and that should be the first obvious sign that they are cooking the books.

they can agree to be permanently barred from practicing accounting and agree to pay a 14 million dollar fine. perfect! now they dont have to waste the courts time with that. they seem to want to be cooperating with no objections because they know what they did was totally wrong and they are terrified of going to prison for an orange fraudster and rapist, but too bad, law and order bitch. it's time to get their criminal referrals in and criminally charge these accountants and the company for over 1500 counts of fraud!
Click to expand...
Working for Trump is like a young woman dating Leonardo DiCaprio. They are somehow convinced THEY will be the one to have Leo change his heart about dumping women at the age of 25 and get him to to care for them for forever.

Then reality hits.

Every
Single
Time
 
eddymotto said:
A lot of this same posters who have been telling us for the last 2 years that X is about to go bankrupt because Elon actually stands up for free speech are now telling us that Truth Media is over-valued. yeah. sure thing. I will get right on that.
Click to expand...
Buying shares?
 
lmao

www.businessinsider.com

The man who audited Trump's social-media company misspelled his own name 14 different ways: FT

Ben F Borgers used 14 variations of his name in regulatory filings, including Blake F Borgers and Ben F orgers.
www.businessinsider.com www.businessinsider.com

The accountant hired to audit former President Donald Trump's media company seemed to have a lot of trouble spelling his name, the Financial Times reported on Wednesday.

Ben F Borgers, the founder and managing partner of the accounting firm BF Borgers, spelled his name 14 different ways in regulatory filings for the Trump Media and Technology Group, the Financial Times reported, citing data it had reviewed from the Public Company Accounting Oversight Board.

Some variations, like Ben F Brogers and Ben F orgers, appeared to be minor spelling mistakes. But others, like Blake F Borgers and Ben F Vonesh, were entirely different names.
 
HOLA said:
lmao

www.businessinsider.com

The man who audited Trump's social-media company misspelled his own name 14 different ways: FT

Ben F Borgers used 14 variations of his name in regulatory filings, including Blake F Borgers and Ben F orgers.
www.businessinsider.com www.businessinsider.com

The accountant hired to audit former President Donald Trump's media company seemed to have a lot of trouble spelling his name, the Financial Times reported on Wednesday.

Ben F Borgers, the founder and managing partner of the accounting firm BF Borgers, spelled his name 14 different ways in regulatory filings for the Trump Media and Technology Group, the Financial Times reported, citing data it had reviewed from the Public Company Accounting Oversight Board.

Some variations, like Ben F Brogers and Ben F orgers, appeared to be minor spelling mistakes. But others, like Blake F Borgers and Ben F Vonesh, were entirely different names.
Click to expand...
Fuck sake
 
and yet the stock price stays resilient down just a touch and just under $48 a share. Can you imagine the price drop on META or AAPL if this news had been about their auditors?

@HOLA @idrankyourbeer - I don't think these guys have been DJT's auditors for more than a few months. I believe they had a bigger more respected firm that dropped them as a client and this criminal took over.

The funny thing is in my post this morning I pointed out audited Q1 results are due by the 15th, but this "Massive Fraud" and the permanent suspension will allow them to cry and buy more time.

And it lends more credence to my belief that the user base is declining as stated by an outside company vs the DJT spokesperson saying they are growing.

If they were actually growing wouldn't DJT publish those good numbers like other social media companies do?

Why didn't their spokesperson give actual numbers instead of vague assurances. One wonders why a public company reliant on advertising would hide it's customer growth?

and it shows that Devin Nunes clown shoes need polishing.

But on paper DJT has made Donny Shark eyes multiple billions and Devin "Cowboy" Nunes gets a million dollar salary and perks for making strong executive decisions like hiring a boiler room accountant that was already under restrictions in Canada. So they must be smarter than I am....not more honest, but smarter...

Cue the fanatical "Witch Hunt" "Politically Motivated" "Hunter Biden" "what about _____" nonsense that might distract from the simple basic facts.

Facts like there has been insider trading on this before it tied up with DWAC, Everyone involved early on is suing everyone else. Donald is trying to screw everyone that started his company for him. Their revenue last year was something paltry like 4.1 million dollars and their loses were over $50 million dollars. Independent firms are saying user growth is going down.

