But also, they are filing to be able to SELL IT ALL. The float is 36.4M and Trump wants to sell his 114.75M shares into that float.
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Trump on Trial - Episode 3 |OT| The One with the Bigliest Assets Ever (UP: $454m + interest + bans)
- Thread starter phisheep
- Start date
Trump Media tumbles 18% after taking the first step towards unlocking early insider stock sales
Trump Media tumbles 18% after taking the first step towards unlocking early insider stock sales
The Truth Social parent company has filed to allow insiders, such as former president Donald Trump, to sell their stake in the company.markets.businessinsider.com
I wonder if it's possible for the stock price to actually drop below a dollar at some point, or does Trump still have enough brand appeal that he can keep it above that line?
How much were the shares at the beginning? I struggle to keep up with finance stuff.
His brand appeal wasn't enough to save any of his other business ventures that have folded over the years, so an unsuccessful social media site's shares dropping below a dollar as everyone races to the exit wouldn't be surprising at all.
We should be getting details of the bond today.
www.newsweek.com
Donald Trump to reveal bond details as Letitia James poised to strike
Trump must file a $175 million bond on Monday to stop the New York attorney general from seizing his assets
www.newsweek.com
We should be getting details of the bond today.
Donald Trump to reveal bond details as Letitia James poised to strike
Trump must file a $175 million bond on Monday to stop the New York attorney general from seizing his assets
Meanwhile, Trump is getting some sleepy-time in his other trial.
Midnight EST, correct. So a hour and a half. Tho Trump's been a troll about filing stuff last minute. Kinda doubt he has a fix for this tho, if this super shady setup was the best he could get from the guy literally called king of bonds(who's probably playing Trump for a payout)
Oh, so you're saying he might actually be sitting in Gendo Ikari pose waiting for 11:59 to file his submission?
As if there isn't a very good chance that the courts will throw Trump yet another life line if they miss the deadline. More than happy to be proven wrong but I've been burned one too many times with this shit.
Filings are in.
View: https://twitter.com/lawofruby/status/1780065081759330530
View: https://twitter.com/lawofruby/status/1780065558404153366
There is a mistake in the second tweet, the date should read April 5, 2024.
View: https://twitter.com/lawofruby/status/1780065081759330530
View: https://twitter.com/lawofruby/status/1780065558404153366
There is a mistake in the second tweet, the date should read April 5, 2024.
So Knight still isn't providing anything, they're just acting as a supposed witness. Not sure how this fixes the issue
I really wonder what "cash equivalents" means there. If he essentially has the cash, why needlessly involve a third party?
I'm an idiot, so this probably doesn't make sense, but would stock be considered a "cash equivalent"? He may not be allowed to sell DJT stock, but who's to say he can't keep it in an account?
I'm an idiot, so this probably doesn't make sense, but would stock be considered a "cash equivalent"? He may not be allowed to sell DJT stock, but who's to say he can't keep it in an account?
Yeah, AG is rejecting this one immediately.
We already knew the collateral was in a "pledged account" that Knight doesn't actually have, and this doesn't prove it's suriety any further.
We already knew the collateral was in a "pledged account" that Knight doesn't actually have, and this doesn't prove it's suriety any further.
This is just doubling down on the "it's not actually a bond, he's paying us to say he has the cash(that he can't give to you or liquidate right now), and he owes us the money too whether he wins or loses appeal".
Don't think this is going fly with the AG or the judge. And if this is the best he can get the appeals court ain't giving him another chance. This is basically fraud(the cornerstone of this whole case).
So it's...a note that says "Trump told us he has the money in a trust, and you're not allowed to lie on a trust, that's why it's called that!"
Especially if Knight only has 138 million in equity as per their financial statement.
This seems like the same kind of bullshit this entire case was about. Can they be charged with fraud or contempt of court as a result? You'd really think this kind of stunt would result in his chance to appeal being rejected. If he attempts this level of fraud and bad faith there's no way for him to get a legit bond anymore anyways
Someone can correct me, but looks like Knight said to NY "we don't need to follow your rules" about having enough equity to cover the bond by saying something about out of state insurers. I believe NY requires no more than 10% of the company's liquidity to be in a bond, and not only is the equity only a tenth of that requirement (and actually doesn't even cover it 1 for 1), BUT their total ASSETS are ALSO half that value (which doesn't matter anyways but fun to point out). This company is nowhere solvent enough to cover this bond.
