Social TRUTH Social by Trump

[idrankyourbeer]

Things are looking up!

not so fast partner

Investors pull almost $140 million from the company planning to merge with Donald Trump's Truth Social

• The deadline for Digital World deal to acquire Donald Trump's Truth Social passed on September 20.
  
  
• Investors are walking away from planned commitments of $140 million, SEC filings show.
  
  
• Reuters reported that Sabby Management investors bowed out, taking away $100 million.
  

Investors are walking away from commitments to invest in a company that planned to merge with Donald Trump's Truth Social platform.

"Blank-check" company Digital World Acquisition said in a Securities and Exchange Commission filing on Friday that some backers were pulling a total of $139 million they had planned to put into the deal. Digital World had previously announced funding commitments of $1 billion.

The investors who signed up for the deal about a year ago were able to back out if it was not completed by September 20.

The investors who walked away were not disclosed in the filings, but Reuters reported that Sabby Management, which planned to put in $100 million, is one that had bowed out.

Sources told the news agency that more investors may also withdraw their commitments now that the deadline has passed and were awaiting more favorable terms to be put to them by Digital World.

The company has struggled to close the Truth Social merger and previously blamed the SEC for delaying the deal amid criminal and civil investigations.

The SEC started examining the deal in June over the possibility that Trump Media and Digital World had held discussions before the special purpose acquisition company (Spac) went public last year without informing the watchdog.

As a result, the directors of Digital World received subpoenas in June from a grand jury in the Southern District of New York.

Digital World has faced difficulty in getting sufficient shareholder approval for the merger and could be forced to liquidate and return investors' cash if the deal is not completed. It said earlier this month it had extended the deadline for completion by three months.

Sabby Management and Trump Media and Technology Group did not immediately respond to Insider's request for comment.

https://www.yahoo.com/news/investors-pull-almost-140-million-125201760.html

 

[Dalarna3]

He should have started an outboard motor and sailed the fuck off into the sunset like Barry. But he's a bully with the heart of a man-child crybaby and he's going to stomp his feet until he gets his way or he's been stopped*. Here's hoping for the latter sooner rather than later.


*with a criminal conviction, to be clear.

Barry? As in Obama?

 

[HARRISON_3]

Barry? As in Obama?

Barry Goldwater, IIRC

 

[44nutman]

not so fast partner

Investors pull almost $140 million from the company planning to merge with Donald Trump's Truth Social

• The deadline for Digital World deal to acquire Donald Trump's Truth Social passed on September 20.
  
  
• Investors are walking away from planned commitments of $140 million, SEC filings show.
  
  
• Reuters reported that Sabby Management investors bowed out, taking away $100 million.

Investors are walking away from commitments to invest in a company that planned to merge with Donald Trump's Truth Social platform.

"Blank-check" company Digital World Acquisition said in a Securities and Exchange Commission filing on Friday that some backers were pulling a total of $139 million they had planned to put into the deal. Digital World had previously announced funding commitments of $1 billion.

The investors who signed up for the deal about a year ago were able to back out if it was not completed by September 20.

The investors who walked away were not disclosed in the filings, but Reuters reported that Sabby Management, which planned to put in $100 million, is one that had bowed out.

Sources told the news agency that more investors may also withdraw their commitments now that the deadline has passed and were awaiting more favorable terms to be put to them by Digital World.

The company has struggled to close the Truth Social merger and previously blamed the SEC for delaying the deal amid criminal and civil investigations.

The SEC started examining the deal in June over the possibility that Trump Media and Digital World had held discussions before the special purpose acquisition company (Spac) went public last year without informing the watchdog.

As a result, the directors of Digital World received subpoenas in June from a grand jury in the Southern District of New York.

Digital World has faced difficulty in getting sufficient shareholder approval for the merger and could be forced to liquidate and return investors' cash if the deal is not completed. It said earlier this month it had extended the deadline for completion by three months.

