UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-40779 Trump Media & Technology Group Corp. (Exact name of registrant as specified in its charter) Delaware 85-4293042 (State or other ...

~ Completed the Business Combination with Digital World Acquisition Corp., Successfully Debuted as Public Company, and Now Has Over 621,000 Retail Shareholders. ~ ~ Commenced Trading on Nasdaq, Under Symbol DJT on March 26, 2024 ~ Exhibit 99.1 TMTG Reports First Quarter 2024 Results In the first quarter, the Company recorded $311.0 million in non-cash expenses arising from the conversion of promissory notes, and the associated elimination of prior liabilities, immediately before the closing of TMTG's merger ...

A financial executive was convicted Thursday of enabling his boss and others to make over $22 million illegally by trading off his tips ahead of the public announcement that an acquisition firm was taking former President Donald Trump’s media company public.An agitated Bruce Garelick dropped his head and repeatedly wiped his face with his hands after a jury convicted him of all charges in Manhattan federal court.Garelick, who had testified in his defense, was convicted of tipping others in 2021 to news that ...

Business Combination and Corporate Structure - Trump Media & Technology Group Corp. (TMTG) completed its business combination on March 25, 2024, changing its name from Digital World Acquisition Corp. and its stock symbols on Nasdaq to "DJT" and "DJTWW" respectively[11]. - The Business Combination was completed on March 25, 2024, marking a significant milestone for the company[87]. - TMTG entered into indemnification agreements with its directors and executive officers on March 25, 2024, to cover certain expenses and claims[89]. - The merger consideration paid to TMTG securityholders is $875 million[25]. Financial Performance and Risks - The company reported its audited consolidated financial statements for the years ended December 31, 2023, and December 31, 2022, in a Current Report on Form 8-K filed on April 1, 2024[11]. - TMTG's future financial performance is uncertain and subject to numerous risks, including competition and the ability to maintain relationships with customers[14]. - TMTG's management believes that its plans and expectations are reasonable, but actual results may differ materially due to various uncertainties[13]. - TMTG expects to incur operating losses for the foreseeable future as it develops its business model and technology[108]. - TMTG has experienced negative cash flows and recurring losses from operations, raising substantial doubt about its ability to continue as a going concern[148]. - The company relies on loans and securities offerings for financing, and may require substantial additional financing to develop and promote Truth Social[149]. Product Development and User Engagement - TMTG's initial product, Truth Social, aims to generate user engagement and attract advertisers[18]. - Truth Social has achieved approximately 9.0 million signups across iOS, Android, and web platforms since its launch in Q1 2022[33]. - The company aims to enhance its platform by potentially introducing advanced video streaming services and other innovative features[33]. - TMTG's strategy includes competing against major tech companies like Meta and Alphabet to promote free expression[31]. - TMTG aims to grow its Truth Social user base, which is expected to drive unique content and attract more advertisers, with plans for global expansion and user-friendly feature enhancements[40]. - TMTG's success is contingent on attracting and retaining users who contribute valuable content, as user engagement is critical for revenue generation[143]. Competition and Market Position - TMTG anticipates facing significant competition from major social media platforms and will need to differentiate its offerings to attract users and advertisers[49]. - TMTG faces intense competition from larger companies like Meta and Alphabet, which have significantly larger user bases and financial resources[154]. - The company faces competition from other social media platforms, which may hinder its ability to attract users and grow its user base[142]. - The company anticipates ongoing consolidation in the industry, which may heighten competitive challenges and affect its market position[160]. Legal and Regulatory Challenges - The company faces risks related to ongoing legal proceedings involving President Trump, which may impact its corporate reputation[18]. - TMTG is subject to various U.S. and foreign laws regarding privacy and data protection, including the California Consumer Privacy Act, which imposes new operational requirements[71]. - TMTG's business is subject to complex and evolving laws that could result in claims or changes to business practices, potentially harming user growth and engagement[74]. - TMTG's ability to comply with evolving data protection and privacy laws is critical, as non-compliance could materially harm its reputation and financial position[193]. - The company has faced legal challenges, including a $3.8 billion defamation lawsuit against the Washington Post, which could affect its reputation and financial results[177]. Intellectual Property and Data Privacy - TMTG's intellectual property portfolio is a core strength, guiding product development and protecting proprietary technologies[62]. - TMTG has registered the trademark "TRUTH SOCIAL" for use with cups and clothing, but faces challenges with other trademark applications due to alleged similarities[66]. - TMTG's products and services involve the collection, storage, processing, and transmission of a large amount of data, making it a target for cyber-attacks, which could harm its business and reputation[171]. - TMTG's user data privacy concerns may limit its ability to leverage Truth Social user data, with evolving legal obligations potentially impacting its business[174]. Operational Challenges and Future Outlook - TMTG's operating history is limited, having launched Truth Social in the first quarter of 2022, which may increase investment risks[104]. - The company is currently evaluating options regarding apparent bad faith registrations of the Truth Social trademark in the European Union and Sweden[67]. - TMTG's ability to tailor and improve user experience may be adversely affected by restrictions on online tracking technologies, impacting its growth prospects[114]. - TMTG's estimates of market opportunity and growth forecasts may prove to be inaccurate, impacting its financial model and growth potential[151]. - TMTG's ability to maintain gross and operating margins may be challenged by increased marketing and operational expenses as it seeks to expand its operations[42]. Compliance and Reporting Issues - TMTG has faced material weaknesses in its internal control over financial reporting, raising concerns about its financial condition[100]. - TMTG identified material weaknesses in its internal control over financial reporting for the nine months ended September 30, 2023, which may lead to future reporting obligations failures[205]. - Errors related to the classification of income were found in previously issued financial statements for the years ended December 31, 2021, and 2022, necessitating a restatement of those financial statements[205]. - TMTG plans to initiate remediation efforts in 2024, including hiring additional accounting staff and engaging third parties for compliance with accounting requirements[207].

