Forbes: Trump Media Technology Group Reveals Financial Reports Suspected of Major Internal Control Deficiencies

According to a report by Golden Finance, Forbes revealed that Trump Media&Technology Group (TMTG) has disclosed in its latest filing with the US Securities and Exchange Commission (SEC) that the company has "significant deficiencies" in its internal controls over financial reporting, raising concerns among investors about the company's financial transparency and governance structure. TMTG is the parent company of the social platform Truth Social, which has recently attracted attention due to financial losses and audit issues. It is reported that the audit firm BF Borgers hired by the company has been charged by the US SEC with "significant fraud" for falsifying audit documents and violating audit standards. In addition, Donald Trump Jr., who served as a director of TMTG, received a salary of $813000 last year. Although he only attended two of the company's five meetings, TMTG announced that its annual sales were only $3.6 million, resulting in a net loss of $401 million. Previously, it was reported that 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.