Trump Media Auditor Raises Alarm Bells Over 'Its Ability To Continue'
Yeah, I can see where an auditor's note that your company is going to go bust if operating losses continue at the current rate could be cause for concern. Losing $58.2 million while generating revenue of just $4.1 million does not sound like the makings of a sound investment and the market reacted accordingly, with Trump Media losing over 20% of its value on Monday.
Source: NBC News
An auditor has raised doubts about the ability of Donald Trump's publicly traded company to stay in business, according to a new regulatory filing.
Trump Media and Technology Group, which operates the Truth Social platform, reported it lost $58.2 million in 2023 while generating total revenues of $4.1 million, according to the Monday filing with the Securities and Exchange Commission. Trump Media listed its largest expense for the year as interest payments totaling more than $39 million.
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 firm has worked with Trump Media since 2022.