Digital World (DWAC) stock price had a nice run, pushing its total market cap to more than $6 billion. It has jumped by more than 277% from its lowest point in 2023, making it one of the best-performing companies in Wall Street.DWAC will cease from existing this week as the SPAC concludes its merger with Trump Media, the parent company of Truth Social. The new ticker symbol will be DJT, Trump’s acronym. DWAC stock chartWhy DWAC stock jumped Copy link to section Digital World has taken a longer period before ...

Chart for price of shares in Digital World Acquisition Corp. in days leading up to and including shareholder approval of merger with Donald Trump's social media company.Donald Trump on Saturday told his many online followers, "I LOVE TRUTH SOCIAL" — but shareholders in the newly merged company that will own that social media app might not feel so great after a sharp drop in price the day before.The shell company Digital World Acquisition Corp. saw its share price plunge nearly 14% in the hours following sha ...

Donald Trump's social media platform Truth Social is set to go public next week. His 60% stake in the company is valued at over $3 billion. But if he cashes out, it could cause other investors to follow suit, sending the stock tumbling. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go. Email address By clicking ...

ToplineFormer President Donald Trump’s social media company will go public after shareholders in Digital World Acquisition Corp approved a merger Friday, marking Trump’s return to the stock market nearly 30 years after Trump’s resort company went public—and experienced years of bankruptcies before it was eventually delisted from the Nasdaq.Trump's resort and casino company went public in 1995. (Photo by Scott Olson/Getty Images)Getty Images Key FactsTrump Media & Technology Group’s merger with Digital World ...

Digital World (NASDAQ:DWAC) shareholders voted Friday in favor of merging with the Trump Media & Technology Group (TMTG), the parent company of Truth Social. This approval comes more than two years after the deal was first announced. Since October 2021, Digital World has faced an uphill battle as multiple regulatory agencies have investigated it and the deal has faced delays. As a result, the blank-check firm ultimately sought an extension for the merger deadline. But today, at long last, shareholders cast ...

ToplineFormer President Donald Trump is expected to net a $3 billion windfall from his social media company Truth Social’s merger on Friday, providing the former president a massive financial boost as the clock winds down to pay a $464 million bond in his New York civil fraud case, though experts say that windfall might not solve Trump’s problems as he risks having his properties seized.Former President Trump's Seven Springs estate in Mount Kisco, New York.The Washington Post via Getty Images Key FactsTruth ...