Forbes: Trump Media Technology Group's financial report reveals "major flaws" in internal control

PANews May 10th news, according to Forbes, Trump Media & Technology Group (TMTG) disclosed information in the latest Securities and Exchange Commission filings, showing that the company has "significant flaws" in its internal control of financial reports, raising investors' concerns about the company's financial transparency and governance structure. TMTG is the parent company of social platform Truth Social. It has recently attracted much attention due to financial losses and audit issues. It is reported that the audit agency BF Borgers, the company hired by the company, was accused of "major fraud" by the US SEC for forging audit documents and violating audit standards. In addition, Donald Trump, a director of TMTG, was compensated $813,000 last year, although he attended only two of the company's five meetings, while TMTG reported that its annual sales were only $3.6 million, but had a net loss of $401 million.

Previous news, Trump Media Technology Group, Crypto.com and Yorkville America Digital have finalized the ETF issuance agreement, and the Hong Kong fund is expected to be launched later this year.