this post was submitted on 14 Nov 2023
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$23M of the loss is from the first half of this year. There was a $10M regulatory settlement and another $11M spent on "legal investigations", which covers the bulk of that. I don't have the time nor the inclination to really dig into it, but you can look at the filing here: https://www.sec.gov/ix?doc=/Archives/edgar/data/0001849635/000119312523276045/d408563ds4a.htm
They lost $50M last year. I haven't looked at that filing so I don't have a clue what they spent that on besides $5M on "legal investigations" in the first half.
This company is a total scam. It's basically a slush fund for Trump. What would probably be more of a bombshell than the spending is where the money is coming from. It's all but guaranteed that it's primarily foreign money. Probably also some rich MAGA wackadoos buying influence.