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CNN —Trump Media & Technology Group lost more than $300 million during the first quarter and generated very little revenue, the owner of Truth Social announced in a press release Monday. Trump Media (DJT) reported a loss of $327.6 million during the first three months of the year, compared with a loss of $210,300 a year earlier. (Regulators made no allegation of wrongdoing against Trump Media, which was not mentioned in the charges against the auditor.) Experts have said the price tag on Trump Media stock defies logic given the company’s financial results and small footprint in social media. Despite all the fanfare for the public listing earlier this year, Truth Social remains a very tiny player in social media.
Persons: CNN —, Donald Trump, , Devin Nunes, Nunes, Semple, Cooper Organizations: CNN, CNN — Trump Media & Technology Group, Truth Social, Trump Media, Company, Big Tech, ” Trump Media, Marchal, Regulators
Trump Media & Technology Group filed a notice to the US Securities and Exchange Commission on Wednesday that it would delay its quarterly filing, just days after the regulator charged its former auditor with fraud. Former US President Donald Trump’s media company said it was unable to complete the review of its financial statement for the quarter ended March 31 due to the timing of its appointment of Semple, Marchal & Cooper as the new auditor. The company dismissed previous auditor BF Borgers, after the SEC charged the accounting firm with “massive fraud” earlier this month. The stock has since then cut its gain to about 5%, giving it a market value of about $7 billion. Truth Social’s revenue was $4.13 million last year, up from $1.47 million in 2022.
Persons: Donald Trump’s, Semple, Cooper, BF, Trump Organizations: Trump Media & Technology Group, US Securities and Exchange Commission, Marchal, SEC, Nasdaq
A federal jury in New York on Thursday convicted an investor of insider trading in the stock of a shell company ahead of its announcement in October 2021 that it would merge with Trump Media . Two co-defendants of Garelick, the brothers Michael and Gerald Shvartsman, pleaded guilty to insider trading charges on April 3. "Garelick's federal conviction is yet another stark reminder that insider trading is always a losing bet." DWAC and Trump Media completed their merger in late March. Trump Media hired a new auditor, Semple, Marchal & Cooper LLP last weekend to replace BF Borgers.
Persons: Bruce Garelick, Donald Trump, Stormy Daniels, Michael, Gerald Shvartsman, Garelick, Michael Shvartsman's, Damian Williams, Williams, DJT, Benjamin Borgers, Semple, Cooper Organizations: Manhattan Federal Court, Trump Media, Trump, Garelick, Rocket, Prosecutors, Acquisition Corporation, Trump Media & Technology Group, Manhattan U.S, Public, Securities and Exchange Commission, SEC, BF, CPA, Marchal Locations: Manhattan, New York City, New York, U.S
Trump Media hired a new auditor over the weekend, after its previous public accounting firm was accused Friday of perpetrating a massive fraud by the Securities and Exchange Commission. Trump Media said it had engaged Semple, Marchal & Cooper LLP on Saturday to replace BF Borgers. The ban required Trump Media and other public companies that had used BF Borgers to find new auditors. CNBC also requested comment from Phoenix-based Semple, Marchal, whose website said the firm in its four decades of operation it has "become a preeminent, and highly respected, certified public accounting firm." Trump Media was not yet publicly traded at the time of the alleged conduct by BF Borgers.
Persons: BF, Semple, Cooper, Donald Trump, BF Borgers, Marchal, Benjamin Borgers, Borgers Organizations: Trump Media, Securities and Exchange Commission, CPA, SEC, Marchal, BF, Company, Trump, CNBC Locations: Phoenix, Lakewood , Colorado
The accounting firm did not respond to a request for comment. Trump Media said in a filing that it “dismissed” BF Borgers as its independent registered public accounting firm on Friday. Firing BF Borgers wasn’t optional for Trump Media or any other public company that used the firm. BF Borgers served as Trump Media’s independent registered accounting firm before the company went public in March. Later in March, Trump Media hired BF Borgers as the public company’s accounting firm.
Persons: Borgers, , ” BF, , Semple, Cooper, BF Borgers Organizations: New, New York CNN, Truth, Trump Media & Technology Group, Trump Media, Securities and Exchange Commission, ” Trump Media, Marchal, BF, SEC, Trump Locations: New York
Trump Media has hired a new accounting firm. Trump Media & Technology Group has now enlisted Phoenix-based Semple, Marchal & Cooper, according to a Securities and Exchange Commission (SEC) filing. Trump Media's previous firm, BF Borgers — as well as its owner Benjamin Borgers — settled fraud charges, the SEC said Friday. A Trump Media spokesperson told Business Insider last week the company planned to hire in a new auditor. Trump Media is the parent company of right-wing Twitter clone Truth Social and is principally owned by Donald Trump, the presumptive GOP nominee for president.
