Subject: Re: Truth Social going public?
"In an appearance on MSNBC, career Trump journalist David Cay Johnson -- who described in excruciating detail the full extent of Trump's life of grifting for all to read well before 2016 -- pointed out some key aspects of the 6-month freeze period after IPO and ways it can be circumvented.

Technically, owners of the SPAC cannot unload shares in the spun-off company DJT for 6 months after the IPO date. But...

Trump can petition the partners to alter the terms of the deal to allow him to sell prior to that date. But..."

If I am not mistaken (and I might be), there are also two other big issues with the merger:

1. There are lawsuits between many of the founders and Trump over bonus shares being given out. All of the parties involved recognize that this is literally a ticking time bomb that is eventually going to blow up, so they all agreed to put the disputed ownership shares in escrow pending the lawsuits so that the merger can go forward and they can start the 6 month clock ticking before they can cash out. So there are still lawsuits about the disputed shares and none of the owners actually know how much of the company they really own.

2. There are also some outstanding warrants that vest immediately after the merger is complete. The owner of those warrants is not public knowledge. Whomever owns those warrants can exercise them and start dumping those shares. It could be Trump, it could be the founders (the Apprentice contestants), it could be some angel investor who wanted to stay secret.

Point is, the stock is already dropping, there will probably already be some selling pressure long before the 6-month waiting period is up. Will Trump and the founders find enough suckers/cultists to keep the stock price afloat long enough for them to dump their shares? This isn't a small growing start up we are talking about. This is a company with a shrinking active user base. It is 100% reliant on one particular user. It is a company with many other competitors that have growing active user bases and plans to grow. It is a company with a terrible balance sheet and terrible prospects. It is a ticking time bomb.

Everyone knows that in 6 months there is going to be huge selling pressure on the stock price. So any stockholder who can sell is going to sell before then. It is going to be like yelling fire in a crowded theater, except is this case there is an actual dumpster fire in the theater. Lots of people are going to get hurt in the stampede to the exits.

It is interesting to see a huge and obvious fleecing of the public take place in real time and there not is a damn thing any regulator can do about it other than hold insiders to their contractual restrictions.