Updated on 09.24.2023, Late night: So Tangerine posted his Fulton County booking photo on X, tonight (that’s the “artist” f/k/a… Twitter). No MSM is saying it yet… but he may already know that the DWAC shareholders (see below) prefer to get a partial refund of their money, and let “Truth” just die off. [He previously said he’d NOT return to Twitter, citing contractual obligations to DWAC/Truth.]
I think it’s clear DWAC management doesn’t have the votes to keep kicking the can down the alley, in the vain hopes that all four separate felony indictments fall apart (i.e., not likely!).
And so, investors may well see the money in DWAC as “dead” (non performing), and want to redeploy what is left… to functioning, cash flow and EPS generating businesses. End update.
Could NOT happen to a nicer guy. [The holdco is called “DWAC”.]
His vaunted plans for a public offering have hit a two year series of self-inflicted delays, led to investigations of “front running” by his team (that’s a particularly insidious form of insider trading), and lately, rampant executive defections, after wildly missed equity raise targets…
And a network that is still about 1/100,000 the reach of Twitter (now X).
So it is… that his vehicle for “truth” faces a mandatory liquidation, and pro rata return of what’s left in the pot, to all the original round investors — on September 8, 2023 (via his SEC disclosures):
“…EVERY VOTE IS NEEDED BY SEPTEMBER 5, 2023 TO PREVENT LIQUIDATION ON SEPTEMBER 8, 2023!…”
That’s his own presser, tonight.
His world is collapsing in on itself — of its own corrupt weight.
Out. Smoke that, John and Bits….
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