Donald Trump’s Truth Social website is in trouble….
It’s stock price is down 75%…..
It has lost $6.5 Millionsince January….
And it’s not paying all its bills…
It even has patent problems….
Like a lot of business’s attached to Donald Trump?
It’s probably gonna go in the toilet…..
Trump’s house raid is cratering Trump’s ‘brand’s ‘ worth….
He IS becoming radioactive…..
There are signs that the company’s financial base has begun to erode. The Trump company stopped paying RightForge, a conservative web-hosting service, in March and now owes it more than $1 million, according to Fox Business, which first reported the dispute.
The company also has struggled with some basics of corporate operation. The U.S. Patent and Trademark Office this month deniedits application to trademark “Truth Social,” citing the “likelihood of confusion” to other similarly named companies, including an app, “VERO — True Social,” first released in 2015….
…
RightForge has advertised itself as a pillar of the conservative push to build a parallel internet protected from “Big Tech censorship.” Its chief executive, Martin Avila, declined to comment and said, “We fully stand behind the president and his endeavors.”
But two people familiar with the dispute, who spoke on the condition of anonymity to discuss private details, said the lack of payment had fueled anger that Trump could shortchange a champion of his “free speech” mission.
The Trump company and RightForge have been communicating with each other exclusively through attorneys in recent weeks, the people said. Digital World Acquisition’s stock slid about 7 percent on Friday.
Trump’s businesses have faced many similar payment battles over the years. In past SEC filings, Digital World has also noted that “a number of companies that were associated with [Trump] have filed for bankruptcy” and that “there can be no assurances that [Trump’s media company] will not also become bankrupt.”….
…
In fact, Digital World’s filings have been consistently downbeat on the likelihood that Truth Social will be a success. Trump’s company “may never generate any operating revenues or ever achieve profitable operations,” it said in May, and if it is “unsuccessful in addressing [its] risks, its business will most likely fail.”
In June, Digital World said it had been subpoenaed by a federal grand jury and was facing investigations from both the Justice Department and the SEC that could delay its merger with Trump’s firm. The deal, initially planned for this year, is now indefinitely frozen.
Digital World also has said in filings that Trump’s social network will need millions of people to “regularly use” it for the site to achieve commercial success.
Note…
Donald J. Trump & Co. IS coming apart quietly….
Update Wednesday 31, August, 2022
Chris Anderson
This is what the #TruthSocial office looked like in Sarasota, Fl. on Wed. afternoon. There was no one inside the social media company’s headquarters, no receptionist, no business sign, no sign of CEO Devin Nunes, nothing with Trump’s name anywhere in the building. @HeraldTribune