Persons: , Donald Trump's, Semple, Cooper, Trump, BF Borgers, Benjamin Borgers —, Borgers, hadn't, Donald Trump Organizations: Trump Media, SEC, BF, Trump, Service, Trump Media & Technology Group, Phoenix, Marchal, Securities and Exchange Commission
NEW YORK (AP) — Ever-present on the lips of Taylor Swift and the uniforms of both Super Bowl teams. The color red has gone boom as loud as TNT. The phenom that is Taylor Swift at boyfriend Travis Kelce's Kansas City Chiefs games was a red-hued wonder of a lead-up to Super Bowl LVIII. You can wear red accessories to add color to a more neutral look or throw on a red lip or red nail polish. THE RED VS. RED SUPER BOWLThe 49ers have some skin in the red fashion game, too, in running back Christian McCaffrey's fiancee, Olivia Culpo, and in Kristin Juszczyk, fullback Justin Juszczyk's wife.
Persons: Taylor Swift, Trav, Travis Kelce's, We've, we've, Pat McGrath, , Laurie Pressman, Stuart Semple, Erin Jaeger, it’s, Christian McCaffrey's, Olivia Culpo, Kristin Juszczyk, Justin Juszczyk's, Kristin, Jaeger, I’m, Sabato De Sarno, Gucci Rosso, ” Jaeger, Bianca Betancourt, Semple, Anish Kapoor, It's, , Geothe, Michel Pastoureau's Organizations: Super Bowl, TNT, Travis Kelce's Kansas City Chiefs, Media, Chiefs, San Francisco 49ers, Pat McGrath Labs, FOOTBALL AS, North America, 49ers, Swift, Vogue Locations: Taylor, British, North, Paris, Milan, China, India
Why have Republicans and Democrats moved so far apart on immigration? We are publishing this as President Biden comes under extraordinary pressure to curb surging illegal immigration at the southwestern border. Republicans have held up further military aid to Ukraine, demanding more border security in exchange. And this month House Republicans opened impeachment hearings against Alejandro Mayorkas, the homeland security secretary, accusing him of intentionally failing to enforce immigration laws. The last big immigration reform bill passed in 1986, during the Reagan administration, and a smaller bill was signed into law four years later by George H.W.
Persons: Biden, Alejandro Mayorkas, Reagan, George H.W, George H.W . Bush Organizations: Democrats, Republicans Locations: Ukraine, George H.W .
The Opinion Video above is about Yevgeny Prigozhin, the Russian warlord who led a short-lived rebellion in Russia last week. For months, Mr. Prigozhin, who commanded a totally ruthless mercenary force and is himself a product of the Russian kleptocracy, had been an unrestrained critic of the Russian military command, unleashing raw and candid critiques via his Telegram account. For reasons that are still not entirely clear, Russia’s leader, President Vladimir Putin, had allowed Mr. Prigozhin to hammer away at the Kremlin, which is particularly astonishing given how many of the government’s critics have wound up either imprisoned or dead. Here’s a selection of Mr. Prigozhin’s sharpest criticisms of Russia’s military leadership and the nation’s faltering war in Ukraine. The mercenary chief is a thug, and the brutal militia under his command has been accused of committing numerous atrocities.
Persons: Yevgeny Prigozhin, Prigozhin, Vladimir Putin Locations: Russian, Russia, Ukraine
Why, when we think of climate change, do we think of big oil, not big ag; Exxon and not Tyson? It’s time you met the big ag lobby, one of the most powerful influences on policy in America. But when we started digging into the big ag lobby, we discovered it’s basically — “The most powerful lobby on Capitol Hill. So the big ag lobby has one key aim — block environmental regulation. I absolutely envy how good these lobbyists are at their job.” It’s outrageous what the big ag lobby has gotten away with.
Persons: , Peter Lehner, He’s, I’m, It’s, Tyson, Jennifer Jacquet, She’s, Peter, she’s, , Zippy Duvall, “ —, John Boehner, , You’ve, Waxman, Markey, Obama, American Farm Bureau Federation didn’t, ” —, JBS, don’t, they’re, Chuck Schumer, Cory Booker, I’ve, they’ve Organizations: Agriculture, ExxonMobil, Shell, Exxon, Washington , D.C, American Farm Bureau Federation, Capitol, U.S . Farmers, Tyson, New York Times, Republican, Senate’s Agriculture, pharma Locations: America, United States, Lake Erie, U.S, China, Washington ,, Kyoto, Senate’s
We here at Opinion Video are not a bunch of temperance reformers coming to take away your six-packs and single malts. We just think there’s a lot more that American lawmakers could be doing to lessen the harm that alcohol causes. Yet alcohol taxes have remained stubbornly stagnant. Alcohol taxes are typically excise taxes imposed on producers and sellers, who generally pass along those costs to consumers. But excise tax rates are based on a fixed amount per volume of alcohol.
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