Truth Social’s parent company lost almost $23m (£18.7m) in the first half of this year alone, according to a new securities filing that raises concerns about its “ability to continue”. The filing released on Monday marks the first time any financial details about Donald Trump’s social media platform have been shared publicly, according to The Hollywood Reporter. Truth Social was launched in February last year after Mr Trump was banned from most social networks in the aftermath of the 6 January 2021 Capitol riots. The former US president – who announced his candidacy for the 2024 elections in November last year – has since returned to X (formerly known as Twitter), but says Truth Social is still his primary social media platform and that he won’t post anywhere else until six hours after he sends a “Truth”. Having Mr Trump on board has not translated into revenue for the platform’s parent company Trump Media & Technology Group (TMTG), however. Over the first half of 2023 it has lost $23m while bringing in only $2.3m in net sales, the filing showed. This has raised doubts about the viability of the company and its social media startup, according to the filing. “TMTG’s independent registered public accounting firm has indicated that TMTG’s financial condition raises substantial doubt as to its ability to continue as a going concern,” the company noted in the filing. The company said the “management has substantial doubt that TMTG will have sufficient funds to meet its liabilities as they fall due, including liabilities related to promissory notes previously issued by TMTG”. The remarks were made in its assessment of business till the end of December last year and as of 30 June 2023. Concerns have also been raised over Digital World Acquisition Corporation (DWAC), a Special Purpose Acquisition Company (SPAC), that had some years ago announced plans to merge with TMTG. An SPAC is a shell corporation which raises money by listing itself on a stock exchange with the aim of using the funds for a merger with a different and usually more well-known entity. The filing said DWAC has “until 8 September 2024 to consummate a business combination”. It raised concerns that both TMTG and DWAC may not survive unless this merger is completed. “It is uncertain that Digital World will be able to consummate a business combination by this time. If a business combination is not consummated by this date, there will be a mandatory liquidation and subsequent dissolution of Digital World,” the filing said. “TMTG believes that it may be difficult to raise additional funds through traditional financing sources in the absence of material progress toward completing its merger with Digital World,” the filing further said. “A number of companies that had licence agreements with President Trump have failed. There can be no assurances that TMTG will not also fail,” the filing said. TMTG also cited a number of risks to its business in the new filing, including a dedicated section titled “Risks related to our chairman, president Donald J Trump”. The section lists his ongoing legal hurdles. “TMTG’s success depends in part on the popularity of its brand and the reputation and popularity of its chairman, president Donald J Trump,” the filing said. “The value of TMTG’s brand may diminish if the popularity of President Trump were to suffer. Adverse reactions to publicity relating to President Trump, or the loss of his services, could adversely affect TMTG’s revenues, results of operations and its ability to maintain or generate a consumer base.” Read More Return of original Fortnite map causes record traffic on Virgin Media O2 network Elon Musk unveils new sarcasm-loving AI chatbot for premium X subscribers Elon Musk mocks politicians at AI summit Tesla to offer ‘beast mode’ version of Cybertruck with bulletproof panels X now valued at $19bn – less than half of what Elon Musk paid for it Solar panel world record smashed with ‘miracle material’

Saints coach Dennis Allen says his team's 38-27 victory at Indianapolis should breed confidence and was good to see

Dylan Dreyer took a break from ‘Today 3rd Hour’ after the Fourth of July week and Maria Shriver is filling in for her absence

LONG BEACH, Calif.--(BUSINESS WIRE)--Oct 18, 2023--

Like mushrooms after the rain, small stores are springing up all over Havana, many run from homes or garages as the private sector finally gains...

The first phase of Ukraine's counteroffensive to recapture Russian-occupied territory after more than 16 months of war began weeks ago without fanfare

