Forbes: Trump Media Technology Group discloses suspected major internal control flaws in financial report
According to online reports, according to Forbes, Trump Media & Technology Group (TMTG) disclosed information in its latest Securities and Exchange Commission (SEC) filing that the company has "significant flaws" in its internal control of financial reporting, raising investors 'concerns about the company's financial transparency and governance structure. TMTG is the parent company of the social platform Truth Social. It has recently attracted much attention due to financial losses and audit issues. It is reported that the audit firm BF Borgers hired by the company was accused of "significant fraud" by the US SEC for falsifying audit documents and violating audit standards. In addition, Donald Trump Jr., who served as a director of TMTG, received a salary of $813,000 last year, although he only attended two of the company's five meetings, while TMTG reported annual sales of only $3.6 million, but a net loss of $401 million. Previously, Trump Media Technology Group, Crypto.com and Yorkville America Digital have finalized ETF issuance agreements, and these funds are expected to be launched later this year.
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