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Wait, wasn't the bond in the E Jean Carroll case also a Schwab account?
Edit: Yep!
View: https://twitter.com/lawofruby/status/1769903647427575963?t=WstKxJuql95VQhZTCmr9gQ&s=19
Edit: Yep!
View: https://twitter.com/lawofruby/status/1769903647427575963?t=WstKxJuql95VQhZTCmr9gQ&s=19
Inb4 it's the same account… unlikely but would be funny. Really don't think this is gonna fly tho
Weirdly enough, FIC is wrongly attributed instead of Knight in this document. Probably a mistake but hilarious nonetheless
View: https://twitter.com/nycsouthpaw/status/1780074847286047181?t=-Lx5qUkBAcHGCdAabmEtOg&s=19
Whoops! And this is why you gotta proofread after massive cut-and-pastes.
Lord the judge is not gonna be happy.
There's also the fun bit where Knight still isn't qualified to even be acting for the bond in this case(tho technically they aren't kinda). I'm sure we're getting a scathing rebuke tomorrow
Hopefully patience is wearing thin and he's out of strikes
The Trump Media stock seems like a prolonged pump and dump to give him a financial get out of jail free card.
It's seem highly dubious and perhaps illegal? He issued stock on a company that is basically collapsing financially, wherein he owns over 50% of the stock that is issued. Seems like even if the stock drops to 5/share, he still wins? Am I wrong that this seems highly suspect?
It's seem highly dubious and perhaps illegal? He issued stock on a company that is basically collapsing financially, wherein he owns over 50% of the stock that is issued. Seems like even if the stock drops to 5/share, he still wins? Am I wrong that this seems highly suspect?
She will put her fot down and only give Trump 9 days to sort things out! That will show him she means business!
So if I'm understanding this right...it sounds like Trump might be trying to essentially use a second company owned by the same guy he has his E Jean large bond with, in order for both companies to be (at least in part) claiming some of the same non-cash assets as collateral? And obviously that can't really work because if the appeals fail or the assets in the trust bottom out, he'd be stuck trying to give the same thing to two different entities and that obviously doesn't fly, even if it would ultimately be going to the same guy at the top.
I'm really hoping all this fuckery just leads to the bond being denied and thus the appeal auto-failing, leaving him owing the full half-bil. What a cherry on top of him sitting miserably in court this week already.
I'm really hoping all this fuckery just leads to the bond being denied and thus the appeal auto-failing, leaving him owing the full half-bil. What a cherry on top of him sitting miserably in court this week already.
OP
OP
There's a lot we don't know here. There's a lot that nobody knows.
Like whether the collateral account is multiply committed or not, or whether the excess lines insurance allows filing bonds, or how the bond might be collected on should Trump default.
Not going to get drawn into speculating on that, other than to say it looks deeply suspicious that they've filed the statement of account as at 5 April, rather than 1 April when the bond was first filed or 15 April when the justification was filed. It makes no sense.
Like whether the collateral account is multiply committed or not, or whether the excess lines insurance allows filing bonds, or how the bond might be collected on should Trump default.
Not going to get drawn into speculating on that, other than to say it looks deeply suspicious that they've filed the statement of account as at 5 April, rather than 1 April when the bond was first filed or 15 April when the justification was filed. It makes no sense.
I'm starting to think Jim Lahey was Trump's accountant.
Maybe the strategy is to keep filing invalid bonds and requesting extensions to amend them. You only need to be able to keep doing it for around 6 months or so until the election. Let's se if it will work again, especially since this one seems even more egregiously fraudulent than last time. How is this guy incapable to not be committing crimes for like 5 minutes.
That might be a strategy but it's not going to work and he's just accruing interest in the meantime
I sorta do have respect for the dude; he could write a book each month compiled just of his tweets (which often gravitate to fan-fiction) ;P