Write Review
1,893,578 Total Reviews 3,637 New Reviews
13,748 Users Online

Politics and Religion

Bad News, Good News for Trump
impposter 49 Reviews 291 reads
posted

It was reported that the firm that did the official financial audit of Trump Media and Technology Group (Stock Symbol: DJT) included a warning as part of their official audit report:
"Trump Media auditor warns that losses 'raise substantial doubt' about company's ability to continue."
http://finance.yahoo.com/news/trump-media-auditor-warns-losses-175621421.html (April 2, 2024)
"... The filing includes a note from an independent accounting firm, Colorado-based BF Borgers CPA PC, warning that Trump Media's "operating losses raise substantial doubt about its ability to continue as a going concern." ..."
.
The good news for Trump is that he can claim that his auditors are incompetents who don't know what they're doing or talking about:
http://finance.yahoo.com/news/trump-media-accounting-firm-history-150150627.html (April 8, 2024)
Trump Media’s Accounting Firm Has Audit Deficiency History.
"Donald Trump’s social-media company just became the most valuable publicly traded client of an accounting firm that has more experience auditing companies traded over-the-counter and has had a string of regulatory issues, including a ****100% deficiency rate on audits**** reviewed by a US watchdog. ..."  
.
"Trump Media & Technology Group Corp. said in recent regulatory filings that it will keep BF Borgers, a Lakewood, Colorado-based accounting firm, as its auditor after starting to trade publicly late last month. A Canadian regulator said last year that BF Borgers violated its rules for auditors, while the US’s Public Company Accounting Oversight Board found multiple deficiencies in every audit it reviewed from the firm over the past two annual checks. ..."
.
"Congress created the PCAOB to oversee the work of auditors and restore investor confidence in corporate accounting, [anybody remember ENRON? WorldCom? Mazars and Trump Org?] tapping the Securities and Exchange Commission to appoint its members. The regulator’s inspections look at a small sample of client audits. They measure whether auditors had sufficient evidence to back up their assessments of companies’ financial statements, providing a performance gauge for corporate directors and investors. Negative findings from the regulator indicate flawed processes or technical violations of the board’s rules. ..."
.
"The Washington-based audit regulator found problems with the firm’s testing procedures for bedrock measures such as revenue and accounts receivable, among other issues. In 2022, the PCAOB placed a two-year ban on one of BF Borgers’ audit directors for failures on the audits of Chineseinvestors.com Inc., United Cannabis Corp. and China Pharma Holdings Inc. China Pharma’s shares are down 99% in the past three years. ..."  
.

durran4219 reads

The cult leader and his followers are clearly getting upset because they know what will actually happen in November.

ReplyQuoteReport
cks17511 reads

Pre-merger

As of the end of 2023, Trump Media had about $2.6 million in cash on hand and total liabilities of $70.1 million, according to the filing
Post Merger
The company received an infusion of about $300 million from its merger a week ago with shell company Digital World Acquisition Corp.
Closing out the 2023 financials related to the merger, Truth Social today has NO DEBT and over $200 million IN THE BANK, opening numerous possibilities for expanding and enhancing our platform

Naysayers point to operating losses, but either ignore or don’t realize that the main expense pre-merger was interest payments (in the tens of millions), but the company now has a positive cash balance. Operating losses should drop significantly.

Related Link: Yahoo News Buried Lede: DJT Stock In Great Shape Post Merger

ReplyQuoteReport
impposter18 reads

Your attached image was for Trump's first two years only and didn't compare the market performance under other POTUSes. There are lots of charts out there (2 yrs, 3 yrs, entire term [Obama 8 years; Trump 4 years], other POTUSes [Reagan, Bush, Clinton, Bush, ...]). Here is the overlay of Obama's and Trump's first 3.5 years.  (Trump's recession, not shown, makes his full term legacy much worse.)

Posted By: cks175
Re: Diving Deeper: Bad News Pre-Merger, Good News Post Merger
Pre-merger
As of the end of 2023, Trump Media had about $2.6 million in cash on hand and total liabilities of $70.1 million, according to the filing
Post Merger
The company received an infusion of about $300 million from its merger a week ago with shell company Digital World Acquisition Corp.
Closing out the 2023 financials related to the merger, Truth Social today has NO DEBT and over $200 million IN THE BANK, opening numerous possibilities for expanding and enhancing our platform
 
   
 Naysayers point to operating losses, but either ignore or don’t realize that the main expense pre-merger was interest payments (in the tens of millions), but the company now has a positive cash balance. Operating losses should drop significantly.

ReplyQuoteReport
inicky4613 reads

Just what we expect from a partisan hack.
I love it when he gives me a chance to use this one....

ReplyQuoteReport
cks17511 reads

Imp is focusing on random graphic, but ignoring the pre/post merger facts re the balance sheet.

ReplyQuoteReport
inicky4610 reads

with partial information on it. And now you’re trying to divert from that.

ReplyQuoteReport
cks1759 reads

The graphic, selected randomly, is factual and accurate. The text accompanying the graph is factual and accurate.  

