(TargetLiberty.org) – A new regulatory filing has shown that an auditor has expressed concerns over whether or not former President Donald Trump’s publicly traded company would be able to remain in business.
The Monday filing noted that in 2023 the Trump Media and Technology Group, which handled the Truth Social Platform, had reportedly generated $4.1 million in revenue while losing $58.2 million. The filing was made to the Securities and Exchange Commission.
Previously Trump Media had listed that their largest expense was the over $39 million that they needed to pay each year in interest payments.
BF Borgers CPA PC, an independent Colorado-based accounting firm had written a note which was included in the filing in which they noted that the Group was operating at a loss and there were concerns regarding whether or not it would be able to continue operating.
In a separate filing on Monday, the risks that Trump Media is facing were also described with reference to the auditor’s analysis. Borders started to work with Trump Media in 2022.
The date on the note is March 25, which is only one day before Trump Media started trading in the Nasdaq stock exchange using the symbol DJT.
On Monday the company’s shares fell by over 21 percent to $48.66, with its market value rising to over $6.5 billion. A Trump Media spokesperson noted that closing out the merger, Truth Social did not currently have any debt and the company had more than $200 million in the bank.
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