Company: DJTWW
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001140361-25-028418
Chunk: 235

Company: Trump Media & Technology Group Corp.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part I, Item 8
Chunk 235
---
 account for our bitcoin as indefinite-lived intangible assets. Although we will initially record our bitcoin purchases at cost, any subsequent increases or decreases in fair value are recognized as incurred in the consolidated
          statements of operations, and the fair value of our bitcoin is reflected within the consolidated balance sheets each reporting period-end. As of June 30, 2025, we did not hold any bitcoin. Bitcoin is a highly volatile asset that has traded below
          $50,000 per bitcoin and above $120,000 per bitcoin in our principal market in the 12 months preceding the date of this Quarterly Report. A significant decrease in the price of bitcoin would have a material adverse effect on our earnings.

            Item 4.
            
              Controls and Procedures

      Disclosure controls and procedures are controls and other procedures designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded,
        processed, summarized and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed
        in our reports filed or submitted under the Exchange Act is accumulated and communicated to management, TMTG’s Chief Executive Officer, and Chief Financial Officer (the “Certifying Officers”), to allow timely decisions regarding required
        disclosure.

        43

      Under the supervision and with the participation of TMTG’s management, including its Certifying Officers, TMTG carried out an evaluation of the effectiveness of the design and operation of its
        disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act as of the end of the period covered by this Quarterly Report. Based on this evaluation as of June 30, 2025, the Certifying Officers concluded that
        our disclosure controls and procedures were not effective as of that date, due to the material weakness in our internal controls over financial reporting, including our failure to design and maintain formal accounting policies, processes, and
        controls to analyze, and account for complex transactions as well as a need for additional accounting personnel who have the requisite experience in SEC reporting regulation.

      A “material weakness” is a deficiency, or a combination of deficiencies, in internal control over financial reporting such that there is a reasonable possibility that a material misstatement of an
        entity’s financial statements will not be prevented or detected on a timely basis. TMTG’s management determined that the material weakness primarily related