Company: DJTWW
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001140361-25-004822
Chunk: 5

Company: Trump Media & Technology Group Corp.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 5
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MTG;

          9

                  •

                  The pre-combination equity holders of Private TMTG have the right to appoint the majority of the directors on TMTG’s Board;

                  •

                  Private TMTG senior management (executives) are the senior management (executives) of TMTG; and

                  •

                  Operations of Private TMTG comprise the ongoing operations of TMTG.

Under the reverse recapitalization model, the Merger is treated as Private TMTG issuing equity for the net assets of Digital World, with no
          goodwill or intangible assets recorded.

As of the Closing, (i) President Donald J. Trump beneficially held approximately 57.6% of the outstanding shares of TMTG common
            stock and (ii) the public stockholders of TMTG held approximately 21.9% of the outstanding shares of TMTG common stock.  As of the date of this Annual Report, Donald J. Trump Revocable Trust
            dated April 7, 2014 (the “Trust”), of which President Donald J. Trump is the sole beneficiary, beneficially owns approximately 52.1% of the voting
              power of the outstanding TMTG common stock, including 36,000,000 Earnout Shares (as defined in the Merger Agreement). President Trump’s entitlement to the Earnout Shares was officially determined by TMTG on April 26, 2024 in accordance with
              the Merger Agreement, after which President Trump was issued the Earnout Shares.

WorldConnect Technologies

On July 3, 2024, TMTG, WorldConnect Technologies, L.L.C. (“WCT”), WorldConnect IPTV Solutions, LLC (“Solutions”) and JedTec, L.L.C. (“JedTec”) entered into an asset acquisition agreement (the “Asset Acquisition Agreement”),
          pursuant to which TMTG agreed to acquire substantially all of the assets of WCT or its affiliate, which mainly included certain agreements, including an option agreement (the “Option Agreement”), dated
          February 5, 2024, by and between WCT, Perception Group, Inc., Perception TVCDN Ltd., and FORA, FOrum RAčunalništva, d.o.o., as amended (each of the parties thereto other than WCT, collectively, “Perception”),

          as well as ancillary agreements related to the source code