4-2-24
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Time to buy back in
SARASOTA, Fla., April 16, 2024 (GLOBE NEWSWIRE) -- Trump Media & Technology Group Corp. (NASDAQJT) (“TMTG” or the “Company”), operator of the social media platform Truth Social, announced today that after six months of testing on its Web and iOS platforms, the Company has finished the research and development phase of its new live TV streaming platform and will begin scaling up its own content delivery network (“CDN”).
TMTG plans to roll out its streaming content in three phases:
- Phase 1: Introduce Truth Social’s CDN for streaming live TV to the Truth Social app for Android, iOS, and Web.
- Phase 2: Release stand-alone Truth Social over-the-top (“OTT”) streaming apps for phones, tablets, and other devices.
- Phase 3: Release Truth Social streaming apps for home TV.
The streaming content is expected to focus on live TV including news networks, religious channels, family-friendly content including films and documentaries; and other content that has been cancelled, is at risk of cancellation, or is being suppressed on other platforms and services.
“We’re excited to move forward with the next big phase for Truth Social,” said TMTG CEO Devin Nunes. “With our streaming content, we aim to provide a permanent home for high-quality news and entertainment that face discrimination by other channels and content delivery services. There is a lot of great content that simply can’t find an audience for unjust reasons, and we want to let these creators know they’ll soon have a guaranteed platform where they won’t be cancelled.”
Much like the Truth Social platform, the Company's CDN is intended to operate efficiently, cost-effectively and independent of Big Tech. The network is designed to be user friendly, incorporating cutting edge technology to optimize speed, performance, and security for video streaming while minimizing interruptions. TMTG’s CDN is expected to greatly enhance and expand Truth Social, an iconic Trump brand whose free-speech mission resonates deeply with its community of users and supporters.
About TMTG
The mission of TMTG is to end Big Tech's assault on free speech by opening up the Internet and giving people their voices back. TMTG operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations.
Cautionary Statement About Forward-Looking Statements
This press release includes forward-looking statements regarding, among other things, the plans, strategies, and prospects, both business and financial, of TMTG. We have based these forward-looking statements on our current expectations and projections about future events, including the future plans and potential success of the streaming services under the CDN. Although we believe that our plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or similar expressions. Forward-looking statements are not guarantees of future performance, and involve risks, uncertainties and assumptions that may cause our actual results to differ materially from the expectations that we describe in our forward-looking statements. There may be events in the future that we are not accurately able to predict, or over which we have no control.
You should not place undue reliance on forward-looking statements. Although we may elect to update forward-looking statements in the future, we disclaim any obligation to do so, even if our assumptions and projections change, except where applicable law may otherwise require us to do so. Forward-looking statements are not guarantees of performance. Readers should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements herein. Important factors that may affect these projections or expectations include, but are not limited to: statements about the ability of TMTG to realize the benefits from the business combination; the ability of TMTG to maintain the listing of TMTG common stock on Nasdaq; ability to realize the benefit of the streaming services, its cost effectiveness, performance, stability, and future financial performance following the business combination; the impact of the outcome of any known or unknown litigation or other legal proceedings; the ability of TMTG to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures of TMTG; the future revenue and effect on gross margins of TMTG; the attraction and retention of qualified directors, officers, employees, and key personnel of TMTG; the ability of TMTG to compete effectively in a competitive industry; the impact of the ongoing legal proceedings in which President Donald J. Trump is involved on TMTG’s corporate reputation and brand; expectations concerning the relationships and actions of TMTG and its affiliates with third parties; the short- and long-term effects of the consummation of the business combination on TMTG’s business relationships, operating results, and business generally; the impact of future regulatory, judicial, and legislative changes in TMTG’s industry; the ability to locate and acquire complementary products or product candidates and integrate those into TMTG’s business; Truth Social, TMTG’s initial product, and its ability to generate users and advertisers; future arrangements with, or investments in, other entities or associations; competition and competitive pressures from other companies in the industries in which TMTG operates; and changes in domestic and global general economic and macro-economic conditions. For a discussion of these important factors and other risks, please read the information set forth under the caption “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. Other sections of the annual report describe additional factors that could adversely affect our business, financial condition, or results of operations. New risk factors emerge from time to time and it is not possible to predict all such risk factors, nor can we assess the impact of all such risk factors on our business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements.
Investor Relations Contact
Shannon Devine (MZ Group | Managing Director - MZ North America)
Email: shannon.devine@mzgroup.us
Media Contact
press@tmtgcorp.com
Exclusive: Truth Social vows to punish short sellers, says streaming service 'moving forward'
The company said it feels "well positioned" at its current stage.
