[9 / 1 / 5]
Quoted By: >>1227120
https://www.forbes.com/sites/zacheverson/2023/10/17/trumps-spac-now-says-its-2021-financial-statements-should-no-longer-be-relied-upon/?sh=63178f74521b
The company planning to merge with Trump Media & Technology Group, owner of the Truth Social platform, has now walked away from two years of financial statements after informing the Securities and Exchange Commission on Monday that its audited financials for 2021 “should no longer be relied upon.”
In May, Digital World Acquisition Corp issued a similar notice to the SEC regarding its financial statements for the year ending Dec. 31, 2022.
The retractions began after Digital World’s management, audit committee and advisors concluded that an error mandated reissuing the company’s audited financial statements. Digital World’s filings don’t identify the mistake, but say it is indicative of “a material weakness” in the company’s “internal control over financial reporting,” and that “the company’s disclosure controls and procedures were not effective.”
Digital World plans to reissue the financial statements and also share a plan to address the issues. It did not provide a time frame.
Digital World registered with the SEC in May 2021 as a publicly traded special-purpose acquisition company. In October 2021, it announced plans to merge with former President Donald Trump’s Trump Media & Technology Group.
https://www.sec.gov/Archives/edgar/data/1849635/000119312523256989/d473914d8k.htm
The company planning to merge with Trump Media & Technology Group, owner of the Truth Social platform, has now walked away from two years of financial statements after informing the Securities and Exchange Commission on Monday that its audited financials for 2021 “should no longer be relied upon.”
In May, Digital World Acquisition Corp issued a similar notice to the SEC regarding its financial statements for the year ending Dec. 31, 2022.
The retractions began after Digital World’s management, audit committee and advisors concluded that an error mandated reissuing the company’s audited financial statements. Digital World’s filings don’t identify the mistake, but say it is indicative of “a material weakness” in the company’s “internal control over financial reporting,” and that “the company’s disclosure controls and procedures were not effective.”
Digital World plans to reissue the financial statements and also share a plan to address the issues. It did not provide a time frame.
Digital World registered with the SEC in May 2021 as a publicly traded special-purpose acquisition company. In October 2021, it announced plans to merge with former President Donald Trump’s Trump Media & Technology Group.
https://www.sec.gov/Archives/edgar/data/1849635/000119312523256989/d473914d8k.htm
