[U: UK Reporting Russian-Tied Investigations] As The Audit Firm Expresses Substantial Doubt About Its Survival, DJT Sues His OWN Founders, In Florida Court. Heh.

This is just so. . . "on brand" -- for these jokers.

A new audit firm just amended the SEC Form 10-K, to say there is substantial doubt about the company surviving as a going concern. And Tangerine himself sues his original founding group, alleging they mismanaged the structuring, and set up. The more likely reality is that this is simply a dumb business model. If Musk's X-itter cannot make a profit with about five thousand times the audience draw -- it may well be that there is no set of ads, that will ever let DJT break even.

Hilarious -- here's the latest:

. . .Donald Trump has sued two co-founders of his newly public Trump Media & Technology Group Corp., claiming they set the company up improperly and shouldn’t get any stock in it.

In the latest legal skirmish over who gets how much of the hot but flailing meme stock, Trump alleges that Andy Litinsky and Wes Moss violated an agreement about the setup and don’t deserve their 8.6% stake, currently valued at $606 million.

The lawsuit, which was filed on March 24 in Florida state court and hasn’t previously been reported, comes after the pair brought their own suit against the former president in Delaware Chancery Court over their promised stake in the social media company. . . .

[Amended SEC Form 10-K:] Substantial Doubt about the Company’s Ability to Continue as a Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 1 to the financial statements, it is uncertain that the Company will consummate a business merger in the allotted time. If a business merger is not consummate [sic] but [sic] the specified date, there will be a mandatory liquidation and subsequent dissolution of the Company. Additionally, the Company has incurred and expects to incur significant cost in pursuit of its acquisition plans. These factors raise a substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. . . .

Update: Overnight, the UK Guardian reports as follows:

. . .Through leaked documents, the Guardian has learned that ES Family Trust operated like a shell company for a Russian-American businessman named Anton Postolnikov, who co-owns Paxum Bank and has been a subject of a years-long joint federal criminal investigation by the FBI and the Department of Homeland Security (DHS) into the Trump Media merger.

The existence of the trust was first reported by the Guardian last year. However, who controlled the account, how the trust was connected to Paxum Bank, and how the money had been funneled through the trust to Trump Media was unknown. . . .

What a. . . clown show. This is a $2/share stock, fairly valued. Nothing remotely close to $50.

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