By Madeleine Hubbard and John Solomon
Published: June 16, 2024 10:50pm
Truth Social is confident about its future after going public earlier this year, telling Just the News that its streaming service is moving forward, and that it is actively working to stop people from illegally short selling its stock.
Truth Social, owned by Trump Media & Technology Group, told Just the News in a written question-and-answer statement that its social media platform is a "beachhead that will be supported by streaming."
The company, which is majority-owned by former President Donald Trump, is planning on hosting documentaries, shows and television networks that are at risk of being canceled due to biases within the entertainment industry, the company said.
In addition to the streaming developments, which Truth Social calls a "front-burner issue," the platform says it is "actively exploring" potential mergers and acquisitions to grow its brand.
The platform also said it is "looking both to improve the user experience and to strengthen our position so the platform can't be cancelled."
You can read the full document here:
truth Q&a.pdf
The company said it feels "well positioned" at its current stage, as it has more than $200 million in the bank and more than 600,000 shareholders.
In order to maintain the momentum and prevent illegal short selling of its stocks, Truth Social said it contacted various authorities. If it turns out that people are illegally short selling the stocks, the "perpetrators need to be criminally prosecuted," a spokesperson said.
Ultimately, the company's goal ahead of the 2024 presidential election is to "serve as a one-stop shop" for the public to read the latest news and opinions, the spokesperson also said.
[Note from TMTG: Q&A on following page]
| ● | What effect are you seeing from your efforts to stop naked short selling of your stock? |
| o | We’ve contacted various authorities, and they’re taking a closer look at the issue. We were on the Nasdaq Reg SHO threshold list for months, which indicates unusual trading activity, and the rate of failures to deliver on our stock has been abnormal. If this is what it appears to be—illegal naked short selling—then the perpetrators need to be criminally prosecuted, possibly using federal and state RICO statutes. If there’s illegal trading, then the problem will continue until those responsible are held to account. |
| ● | How are your streaming plans progressing? |
| o | Streaming is moving forward and we’re excited to make this a part of our ecosystem. The way we see it, Truth Social is a social media beachhead that will be supported by streaming. We’re building out our own content delivery network to host documentaries, shows, and even entire networks that are at risk of cancellation or are having problems finding a home due to the biases of the entertainment industry. |
| ● | Now that TMTG is capitalized, are you looking at any potential mergers and acquisitions? |
| o | Yes, that’s an area we’re actively exploring. Since our merger, we have more than $200 million in the bank, so it’s a logical move at this point. We’re looking for firms with growth potential that mesh with our type of business and our brand. There are a surprising number of firms out there that meet these criteria and that would add value to TMTG. We’re looking in the general communications field, at all the ways people communicate and how information transits from one person to another. We’d like to find partnerships to build new brands with a wide range of delivery mechanisms. We also want to ensure we can reach the full patriot economy with the Trump brand— which is one of the all-time iconic American brands—without being held captive by woke corporations. |
| ● | What role do you see Truth Social playing during this year’s presidential election campaign? |
| o | The same role we always play – to serve as a one-stop shop where people can get uncensored news and opinion, and to make their own voices heard, about all the issues of the day. We’re the only platform that has both Donald Trump’s personal account and the Biden Campaign account, so users can get a wide array of views on Truth. |
| ● | What’s next for Truth Social? |
| o | Launching streaming is our front-burner issue. After that, and in fact alongside that, we’re making a range of enhancements to the group’s functions. We’re looking both to improve the user experience and to strengthen our position so the platform can’t be cancelled. We have more than $200 million in the bank and more than 600,000 retail shareholders who believe in our vision, so we feel we’re well positioned at this early stage of our growth. |
Trump Media & Technology Group Corp. Announces SEC Effectiveness of Amended Form S-1
Investors Interested in Exercising Warrants Should Contact Their Broker
June 18, 2024 16:30 ET| Source: Trump Media & Technology GroupFollowShare
SARASOTA, Fla., June 18, 2024 (GLOBE NEWSWIRE) -- Trump Media & Technology Group Corp. (NASDAQ: DJT) (“TMTG” or the “Company”)—operator of the Truth Social platform, yet another of President Donald J. Trump’s iconic American brands—today announced that on June 18, 2024 the Securities and Exchange Commission (“SEC”) has declared effective the Company’s registration statement on Form S-1, related to the resale by certain selling securityholders of certain shares and warrants issued by and issuable from the Company (“Registration Statement,” File No. 333-278678).
