The MeidasTouch Podcast - Trump Stock is FINALLY CRASHING Because OF THIS…

Episode Date: June 19, 2024

Meidastouch host Ben Meiselas reports on his opinion why Donald Trump’s stock for his Trump media has tanked 39 percent since May 30. Upgrade your sleep with Miracle Made! Go to https://TryMiracle.com/MEIDAS and use the code MEIDAS to claim your FREE 3 PIECE TOWEL SET and SAVE over 40% OFF. Visit https://meidastouch.com for more! Join us on Patreon: https://patreon.com/meidastouch Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcast Legal AF: https://www.meidastouch.com/tag/legal-af The PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcast The Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan Mea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen The Weekend Show: https://www.meidastouch.com/tag/the-weekend-show Burn the Boats: https://www.meidastouch.com/tag/burn-the-boats Majority 54: https://www.meidastouch.com/tag/majority-54 Political Beatdown: https://www.meidastouch.com/tag/political-beatdown Lights On with Jessica Denson: https://www.meidastouch.com/tag/lights-on-with-jessica-denson On Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellman Learn more about your ad choices. Visit megaphone.fm/adchoices

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please contact Connex Ontario at 1-866-531-2600 to speak to an advisor free of charge. BetMGM operates pursuant to an operating agreement with iGaming Ontario. So we've been seeing Donald Trump's stock for Trump media tank day after day. In fact, since Donald Trump was convicted on 34 separate felony counts, his stock has fallen. Trump media stock has fallen by about 39%. 39 percent. And obviously, the company has a massive loss. In the first quarter alone in 2024, it lost approximately $327 million on only about $700,000 or so in revenue. Last year, according to an amended audit, after Donald Trump's prior auditor was suspended by the SEC for running a fraudulent audit mill. The new auditor, however, confirmed that in 2023, Trump media suffered about a $58 million loss. So total year lost 2023, $58 million on about $4 million in revenue. And now in 2024, the first quarter alone,

Trump media lost approximately $327 million. But when you dig deeper into some of the filings by Donald Trump, including an amended S-1 filing that was filed with the SEC, which added more disclosures, more warnings to investors. This is blinking red lights. This is waving red flag after red flag. Some serious issues I want to discuss. Let me preface it with, I don't give stock advice. I'm giving you my opinion. And I had previously, when I practiced law though, worked on a SPAC. And so I have familiar with how the special purpose acquisition companies work, the merger and the process and procedures there too. So Tuesday marked an important date and deadline this past week. It's when certain investors were permitted to sell their shares.

These are not the lockup shares. Trump's shares are still locked up through September 25th. But another class of investors who possessed what are called warrants and who have certain other shares, early investors were permitted for the first time based on a kind of conversion formula to dump their shares into the market. So that's one reason why you may be seeing the price going down further. But I think the glaring red flags here, though, are some of these warnings and disclosures that are being made. Now, as a publicly traded company that has to follow the rules of the SEC, you have to make certain disclosures, and the failure to make disclosures can result in massive litigation.

Even if you make the disclosures, but you engage in misconduct, can result in massive litigation. Even if you make the disclosures, but you engage in misconduct, can result in massive litigation. Some of these disclosures anticipate massive class actions potentially being brought against Trump media. Also, I think one of the most glaring statements from the new warning that I'm looking at right here basically says that there is no remedy that the company has if Donald Trump decides to move to another platform and starts

posting elsewhere. Even though Trump is, I guess, technically bound to post his things first on Truth Social, there's no effective remedy that the company can have to sue Donald Trump to enforce his compliance, which I think is a major red flag because the whole premise of it is that Donald Trump posts first on Trump media. But we saw that Donald Trump started a TikTok account recently, so he's posting there. That, of course, dilutes the impact of his post on Trump media. Of course, his post on Trump media are just totally insane and crazy to begin with. He posts these weird photos of Jesus holding his shoulders, and he posts these weird photos of the preamble of the Constitution giving him hugs and all cap ranting and ravings.

Take a look at these disclosures that are being made right here. We got to dig deep into these filings with the SEC that the retail investors may not be doing, but that smart money is definitely doing right now. So if Trump media disagrees, here's a disclosure. If Trump media disagrees with Donald Trump about the scope of his obligations to use or first post on Truth Social. Trump media lacks any meaningful remedy with respect to such disagreement, which could have a material adverse effect on the business and or operation on Trump media. Again, the whole premise of this thing was sold that this is where Trump posts first. And they're saying here now, I wonder for the first time, basically, I think that Donald Trump doesn't have to do that.

