Company: DJTWW
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001140361-25-028418
Chunk: 199

Company: Trump Media & Technology Group Corp.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 199
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, and is based on unobservable inputs in which there is little or no market data and therefore is classified as a Level 3 fair value measurement.

    Term Loan

    We assumed a loan from our business combination with WorldConnect Technologies, LLC.  As of June 30, 2025, and December 31, 2024, the term loan had a carrying amount of $9,994.0 and $9,616.7, respectively, with $4,968.0 and $4,780.5 of the term loan due within 12 months of June 30, 2025 and December 31, 2024, respectively. For the three and six months ended June 30, 2025, we accreted interest expense of $190.5 and $377.3 related to the term loan.

    The term loan carries an effective interest rate of 7.72% per annum and requires future payments of $5,000.0 in both August 2025 and August 2026, and $500.0 in August 2027.

    Future minimum payments of the long-term debt as of June 30, 2025 is as follows:

            Year Ending December 31:

            2025 (remainder of)

            $
          
           5,000.0 

            2026

           1,005,000.0 

            2027

           500.0 

            Total future minimum payments

           1,010,500.0 

            Less: unamortized original issue discount and debt issuance costs

           (66,205.3 
          
            )

           944,294.7 

            Less: current

           (4,968.0 
          
            )

            $
          
           939,326.7 

NOTE 9 – LEASES

    During the six months ended June 30, 2025, the Company did not enter into additional leases with terms longer than 1 year.  We elected not to recognize ROU assets and lease liabilities arising from short-term leases with initial terms of twelve months or less (deemed immaterial) on the condensed consolidated balance sheets.

      18

When measuring lease liabilities for leases that were classified as operating leases, we discounted lease payments using our estimated incremental borrowing rate.  The weighted average incremental borrowing rate applied was 7.86%.  As of June 30, 2025, our leases had a remaining weighted average term