Bottom line, Yahoo News buried the lede and Imp missed it.

ReplyQuoteReport
durran42111 reads

Imp missed it because he's a cultist and doesn't look for actual facts. He's only interested in pushing anti Trump TDS cult-like blabbering that goes on for a country mile.  
Icky dick clung to it like velcro because he fails to read anything and openly believes every thing that the anti Donald Trump clan vomits. He's a band wagon-er who's unable to write his own words. He copies everyone else.

So, there's that.....

ReplyQuoteReport
impposter22 reads

Replying to both of cks's posts:
.
1.

Re: Cute how Imp misreads by focusing on a random picture.
Imp is focusing on random graphic, but ignoring the pre/post merger facts re the balance sheet.
YOU selected the "random graphic" which has NOTHING to do with the topic = the performance of Trump's DJT stock and its audits since 2022. The image you "randomly" selected is from 2019: http://ei.marketwatch.com/Multimedia/2019/03/06/Photos/ZH/MW-HF129_trumps_20190306110824_ZH.jpg  Why did you "randomly" seek out a 2019 picture about Trump's term from 2017-2019 from Marketwatch? What does THAT have to with DJT 2024?
.
2.
Posted By: cks175
Re: Diving Deeper: Bad News Pre-Merger, Good News Post Merger
The graphic, selected randomly, is factual and accurate. The text accompanying the graph is factual and accurate.  Bottom line, Yahoo News buried the lede and Imp missed it.
Are you trying the trick people into thinking that image you attached is from the Yahoo News story about DJT and the accounting firm used to audit it? Yahoo buried the lede (with an image about Trump 2019) and I missed it? YOU searched for that image and found it at Marketwatch.
.
How about posting a relevant image, e.g., the recent performance of DJT. I can't find a jpg, jpeg, gif, bmp or png to display automatically. Here is a static (cf., dynamic) DJT performance chart from April 3, 2024 to April 10, 2024 (right click and "open in new tab").
http://images.jpost.com/image/upload/f_auto,fl_lossy/591193
DJT has been falling consistently from around $51 on April 3 to $37.46 on April 10. At the close on Friday, April 12, DJT had fallen to $32.59 (and is falling more in after hours activity). On Mar 26, 2024, its first day of trading, it reached a high of ~$79. It's been downhill ever since.  In 18 days on the NYSE, it has only managed to lose around $47 of value = 47/79 x 100 = ~60%.
.
And Trump has made more legally questionable posts trying to PUMP up the DJT stock price. Those and other posts by Trump are likely to lead to SEC sanctions and shareholder "pump and dump" lawsuits.

ReplyQuoteReport
cks1759 reads

Imp is focusing on random graphic, but ignoring the pre/post merger facts re the balance sheet
Imp is still ignoring the pre/post merger facts…

It’s obvious Imp is also having trouble wrapping his head around the concept of random selection

YOU selected the "random graphic…
The image you "randomly" selected is from 2019…
Why did you "randomly" seek out a 2019 picture about Trump's term from 2017-2019 from Marketwatch?
Above you see Imp’s inability to understand random is sinking to GentleGuy levels of stupidity.
1. Open new browser tab
2. Type in “Trump, stock”
3. Multiple pics of Trump superimposed over stock market charts appear.
4. Right click on a top row picture
5. Click “copy”
6. Paste into P&R comment

Imp doesn’t realize that’s how a pic was randomly selected, and his conspiracy theory has himself worked up into a lather…

YOU searched for that image and found it at Marketwatch.
Of course “I” searched for it. Who else would?  
As shown above, I never went to the Marketwatch page. The image was pulled from the Safari browser search page.

As opposed to my random search, Imp attempts a NASDAQ: DJT specific search and fails:

How about posting a relevant image, e.g., the recent performance of DJT. I can't find a jpg, jpeg, gif, bmp or png to display automatically
This flusters Imp. In fact, Imp’s so flustered, he even questions the topicality of a “Trump, stock” searched image in a thread about Trump and stocks. Go figure…
What does THAT have to with DJT 2024?
Hmm, let’s see. A thread about DJT’s stock. A comment about DJT balance sheets and good news post merger, and a buried lede. Attached, a pic of DJT superimposed over a positive, rising stock chart. Sounds generally topical to me.

Imp’s let this image search get to him so badly, he not only writes another gibberish book report, he assigns a nefarious conspiracy to it:

Are you trying the trick people into thinking that image you attached is from the Yahoo News story…?
Imp, the answer is no. Reverse engineer your theory. Would anyone here be stupid enough to believe a 2019 stock chart was tracking 2024 performance? The answer is only GentleGuy.  

Now that that’s put to bed, why don’t you counter my good news post about Truth Social with some bad news? Its value just dropped 10%. Do you want to know why? Try a topical search and I think even you will find the answer.  The only remaining question is if you’ll be able to find a topical picture to post along with your reply!

ReplyQuoteReport
Post Reply Back To Forum
Register Now!