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just reading you what it's saying. Trump Media has a limited operating history, making it difficult to evaluate Trump Media's business and prospects and may increase the risks associated with your investment. Trump Media does not currently and may never collect, monitor, or report certain key operating metrics used by companies in similar industries. That's why these disclosures are unusual. So companies that are in similar industries that collect, monitor, and report certain metrics, Trump media says they're not going to do that. Trump media has suffered negative cash flows and recurring losses from its operations that may raise substantial doubt about its ability

to continue as a going concern. In other words, the red flag here is that we may not be able to exist any longer because we're taking such massive, massive losses. Trump media's estimates of market opportunity and forecasts of market growth may prove to be inaccurate. We may be just telling you false things about the potential growth of Trump media. The next disclosure, Trump media may need additional capital and Trump media cannot be sure that additional financing will be available. Trump media must comply with licenses related to the use of free, publicly available software incorporated in the Truth Social products. Failure to do so could cause the loss of the ability to use such software,

which could in turn adversely affect Trump media's revenues and results of operations. In other words, Trump media didn't create its own code. It basically used code that was available publicly and used that to make truth social. It didn't have engineers engineer new code or proprietary stuff. They basically took the code that already exists out there. For example, they took the code from a platform called Mastodon. Although an entity can use the code for Mastodon according to the licensing agreement, each user of the software must receive an opportunity to receive the entire corresponding source for the website based on that code. or almost entirely being run on code that doesn't belong to it. And if the licensor decides, hey, we're not going to allow you to use it anymore,

that could be the end of it. Many of Trump media's products and services rely on incorporate and or license open source software. We talked about that in the future. Trump media may be involved in numerous class action lawsuits and lawsuits and disputes that are expensive and time consuming, and if resolved adversely, could harm Trump media's business, financial condition, or results of operation. Trump has significant, this is another warning, Trump has significant influence over key decision

making as a result of his control of a significant portion of Trump media's voting stock. It says Trump controls about 64.9% of all of the voting power. As a stockholder, even a controlling stockholder, Trump is entitled to vote his shares in his own interest, which may not always be in the interest of Trump media stockholders generally. In other words, Trump may vote in ways that screw all the other shareholders and help him, and he controls 64% of the company so he can do whatever the heck he wants. Other risks related to Donald Trump, it says, Trump media's success depends in part on the popularity of its brand and reputation

and popularity of Donald Trump. And then it goes to say how, according to a survey published in the New York Post, only 61% of Republicans would use Truth Social platform a lot or some of the time. It goes on to say over here, according to the Hill-Harris poll, only one-third of voters surveyed said that they would use a social media site associated with Donald Trump. So they have to disclose that only one-third of the people want to even use something associated with Trump. Trump is the subject of numerous legal proceedings. They talk about Trump's conviction on May 30th, 2024. Trump was found guilty on all 34 counts.

Sentencing scheduled for July 11th. They talk about the E. Jean Carroll verdict. Remember when I said that I believe that the prior S-1s and these registration statements were defective because I did a whole video on this because it didn't include this data. Well, finally, in the amended registration statements, they included the data that I said the omission of which I believe could make them liable for disclosure violations. It then goes on to say how another publicly traded entity controlled by Trump has previously been the subject of an SEC cease and desist order by the Securities and Exchange Commissions.

On January 16, 2002, the SEC issued a cease and desist order against Trump Hotels and Casinos for violations of the anti-fraud provisions of the Exchange Act. Then it goes on to talk about all of the companies associated, all of these companies that have been associated with Donald Trump have filed for bankruptcy over the years. It goes through all of these. There's like a ton. There's Trump Plaza, Trump Castle, Trump Taj Mahal. Then there's Trump Hotels Casino Resorts. There is THCR. And then it goes into all of his other failing companies, Trump Shuttle, Trump Vodka, Trump Mortgage, Trump Steak, Trump University, Trump Travel. It lists all the failures that he's had in his life going back from when he started in business.

Then it talks about how the shares that are being offered in this specific prospectus represent a substantial percentage of outstanding shares, and such shares or the perception that such sales could occur could cause a significant decline in the trading price of the common stock. And then talk some more about all of the litigation that Trump media is currently embroiled in with prior founders and with the prior founder of the SPAC, the prior co-founders of the company. And there you have it. I could go on and on and on, but those are not typical, in my opinion, not typical disclosures that you see. Now, disclosures in general take place, but these types of disclosures saying that, again, Trump's been convicted, all of the cases he's been involved in, that they rely on open source, that they're not going to report things that other companies typically report, that Trump can screw over

the shareholders and he may act in a way that's not in their interest. So all of that stuff to me, red flag, red flag, red flag. And that's why I think smart money seeing that. And that's why you're seeing the tanking price. But again, this is my opinion. You're entitled to yours, but I've been giving you these warnings from day one when I heard about the SPAC before the merger, before it go in public. I just said it's a matter of when and how many people's lives are going to be destroyed,

in my opinion. Hit subscribe. Let's get to 3 million together. Thanks for watching. Enough! Send it to the big house, not the White House. Get the new exclusive teas mugs and stickers right now at store.MidasTouch.com that's store.MidasTouch.com