The Registration Statement, while effective, allows the covered selling securityholders to publicly resell the securities covered by the Registration Statement, subject to the satisfaction by selling securityholders of the prospectus delivery requirements of the Securities Act of 1933, as amended, in connection with any such resale. In addition, TMTG’s warrants covered by the Registration Statement have now become eligible for cash exercise. If all warrants covered by the Registration Statement are exercised for cash, TMTG may receive up to an aggregate of approximately $247 million in proceeds. Additionally, $40 million of restricted cash on the Company’s balance sheet will become unrestricted as a result of the Registration Statement becoming effective. These funds would supplement the more than $200 million in unrestricted cash the Company now retains.Investors interested in exercising their warrants should contact their registered broker.
“Today marks another milestone for Truth Social,” said TMTG CEO Devin Nunes. “With our S-1 declared effective, we’re expecting to be well positioned to energetically pursue TV streaming, other enhancements to the platform, and potential mergers and acquisitions. With approximately 620,000 retail shareholders supporting our vision, the company looks forward to expanding quickly and robustly.”
As part of the Registration Statement, all registered securities are either held by or underlie securities held by existing security holders of TMTG. TMTG will not receive any proceeds from the sale or resale of securities by the selling security holders pursuant to this Registration Statement, except in connection with any possible future exercise for cash of any outstanding warrants.
The listing of an individual as a “selling securityholder” in the Registration Statement does not mean such individual or entity will sell their shares or is planning to sell their shares. Notwithstanding registration of securities on the Registration Statement, TMTG’s directors and officers, its affiliate President Donald J. Trump, and certain other securityholders will remain subject to a lockup period or otherwise restricted from selling any shares at this time.
The offering of the securities covered by the registration statement may only be made by means of a prospectus. The registration statement and prospectus may be accessed through the U.S. Securities and Exchange Commission's website at www.sec.gov. A copy of the prospectus related to the offering may be obtained from Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 353-0103.
This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About TMTG
The mission of Trump Media & Technology Group (TMTG) is to end Big Tech's assault on free speech by opening up the Internet and giving people their voices back. TMTG operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations.
Investor Relations Contact:
Shannon Devine (MZ Group | Partner - MZ North America)
Email: shannon.devine@mzgroup.us
Media Contact:
press@tmtgcorp.com
Cautionary Statement About Forward-Looking Statements
This press release includes forward-looking statements regarding, among other things, the plans, strategies, and prospects, both business and financial, of TMTG. We have based these forward-looking statements on our current expectations and projections about future events, including the future plans and potential success of the streaming services under the CDN. Although we believe that our plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions, or expectations. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words “believes,” “estimates,” “expects,” “projects,” “forecasts,” “may,” “will,” “should,” “seeks,” “plans,” “scheduled,” “anticipates” or “intends” or similar expressions. Forward-looking statements are not guarantees of future performance, and involve risks, uncertainties and assumptions that may cause our actual results to differ materially from the expectations that we describe in our forward-looking statements. There may be events in the future that we are not accurately able to predict, or over which we have no control.
You should not place undue reliance on forward-looking statements. Although we may elect to update forward-looking statements in the future, we disclaim any obligation to do so, even if our assumptions and projections change, except where applicable law may otherwise require us to do so. Forward-looking statements are not guarantees of performance. Readers should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the cautionary statements herein. Important factors that may affect these projections or expectations include, but are not limited to: statements about the ability of TMTG to realize the benefits from the business combination; the ability of TMTG to maintain the listing of TMTG common stock on Nasdaq; ability to realize the benefit of the streaming services, its cost effectiveness, performance, stability, and future financial performance following the business combination; the impact of the outcome of any known or unknown litigation or other legal proceedings; the ability of TMTG to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures of TMTG; the future revenue and effect on gross margins of TMTG; the attraction and retention of qualified directors, officers, employees, and key personnel of TMTG; the ability of TMTG to compete effectively in a competitive industry; the impact of the ongoing legal proceedings in which President Donald J. Trump is involved on TMTG’s corporate reputation and brand; expectations concerning the relationships and actions of TMTG and its affiliates with third parties; the short- and long-term effects of the consummation of the business combination on TMTG’s business relationships, operating results, and business generally; the impact of future regulatory, judicial, and legislative changes in TMTG’s industry; the ability to locate and acquire complementary products or product candidates and integrate those into TMTG’s business; Truth Social, TMTG’s initial product, and its ability to generate users and advertisers; future arrangements with, or investments in, other entities or associations; competition and competitive pressures from other companies in the industries in which TMTG operates; and changes in domestic and global general economic and macro-economic conditions. For a discussion of these important factors and other risks, please read the information set forth under the caption “Risk Factors” in our registration statement on Form S-1 and other documents filed with the U.S. Securities and Exchange Commission, which describe additional factors that could adversely affect our business, financial condition, or results of operations. The Company’s SEC filings are available publicly on the SEC website at www.sec.gov. New risk factors emerge from time to time and it is not possible to predict all such risk factors, nor can we assess the impact of all such risk factors on our business, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements.
