Company: DJTWW
Filing Date: 2025-02-14
Form Type: 424B3
Source: 0001140361-25-004840
Chunk: 143

Company: Trump Media & Technology Group Corp.
Filing Date: 2025-02-14
Form: 424B3
Chunk 143
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G Convertible Notes were automatically converted into shares of our common stock immediately prior to Closing of the Merger, and pursuant to ASC 815, the derivative liabilities were revalued immediately prior to the conversion of the Private TMTG Convertible Notes on March 25, 2024, when our closing share price was $49.95 per share. The substantial increase in the value of our common stock when combined with the certainty of our execution of the Merger were primarily responsible for the increase in the change in fair value of the derivative liabilities. The increase in the fair value of the derivative liabilities is a non-cash expense and the issuance of Private TMTG common stock upon conversion of the Private TMTG Convertible Notes extinguished the derivative liabilities immediately prior to the Closing. Therefore, there was no derivative liability recorded as of December 31, 2024, and there will no longer be future earnings adjustments pertaining to the Private TMTG Convertible Notes derivative liabilities. 72 Comparison of the years ended December 31, 2023 and 2022. The following table sets forth TMTG’s consolidated statement of operations for the years ended December 31, 2023 and 2022, and the dollar and percentage change between the two periods:

|                                                | (in thousands) |   | For the year ended 
       December 31, 
               2023 |   |     |   | For the year ended 
       December 31, 
               2022 |   |     |     |  Variance, 
          $ |   |     |     | Variance, 
         % |    |
|:-----------------------------------------------|:---------------|:--|-------------------:|:--|:----|:--|-------------------:|:--|:----|:----|-----------:|:--|:----|:----|----------:|:---|
| Revenue                                        |                | $ |            4,131.1 |   |     | $ |            1,470.5 |   |     |     |    2,660.6 |   |     |     |       181 | %  |
| Cost of revenue                                |                |   |              164.9 |   |     |   |               54.5 |   |     |     |      110.4 |   |     |     |       203 | %  |
| Research and development                       |                |   |