On May 10, Trump Media & Technology Group admitted in a document released on Thursday that its financial control system has "significant flaws" and lacks qualified personnel and policies to handle its own accounting work, increasing the risk of financial data being erroneous and undiscovered. The company reported a net loss of $31.7 million for the quarter ended March 31, but still held $759 million in cash, cash equivalents and short-term investments at the end of the quarter. Companies have begun to address this issue by bringing in new accountants who understand reporting rules. At the same time, Trump Media launched a financial technology brand called Truth.Fi in the same quarter and signed partnerships with Crypto.com and Yorkville America Digital to jointly develop related products such as exchange-traded funds. CEO Devin Nunes said the company's goal is to become a larger enterprise that owns and operates multiple types of products and services, not just its Truth Social app.