Sabby Management and Trump Media and Technology Group did not immediately respond to Insider's request for comment.

https://www.yahoo.com/news/investors-pull-almost-140-million-125201760.html

https://www.motherjones.com/politics/2016/06/donald-trump-fine-ftc-sec-stocks
History always repeats itself. Trump fucked over investors with his $DJT stock in the 90's. Got in trouble with the SEC.
I guess when the SEC went after Trump in the 90's it was a witch hunt because they thought a dude that lost a billion in the 90's was going to be President.
Once a con man always a con man.
2002, Donny was fined and the President was Bush, who is a filthy socialist, trans gender loving, baby blood drinking, democrat which goes to shows once again, Trump had to endure another democratic witch hunt, weaponized by a Democratic President. Trump is just a Patriot trying to separate other Patriots from their savings.
This time the issue was whether Trump’s hotel and casino company was trying to hoodwink investors and the public. At the end of the 1990s, Trump’s casinos in Atlantic City were tanking, amassing $150 million in net losses between 1996 and 1998. Yet in the third quarter of 1999, the company declared there was good news: it had “pro forma” earnings of $14 million. This surpassed Wall Street expectations and could be touted as evidence that Trump’s casino empire was not sinking.

Well, that was not the truth. In early 2002, the Securities and Exchange Commission slapped Trump Hotels and Casino Resorts, Inc. with a cease-and-desist order, noting that this earnings report had not been on the up-and-up. It turned out that the earnings statement had included an undisclosed one-time gain of $17.2 million resulting from the termination of a lease, and it excluded an $81.4 million charge due to discontinuing operations at Trump World’s Fair resort.

Trump dismissed the SEC action, saying the 1999 press release declaring the rosy earnings “was just a statement that was too verbose.” Trump did not admit any wrongdoing, but his company did agree to the cease-and-desist order. This time there was no fine.

Two years later, his casino company filed for bankruptcy.

 

[Andy Capp]

The problem is his flock and what they might be incited to do if he’s “stopped”.

All the more reason for it to be sooner rather than later and get it over with.

 

[HOLA]

https://www.motherjones.com/politics/2016/06/donald-trump-fine-ftc-sec-stocks
History always repeats itself. Trump fucked over investors with his $DJT stock in the 90's. Got in trouble with the SEC.
I guess when the SEC went after Trump in the 90's it was a witch hunt because they thought a dude that lost a billion in the 90's was going to be President.
Once a con man always a con man.
2002, Donny was fined and the President was Bush, who is a filthy socialist, trans gender loving, baby blood drinking, democrat which goes to shows once again, Trump had to endure another democratic witch hunt, weaponized by a Democratic President. Trump is just a Patriot trying to separate other Patriots from their savings.
This time the issue was whether Trump’s hotel and casino company was trying to hoodwink investors and the public. At the end of the 1990s, Trump’s casinos in Atlantic City were tanking, amassing $150 million in net losses between 1996 and 1998. Yet in the third quarter of 1999, the company declared there was good news: it had “pro forma” earnings of $14 million. This surpassed Wall Street expectations and could be touted as evidence that Trump’s casino empire was not sinking.

Well, that was not the truth. In early 2002, the Securities and Exchange Commission slapped Trump Hotels and Casino Resorts, Inc. with a cease-and-desist order, noting that this earnings report had not been on the up-and-up. It turned out that the earnings statement had included an undisclosed one-time gain of $17.2 million resulting from the termination of a lease, and it excluded an $81.4 million charge due to discontinuing operations at Trump World’s Fair resort.

Trump dismissed the SEC action, saying the 1999 press release declaring the rosy earnings “was just a statement that was too verbose.” Trump did not admit any wrongdoing, but his company did agree to the cease-and-desist order. This time there was no fine.

Two years later, his casino company filed for bankruptcy.

Yep. He's actually had a publicly traded company before. I posted info about it earlier in this thread.

Trump Hotels and Casino Resorts went public in 95 and lost money every single year. $650 million in total by 2004, when it went bankrupt. $100 invested in 95 was worth $10 by then, for shareholders. Trump, however, took $50 million in fees, salaries, and rent for himself. It reorganized as Trump Entertainment Resorts in 2005. Then lost $2 billion over the next 5 years and went bankrupt again, deregistering the stock. Shares were worthless. Trump still managed to take $2 million from the company over those 5 years, and even got Ivanka on the board, where she made $150,000 annually. Here is a stock chart of Trump Hotels and Casinos Resorts from MarketWatch. Look at all the rubes, even back then pile in, only for it to inevitably sink when reality sets in.

 

[HARRISON_3]

Yep. He's actually had a publicly traded company before. I posted info about it earlier in this thread.

Trump Hotels and Casino Resorts went public in 95 and lost money every single year. $650 million in total by 2004, when it went bankrupt. $100 invested in 95 was worth $10 by then, for shareholders. Trump, however, took $50 million in fees, salaries, and rent for himself. It reorganized as Trump Entertainment Resorts in 2005. Then lost $2 billion over the next 5 years and went bankrupt again, deregistering the stock. Shares were worthless. Trump still managed to take $2 million from the company over those 5 years, and even got Ivanka on the board, where she made $150,000 annually. Here is a stock chart of Trump Hotels and Casinos Resorts from MarketWatch. Look at all the rubes, even back then pile in, only for it to inevitably sink when reality sets in.