An investor could buy something like 2.75 shares of AT&T, get a dividend, actual factual audited results going back decades, and no courtroom drama both criminal and civil or 1 share of DJT. Who are these people saying that DJT looks like a winner to me?


OMG I missed the Freudian slip where this guy called himself Ben F orgers........that is almost too purely beautiful for words because he has certainly Been a Liar..if not a Forger.
 
Last edited:
HOLA said:
lmao

www.businessinsider.com

The man who audited Trump's social-media company misspelled his own name 14 different ways: FT

Ben F Borgers used 14 variations of his name in regulatory filings, including Blake F Borgers and Ben F orgers.
www.businessinsider.com www.businessinsider.com

The accountant hired to audit former President Donald Trump's media company seemed to have a lot of trouble spelling his name, the Financial Times reported on Wednesday.

Ben F Borgers, the founder and managing partner of the accounting firm BF Borgers, spelled his name 14 different ways in regulatory filings for the Trump Media and Technology Group, the Financial Times reported, citing data it had reviewed from the Public Company Accounting Oversight Board.

Some variations, like Ben F Brogers and Ben F orgers, appeared to be minor spelling mistakes. But others, like Blake F Borgers and Ben F Vonesh, were entirely different names.
Click to expand...



nothing dodgy about signing off on filings with the name ben forgers or ben f. orgers. is normal.

sincerely yours,
fen borgers
 
HOLA said:
Wow! What a shocking surprise! Only the best people!

  • The auditing firm for Trump Media and the auditor’s owner were charged with “massive fraud” by the Securities and Exchange Commission for work that affected more than 1,500 SEC filings, the federal regulator announced.
  • The auditor, BF Borgers CPA and its owner Benjamin Borgers have agreed to be permanently suspended from practicing as accountants before the SEC, and also agreed to pay a combined $14 million in civil penalties, the SEC said.
  • The share price of Trump Media, which owns the Truth Social app, was down 9% shortly after trading began.
Click to expand...
- How Trump can still operate business all those years, surprises me. He has stiffed and stabed everyone by their fronts for years. I dont know USA laws about it, but didi he ever loss his power to operate a business? Happens even here.
 
righto I was wrong, the Forgers accounting company did audits for Trump Media Group before the merger with DWAC.

So in summation. A crooked man Trump forms Truth social under the Trump Media Group and makes a deal with a crooked man Orlando who ran DWAC based on crooked numbers from a crooked accountant Borgers to bring that company public and enrich himself immensely.

Before that deal is even public other crooked men trade on insider information and make 20 million crooked dollars, getting the crooked merger fined by the maybe crooked SEC for 18 million dollars. But using some of those now exposed as likely crooked numbers the SEC finally passes the crooked merger of these crooked men.

The crooked man running Trump media then tries to screw the guys that made Truth Social out of all of their money and Orlando out of some of his, lawsuits fly.

Those lawsuits have to wait because the crooked man is under 80+ indictments, running for president, and currently falling asleep in court during his trial for paying hush money to a porn star because he slept with her while his 3rd wife was home with their newborn baby opening himself up to blackmail by her and another playboy bunny who was so desperate to become "a brand" that sleeping with Trump was her best option.

This crooked company makes roughly 1 million in revenue a quarter while losing roughly 12, might be shrinking its user base, is run by a man with no experience in the tech field who is paid 1 million a year to do things like hire an accounting firm that is put out of business for "Massive Fraud" by the maybe not crooked SEC after less than 2 months of being a public company after your other accounting firm dropped you as a client.

BUT this may be a good thing for the crooked man at the top because he stands to make something like 4 BILLION dollars if he can sell his shares after a 6 month lock up period expires in Sept. And now they can apply for and get an extension before they have to release audited numbers which would very likely tank the stock.

So if you are the crooked man or men at the top, don't you just twiddle your thumbs and say we're trying oh so hard to find new accountants, ones that are honest as the day is long, to get you those audited financials and we should have them to you roughly Oct 1st or thereabouts give or take a couple of weeks.