Vladimir Putin will not attend a summit in South Africa next month – allowing the hosts to avoid a decision whether or not to arrest the Russian leader thanks to an international warrant over war crime allegations. As a signatory to the International Criminal Court (ICC) which issued the warrant, South Africa would be expected to detain Mr Putin once he sets foot in the country. Although it has refused to honour that obligation in the past, allowing safe passage to Sudan’s then-president Omar al-Bashir in 2015, who was facing allegations of war crimes against his own people. The ICC issued an arrest warrant for Mr Putin and Russia’s commissioner for children’s rights Maria Lvova-Belova in March in relation to the forced deportation of children from Ukraine to Russia . The announcement that Mr Putin will stay away from the two-day summit in August comes a day after court documents showed South Africa’s president Cyril Ramaphosa had sought permission from the ICC not to follow through with the arrest, saying it would amount to a “declaration of war”. South Africa’s largest opposition party, Democratic Alliance, had gone to court to try and compel authorities to carry out the arrest if Mr Putin arrived, but Mr Ramaphosa appeared dead set against the move. “South Africa has obvious problems with executing a request to arrest and surrender President Putin,” he said in an affidavit filed in late June but made public on Tuesday. “Russia has made it clear that arresting its sitting president would be a declaration of war. It would be inconsistent with our constitution to risk engaging in war with Russia.” On Wednesday, a statement from South Africa’s presidency said that by “mutual agreement” Russia would be represented by its foreign minister, Sergei Lavrov, at the summit of Brics nations – Brazil, China, India, Russia and South Africa. The Russian state RIA news agency later said, citing the Kremlin, that Mr Putin will take part in the summit via video call. Speaking just before the announcement by South Africa, the Kremlin’s spokesperson, Dmitri Peskov, told reporters that everyone understood – without having it explained to them – what an attempt to infringe on Mr Putin’s rights would mean. But he said that Russia did not tell South Africa that an arrest would mean war. The Kremlin has called the warrant issued against Mr Putin outrageous and legally void, because the country is not a member of the organisation. “No, no such formulations were uttered, no one gave anyone to understand that,” Mr Peskov said. “It is clear to everyone in this world what an attempt to infringe on the rights of the head of the Russian State means. So there is no need to explain anything to anyone here.” South Africa has been trying to deal with the issue of the arrest for months. It sees Russia has an ally, but clearly does not want to inflame tensions with Western nations either. South Africa has consistently abstained from voting at the United Nations to condemn Russia’s aggression, calling instead for dialogue to end the war. Claiming neutrality, the country is also part of efforts by a group of at least six African nations who recently embarked on a peace mission to Kyiv and Moscow to meet with both Mr Putin and Ukrainian president Volodymyr Zelensky. In his court submission, Mr Ramaphosa suggested such efforts might be jeopardised by an attempt to arrest Russia’s president. “An arrest of President Putin would introduce a new complication that would foreclose any peaceful solution,” he said. Reuters and Associated Press contributed to this report Read More The Body in the Woods | An Independent TV Original Documentary The harrowing discovery at centre of The Independent’s new documentary

Today's Google Doodle (12 July) is all about the South Asian street food pani puri. Head to the search engine’s home page and you’ll be greeted by a candy-colored cartoon, celebrating the dish which consists of a light, crisp deep-fried shell stuffed with potatoes, chickpeas, spices and flavoured waters. The interactive design then invites you to fill out hungry customers’ orders: choosing the puris that match their flavour and quantity preferences as quickly as you can. So why did Doodle choose this theme – sweet though it is – for a random Wednesday in July? Sign up for our free Indy100 weekly newsletter Well, on this day back in 2015, in the Indian city of Indore, a restaurant called Indori Zayka and Dainik Bhaskar earned itself the world record for serving the most varieties of the treat. It offered punters a lip-smacking 51flavours, under the guidance of Masterchef Neha Shah, as Google notes in its blurb to the artistic homage. The snack will be familiar to many, but perhaps under a different name. This is because there are a plethora of regional variations that exist across India. In Maharashtra and Andhra Pradesh, the name pani puri denotes the bite-sized street food which is commonly filled with boiled chickpeas, a white pea mixture, and sprouts dipped in tangy and spicy water (pani). In the northern Indian states of Punjab, Jammu and Kashmir, and New Delhi, the potato and chickpea-filled delight is known as gol gappe or gol gappa, and is soaked in lemony-spiced jaljeera water. In West Bengal and parts of Bihar and Jharkhand, they call the treats puchkas or fuchkas, using tamarind pulp as their key ingredient. In a nutshell – or a delicate, fried puri shell, if you’d prefer – these beloved snacks take many iterations but all have one thing in common: they should be eaten quickly to avoid sogginess or leaking. Still, given how tasty they are, it’s hardly a tall order to make sure you devour them in one go. Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.

Baltimore Ravens coach John Harbaugh says safety Marcus Williams could be out a while with a pectoral problem

Craig Counsell is headed to the Windy City. However, there are several teams that could have benefitted from him, and probably should have fired their current managers to clear a spot for him.

Capital punishment could emerge as a major campaign issue in the U.S. presidential race for the first time in 30 years, with top GOP candidates already one-upping each other by touting tougher, more far-reaching death penalty laws

Kosovo’s prime minister is claiming that a criminal gang from northern Serbia with alleged links to the Belgrade government was behind a September attack in Kosovo that killed a police officer and involved a daylong gunbattle with Kosovo police that left three gunmen dead