Company: DJTWW
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001140361-25-040977
Chunk: 66

Company: Trump Media & Technology Group Corp.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 66
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 related assets to serve as collateral in order to meet our Loan-to-Collateral Ratio.  As of September 30, 2025, we have $26,838.8 of restricted cash, $455,000.0 of trading securities, and $487,311.5 of bitcoin serving as collateral.

    Portions of the collateral will be released when the outstanding aggregate principal balance of all Notes is at $500,000.0 or less, and an additional portion will be released when the outstanding aggregate principal of all Notes is $250,000.0 or less. Collateral will be automatically released upon payment in full of the principal, together with accrued and unpaid interest on the Notes. We are also subject to other customary covenants under the terms of the Indenture.

    For the three and nine months ended September 30, 2025, we accreted $11,344.8 and $15,259.5, respectively, of interest expense on the Notes.  The effective interest rate of the Notes is 4.80% per annum. The estimated fair value of the Notes as of September 30, 2025 was $1,013,040.6, 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 September 30, 2025, and December 31, 2024, the term loan had a carrying amount of $5,123.6 and $9,616.7, respectively, with $4,689.4 and $4,780.5 of the term loan due within 12 months of September 30, 2025 and December 31, 2024, respectively. For the three months ended September 30, 2025 and 2024, we accreted interest expense of $97.6 and $120.2, respectively, and for the nine months ended September 30, 2025 and 2024, accreted interest expense of $506.8 and $120.2, respectively, 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 August 2026 and $500.0 in August 2027.

    Future minimum payments of the long-term debt