Share this @internewscast.com

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.

The note is dated March 25, the day before Trump’s company started trading on the Nasdaq stock exchange under the symbol DJT, surging at first and earning comparisons to so-called meme stocks.

Shares of the company fell more than 20% Monday. Its market value stood at more than $6 billion.

A spokesperson for Trump Media did not immediately respond to a request for comment.

In the filing, the company acknowledged that it expects to operate at a loss for the “foreseeable future” as it works to expand Truth Social’s user base and attract more advertisers. It said it would be “premature” to predict when it will attain profitability and positive cash flows from its operations. It said it would need bridge funding of between $5 million and $60 million.

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.

Trump Media went public last week and gave the former president a paper net worth of around $7 billion. However, Trump is barred from selling the shares he owns in the company for six months. Even before the latest losses were revealed, analysts said the value of the company would plummet if Trump were to sell his shares.

“If he goes ahead [with selling], it could sink DJT by at least 15% to 40% based on option pricing,” said Ben Emons, senior portfolio manager and head of fixed income at NewEdge Wealth, in a research note.

Analysts also expect trading in the stock to be volatile while the legal and political fortunes of the former president shift as he seeks a new term in the White House. John Rekenthaler, vice president for research at Morningstar financial services group, likened the company’s stock to a cryptocurrency.

“As with bitcoin, people buy Trump Media not for future cash flows but because: 1) they expect its price to rise, and 2) they feel an affiliation for the asset,” Rekenthaler wrote. “Bitcoin owners are members of a club. So, too, are Trump Media investors, to an even greater degree. For them, DJT shares represent a currency by which they can express their beliefs and commitment.”

Share this @internewscast.com
You May Also Like
Remains found in Syria do not include those of Austin Tice, family says

Family States Remains Found in Syria Do Not Belong to Austin Tice

The family of journalist and U.S. Marine Corps veteran Austin Tice, missing…
Pedro Pascal returns to 'The Last of Us' Season 2 after death

Pedro Pascal Set to Reprise Role in ‘The Last of Us’ Season 2

It wasn’t the last of Joel.  Pedro Pascal returns to “The Last…
Rite Aid customer deadline for returns, rewards 'approaching fast' amid bankruptcy

Deadline for Rite Aid Returns and Rewards Fast Approaching Amid Bankruptcy

(WHTM) — Pennsylvania Attorney General Dave Sunday is alerting Rite Aid customers…
Pope Leo XIV, Villanova grad, introduces himself adorned in symbolism, proverbial religious devotion

Photo Journey: The Historic Ascension from Chicago Priest to Pope Leo XIV

<!–> –> Published May 12, 2025 4:07pm EDT Image 1 of 25…
Fire and smoke from kamikaze drone attack in Odesa.

Putin Launches Drone Attack on Ukraine After Zelensky Challenges Him and Plans Meeting

VLADIMIR Putin has unleashed a barrage of 100 drones of Ukraine as…
Big Lots set to open more stores this week: See the full list of locations

Big Lots Expanding with New Store Openings This Week: Check Out All the Locations

Variety Wholesaler continues the revival of Big Lots with another wave of…
Westside apartment shooting leaves three people injured

Three Injured in Shooting at Westside Apartment

Police said the victims were walking through the complex when several unknown…
Trump administration fires top copyright official days after firing Librarian of Congress

Trump Administration Dismisses Chief Copyright Officer Following Librarian of Congress Firing

WASHINGTON (AP) — Shira Perlmutter, the leading copyright official in the U.S.,…
'This Is What I Voted For': Trump Executive Order Fulfills Big Promise on Care for Vets vs. Illegals

Breaking: Trump Unveils Major Executive Order Aiming to Reform Big Pharma in the US

                            On Sunday evening at 6:22 p.m. ET, he made a surprising…
Exploding birds plague Richmond, California neighborhood as residents plead for Pacific Gas and Electric Company to help

Richmond, California Neighborhood Troubled by Birds Exploding on Power Lines; Locals Urge Pacific Gas and Electric for Assistance

RICHMOND, Calif. — A troubling enigma has emerged in Richmond, California, where…
How Does a Car Trade In Work?

Understanding the Car Trade-In Process: A Step-by-Step Guide

(iSeeCars) – As you embark on the journey of purchasing a new…
Sad: Elderly Florida Man Is That State's First Victim of a Lethal Bear Attack

Tragic: Florida Suffers Its First Fatal Bear Attack Involving Elderly Resident

Bears can pose a threat. Although most typically steer clear of humans,…