“going public” with Trump Social. FYI, and tell me more.

I've done a few hours of reading, and what the pundits tell
me don't explain all of what I wonder about Trump Social
and the money.

As I understand the details, the company effectively
created 120 million shares of stock, with 60% to Trump,
10% to miscellaneous others, and (maybe) 30% sold to
the public at about $50 per share. The price went up a
fair amount from there, for a while, but I don't know if the
company got those higher prices. At the peak, the
'capitalized value' of the company, price times shares,
was almost $8 billion.

Unless the directors 'waive' the requirement, Trump cannot
sell his shares ('cash in') for at least 6 months. As rip-off
prevention, that makes sense. Since Trump and his
partners are suing each other, maybe the 6 months will hold.

Now, 36 million shares at $50 means to me that the
company has $1.8 billion newly in hand, which almost
nobody mentions. One (1) article mentioned upgrades
that they hope to make to the service. The only asset
I've heard mentioned is Trump as main poster. This means
to me that the company DOES have some value, at least
until it pisses it away. That total cash, divided by the
whole total of shares, implies a minimum cash-out value
of $15 per share.

The company reports earning $4 million last year, with
$60 million in expenses. One report (which I don't trust)
mentioned that $40 million of expenses were for 'interest' –
which implies, to me, that somewhere, some-why, there
could be half a billion of debt. - That could take the share
price down, and this evening I DID hear a pundit say (with
no explanation) that there was a basement price of $10;
maybe that is what he referred to.

What has a social media company spent so much money
on? I read they are renting cloud space, so there is not
a capital investment in computers. There are 40 employees
(so I read) and several executives, which could account
for $5 or $10 million.

Can they already be paying Trump huge fees for 'providing
content'? Could they have paid him huge bonuses without
listing them as executive compensation in their report
filed for 2023?

Don't be shy about offering contrary information if you have
it. This is the result of a few hours of research so there's a
lot more to be known.

--
Rich Ulrich