Stiffed vendors, huge financial losses, and a trademark denial

[Guno צְבִי]

Truth Social faces an uncertain future amid concerns over Trump's dwindling popularity and continued controversies


Truth Social is accused of stiffing a vendor out of more than $1 million in contractually obligated payments.

The future of the former president's 10-month-old social media platform, Truth Social, is on uncertain ground as the app faces huge financial losses and is accused of shorting its vendors amid Donald Trump's continued legal controversies.

A planned merger between the Trump Media & Technology Group (TMTG), the business that created the Truth Social platform, and the special purpose acquisition company (SPAC) Digital World Acquisition Corp, has been postponed indefinitely as the Securities and Exchange Commission investigates the platform's business dealings.


https://www.msn.com/en-us/money/com...A11aEBl?cvid=78d65fdcf31447ad9f9d1540844f1d60

 

[Lionfish]

Truth Social faces an uncertain future amid concerns over Trump's dwindling popularity and continued controversies


Truth Social is accused of stiffing a vendor out of more than $1 million in contractually obligated payments.

The future of the former president's 10-month-old social media platform, Truth Social, is on uncertain ground as the app faces huge financial losses and is accused of shorting its vendors amid Donald Trump's continued legal controversies.

A planned merger between the Trump Media & Technology Group (TMTG), the business that created the Truth Social platform, and the special purpose acquisition company (SPAC) Digital World Acquisition Corp, has been postponed indefinitely as the Securities and Exchange Commission investigates the platform's business dealings.


https://www.msn.com/en-us/money/com...A11aEBl?cvid=78d65fdcf31447ad9f9d1540844f1d60

Guano, you should cancel your subscription.

 

[Guno צְבִי]

This week, Truth Social was dealt another blow as its trademark application was denied on Thursday for being too similar to another social app called "Vero — True Social."

Further illuminating the social platform's financial woes, Fox Business News reported on Thursday that Truth Social is locked in a bitter battle with its vendor, RightForge, and is accused of stiffing the hosting service out of $1.6 million in contractually obligated payments.

Three people with direct knowledge of the matter told Fox Business News that Truth Social made just three payments to RightForge for its web hosting services and stopped making payments in March.