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[-] Ersatz86@lemmy.world 109 points 7 months ago

My smile grew larger with each paragraph.

But I reached near-euphoria with these masterpieces of financial journalism:

The filing also warns shareholders that Trump's involvement in the company could put it at greater risk than other social media companies.

and…

TMTG also disclosed to regulators that the company had identified "material weaknesses in its internal control over financial reporting" when it prepared a previous financial statement for the first three quarters of 2023.

😁

[-] ozoned@lemmy.world 62 points 7 months ago

If anyone checked the filing presentation they literally put questions marks for their profitability. It was HILLARIOUS.

[-] ozoned@lemmy.world 40 points 7 months ago
[-] Witchfire@lemmy.world 52 points 7 months ago* (last edited 7 months ago)

Lmfao. Here's a pic for the super lazy.

Screenshot showing "?B" for truth social

[-] meco03211@lemmy.world 25 points 7 months ago

I strive to be super lazy. I was disappointed after having already clicked the link and wasted an untold number of seconds finding that slide only to scroll down and see it here.

[-] dditty@lemm.ee 4 points 7 months ago* (last edited 7 months ago)

Ha lmao same 🤣

You're doing God's work firewitch/witchfire

[-] ripcord@lemmy.world 3 points 7 months ago
[-] Cavemanfreak@lemm.ee 2 points 7 months ago

at least 15!

Jesud christ! That's almost 41.5k years!

[-] billiam0202@lemmy.world 30 points 7 months ago* (last edited 7 months ago)

Holy goddamn shit, that's not even the funniest part of that! They estimate $3.6 billion in revenue by 2026? What fucking super-adderall-DMT-coke-meth-unicorn-fart drug are they smoking?

[-] EvilBit@lemmy.world 11 points 7 months ago

If they install a dictator and ban all other social media and also ban not participating in social media, then yeah, that’s actually a pretty conservative estimate.

[-] GiuseppeAndTheYeti@midwest.social 4 points 7 months ago

They even mentioned that they estimated 15M monetized users and 10M recurring media subscriptions. So they're estimating $1.2B per year for the next 3 years of those 25M users. That's $48/mo between those 2 types of subscriptions. In the presentation they directly compared themselves to Twitter who charges $11/mo and Netflix, Apple, Disney+, and Amazon who all charge between $4.99 and $8.99 per month for basic service.

That's AT MOST $20/mo if all of those users paid for both. Which they dont even claim. So a competitive price for a Twitter blue alternative would net them ~$180M and ~$100M from media subscriptions. Where in the world are they getting the other $920M in their projections?

[-] btaf45@lemmy.world 3 points 7 months ago* (last edited 7 months ago)

OMG Hahahahaha

[-] sucricdrawkcab@lemmy.world 9 points 7 months ago

No lie told because that is ridiculous

[-] YurkshireLad@lemmy.ca 6 points 7 months ago

“Big Tent Approach - all are welcome”. 🤣

[-] GiuseppeAndTheYeti@midwest.social 2 points 7 months ago

From page 25 of this presentation:

A graphic shows a Trump post on Truth social that reads.

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut pretium pretium tempor. Ut eget imperdiet neque.

Which google translates to:

The customer is very important, the customer will be followed by the customer. In order to pay the price in time. It does not need financing.

[-] billiam0202@lemmy.world 6 points 7 months ago

Lorem ipsum is a pretty common placeholder text in publishing, to give an idea of what a font/page layout would look like.

In other words, they thought it safer to use random placeholder gibberish for their presentation, than use Trump's actual shitposts.

[-] GiuseppeAndTheYeti@midwest.social 3 points 7 months ago

TIL. Thanks for the info. I had no idea that was even a thing til now

[-] Shirasho@lemmings.world 14 points 7 months ago

So they either did not do proper finance analysis or they are hiding numbers from shareholders, neither of which inspire confidence.

[-] baldingpudenda@lemmy.world 26 points 7 months ago

Material weaknesses means they "lost" paperwork, right? I'm guessing as that's his only move.

[-] Ersatz86@lemmy.world 21 points 7 months ago

Dunno, I was actually leaning more towards the “indefensible, blatantly criminal fabrication of ‘facts’ of the sort that crumble under even the most casual gaze” kind of material weakness.

[-] RBWells@lemmy.world 10 points 7 months ago

Material weakness means you failed the audit, and the firm will not state that the financial disclosures can be relied on.

[-] YurkshireLad@lemmy.ca 9 points 7 months ago

Look in his bathroom, I’m sure it’s there somewhere.

[-] qantravon@lemmy.world 5 points 7 months ago

He does apparently have a habit of trying to flush documents.

[-] homesweethomeMrL@lemmy.world 3 points 7 months ago
[-] qantravon@lemmy.world 3 points 7 months ago

First one, then the other.

[-] thisbenzingring 7 points 7 months ago

Material weaknesses

I was looking for its meaning in finance and found this https://www.investopedia.com/terms/m/materialweakness.asp

LOL they are fubar

[-] DarkDarkHouse 4 points 7 months ago

What? No. He’s known to also eat documents.

this post was submitted on 01 Apr 2024
355 points (98.1% liked)

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