And if you are a reputable accounting firm, don't you look at the devastation this client's lawyers and accountants, and contractors, and business partners, and cabinet members, go through working with him and say Oh FUCK THAT! and pass on him as a client?

This kind of behavior and business practices can't continue because faith in the honestly of the marketplace is the only thing that keeps the marketplace going (though greed surely plays a role too), and thus the world economies running.

14 million fine for Borgers is not nearly enough, he needs to face serious jail time like the Enron execs, like Madoff, like Bankman Fried, etc.

You can't reward crooked men billions of dollars then fine them millions and expect them to stop cheating.

Oh and all of this is being underwritten by "investors" who are either blindly loyal to the crooked man at the top and too stupid to see the valuation of this company is nuts or trying to buy influence with the crooked man at the top, or greedy enough to not care about all of the above and hope that they have caught the next "meme stock".

There are 10's of thousands of honest publicly traded companies with decades of history of audited financial success on their records, many of which pay you a dividend every quarter potentially for as long as you hold them and yet people have bid up DJT this past week.

Insanity https://www.flickr.com/photos/swanksalot/29160592045
 
Last edited:
HOLA said:
Wow! What a shocking surprise! Only the best people!

  • The auditing firm for Trump Media and the auditor’s owner were charged with “massive fraud” by the Securities and Exchange Commission for work that affected more than 1,500 SEC filings, the federal regulator announced.
  • The auditor, BF Borgers CPA and its owner Benjamin Borgers have agreed to be permanently suspended from practicing as accountants before the SEC, and also agreed to pay a combined $14 million in civil penalties, the SEC said.
  • The share price of Trump Media, which owns the Truth Social app, was down 9% shortly after trading began.
Click to expand...
To the surprise of no one. Inb4 the duh-fence squad.
 
From Bloomberg-

Semple, Marchal & Cooper LLP, a small Phoenix-based accounting firm, just landed a client that’s bigger by far than all its other audit clients combined: Trump Media & Technology Group Corp.

Trump Media picked the firm after US regulators on Friday shut down its previous auditor, calling that firm a “sham audit mill.” The former president’s much-watched social media startup has a market capitalization of $6.7 billion as of Monday. Semple, Marchal & Cooper has two other Nasdaq-listed companies on its roster, according to data from the US audit regulator.

The firm’s largest client was Quest Resource Holding Corp., a Texas-based waste management company, with a market capitalization of $214 million—more than 30 times smaller than the former president’s social media firm.

Its next largest client, a cyber security software firm based in Scottsdale, Ariz., has a market capitalization of $13 million, according to Bloomberg.

It will be interesting to see if they are up to the task or even want the task once they get a look at what they are dealing with. Step one, ask for more time to file Q1. Step two decide if your client is being forthright with whatever documentation and numbers they give you.

not for nothing but a lot of people that worked for Trump have lost their ability to practice law, accounting or just get paid. Many end up in courtrooms fighting for their money owed them or just fighting to stay out of jail.

Small Phoenix company will have a big challenge in front of them untangling anything Borgers did wrong and presenting defensible numbers because this puppy will definitely be under intense scrutiny.
 
Loiosh said:
You know, at the end of the day I hope the stock does well.

Fuck Trump, but it looks like a lot of people will get hurt when the stock craters. It may be their own fault but I'd still rather it didn't happen.
Click to expand...
Naw. Unfortunately these things require harsh fallout to teach harsh lessons. Placating stupidity and people who allow such demagogues to rise to power is not the right thing, even if it makes you sleep better at night.
 
Why Truth Social would be worth more than 100 bucks is beyond me, it's an absolute parody of a social media platform, literally a carbon copy of twitter with primarily one person using it. I can't believe it's lasted this long.
 
Natural Order said:
Naw. Unfortunately these things require harsh fallout to teach harsh lessons. Placating stupidity and people who allow such demagogues to rise to power is not the right thing, even if it makes you sleep better at night.
Click to expand...
It'll be interesting to see if TR7MP cashes out once he's allowed to sell his shares and tanks the stock himself.
 
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