"He's driven every business he's ever run into the ground and left investors holding the bag while he gets off scot-free, but I'm sure THIS time will be different!" - Truth Social investors
Those losses!! $39M in interest expenses? Am I reading that right? Who lent that money?
Overall this is going to be kind of amazing to watch, like how it's engaging to watch people playing those life-sized jenga games
Combine that with the R&D expenses, I mean, what are they R'ing or D'ing, here? overall looks like a good plan to extract value from shareholders through overpriced consultant contracts and high-interest loans. It all falls apart in five years but the consultants and lenders were already paid
I have a feeling the DOJ has been already looking into all this. If Biden is reelected I'd be shocked if no one went to jail over all this. It feels very shady, even for what it is.
The "value" in my view is mostly in the meme and perceived political clout. It's fair to attribute a meme "value" in the sense that people pay for this (like they'd pay for a live-action Pokemon moviefilm in 3D), BUT in this case it really ain't funny.
The main "value" the TFG meme would have that would hold on, is ironically from post-civil war 2 trophies like neoconfederate banknotes with his face on them, which kids loot out of wrecked gear, as happened in the UK back during WWII.
I bet the interest has to do with the change in value of derivative liabilities at end of last year. I.e. calling loans profits because they aren't bound by GAAP yet.
No, a successful McDonald's franchise also turns a profit 🤣
It's extremely obvious that Truth Social is just a way for billionaires and oligarchs to funnel money to Trump's campaign, circumventing any disclosure or campaign finance laws
They collectively stand to gain far more than a couple billion dollars if Trump blocks the TikTok ban, ends Ukraine aid, lowers corporate taxes, etc.
So in that sense it is rational
It's just rational corruption
I would say stupid AND bigoted enough to willingly ignore his blatant crimes and fluid morals. They know he will sell out the country the second he is in office. They just don’t care because he is the candidate most willing to murder the same non-white people they want to murder.
The 8K is full of nonsense, as you'd expect. My big question is: why did they use the SPAC method to go public? I mean, I know why in actuality, but what possible justification could there be that someone could say with a straight face?
Why in actuality: it's a low-effort method that's beloved by shady people who don't mind being beholden to a bunch of pre-existing shareholders. Otherwise known as: a perfect description of Donald Trump, who knows he's already beholden to the Russians.
Also, Q4 revenue was down 33% from a year prior, $1.13M to $0.75M. Paying 1000x revenue for a negative-growth company is quite the investment. (To get Q4 you have to subtract Q1-Q3 from FY.)
www.sec.gov/Archives/edg...www.sec.gov/Archives/edg...
Tiny brain: Truth Social is overvalued
Big brain: There is an unsustainable disconnect between a firm's profits and assets and its valuation
Galaxy brain: McDonald's is undervalued; BUY NOW
With your investment they can finally afford crucial upgrades that will significantly reduce maintenance needs!
They won't do that with the money, but they could.
WTF with $40M In interest expenses? Two years in a row of R&D and operating expenses being nearly $20M and it's taking in less than $4M in actual revenue?
No one would buy this turkey if they weren't looking to curry favor with TFG.
Pre-elon Twitter at least about broke even.
I don't recall what the fundamentals of tech startups were in the 90s. Or now, really -- but recall also that a lot of those failed miserably and returned zero -- it was just that VC tolerated that hoping for so.e that would become things like apple and Google, or get bought by one of those.
New York has this thing called the Martin Act where the AG can go after offerors of securities for civil and criminal penalties, and these stocks trade on the NASDAQ, located in Manhattan, so...