It’s like he’s got the opposite of the Midas Touch.

 

[idrankyourbeer]

It’s like he’s got the opposite of the Midas Touch.

but its totally not a grift

 

[44nutman]

(All donations are recurring ad-infinitum every other hour)

Get that donation in baby!

Why anyone would donate to a failed steak salesman is beyond me.
He is the only “successful” business man who constantly begs for money.

 

[Strychnine]

Why anyone would donate to a failed steak salesman is beyond me.
He is the only “successful” business man who constantly begs for money.

It just doesn't make sense.

 

[HOLA]

 

[HOLA]

Here's the whole thread. Just look at these nincompoops lololololololol



I am at $30k lost as well. Lol. And getting banged by a hurricane tomorrow. Life is good!

-$85000 now

I’m losing 35,000 ….

I’m at -17,000. I hate going into my Schwab account for the same reason.

 

[Crawler89]

how hasnt someone done a major phising email attack on the truthers to get some nice bit coin is insane.
could do the same to trumps emails

 

[HOLA]

how hasnt someone done a major phising email attack on the truthers to get some nice bit coin is insane.
could do the same to trumps emails

Why go through the trouble of phishing attacks when you can just send them this and get them to empty their wallets for you?

And here's what he's using the fees on:

Former President Donald Trump spent over $3.8 million on "legal consulting" fees in August, the month the FBI searched his Mar-a-Lago home, according to a campaign finance report for his "Save America" political action committee.

The bulk of the legal payments are going to lawyers representing him in the Mar-a-Lago documents case.

The $3,886,999 in legal consulting costs includes a $3 million check written to the law firm Critton, Luttier & Coleman, LLP on Aug. 30. The firm is based out of Palm Beach, Fla., less than three miles from Trump's Mar-a-Lago club.

https://www.cbsnews.com/news/trumps-pac-spends-over-3-8-million-on-legal-fees-in-august/

 

[Crawler89]

Why go through the trouble of phishing attacks when you can just send them this and get them to empty their wallets for you?

And here's what he's using the fees on:

Former President Donald Trump spent over $3.8 million on "legal consulting" fees in August, the month the FBI searched his Mar-a-Lago home, according to a campaign finance report for his "Save America" political action committee.

The bulk of the legal payments are going to lawyers representing him in the Mar-a-Lago documents case.

The $3,886,999 in legal consulting costs includes a $3 million check written to the law firm Critton, Luttier & Coleman, LLP on Aug. 30. The firm is based out of Palm Beach, Fla., less than three miles from Trump's Mar-a-Lago club.

https://www.cbsnews.com/news/trumps-pac-spends-over-3-8-million-on-legal-fees-in-august/

my point is, its shocking that a third party hasnt spoofed those emails to get money. Itd be so fucking easy and I assume most of those people donating arnt exactly tech savy or running security software

 

[HARRISON_3]

Here's the whole thread. Just look at these nincompoops lololololololol



I am at $30k lost as well. Lol. And getting banged by a hurricane tomorrow. Life is good!

-$85000 now

I’m losing 35,000 ….

I’m at -17,000. I hate going into my Schwab account for the same reason.

Holy shit, those people are delusional.

If you liked the stock WHY would you sell it at a loss? The only way you lose is by selling when you're down.

NOW IS THE TIME TO BUY. BUY. BUY.

Look at this price as a Christmas Bonus. I LOVE THAT it's down. I hope it KEEPS going Lower and Lower.

This is the deal of the century

 

[44nutman]

I went there after the recent shit $DWAC has taken.
They ban anyone who posts negative comments or even legitimate ones like, investors have left or not enough votes to approve buying Truth Social. Now they turned off voting for any comments.
Then they will ironically say they are never selling to protect freedom of speech. It is a cult.

 

[HARRISON_3]

I went there after the recent shit $DWAC has taken.
They ban anyone who posts negative comments or even legitimate ones like, investors have left or not enough votes to approve buying Truth Social. Now they turned off voting for any comments.
Then they will ironically say they are never selling to protect freedom of speech. It is a cult.

Who bans what now?

Either way, lol

 

[HOLA]

 

[Crawler89]

lol good luck with all of that