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Former President Donald Trump’s social media company says media reports it is in financial trouble are “knowingly false bar talk,” pointing to regulatory filings showing it raised more than $15 million and has enough operating capital until at least next spring.
Trump Media & Technology Group (TMTG) provided Just the News with a defiant statement on Sunday after Just the News inquired about speculative reports in Fox Business and The Washington Post suggesting the parent company behind the Truth Social app was cash-strapped.
Fox Business suggested the Trump company’s finances were in ” significant disarray ,” while the Post said there were “signs that the company’s financial base has begun to erode .”
But TMTG told Just the News it was launching its first advertising on the Truth Social app, which experts expect could generate millions of ad impressions a day, and that the new revenues would augment $15 million in bridge loans raised earlier in the year that was projected in a Securities and Exchange Commission filing to cover the company’s operating through next April.
The company also flexed its muscle a few weeks ago when it helped country music star John Rich launch a new song that instantly soared to #1 on the Apple Music charts
“Truth Social is on strong financial footing, as evidenced by TMTG’s ability to recently raise $15 million in bridge funding,” the company said in its statement. “Any assertion to the contrary is knowingly false bar talk maliciously designed to harm Truth Social investors.
“Moreover, these falsehoods are easily contradicted by both publicly available filings and Truth Social’s latest accomplishments, which include propelling country music star John Rich’s new single to #1 on iTunes for nearly two weeks. As part of TMTG’s revenue plan, Truth Social will soon begin running advertisements on the platform, allowing businesses to interact […]
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We Often Feel Like David Taking on Giants
Today’s Goliath is the Mainstream Media Industrial Complex that brainwashes the masses.
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