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Donald Trump’s Truth Social has lost $23 million this year. Its accountants warn it may not survive.

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When Truth Social launched in 2022, backers of the social network described it a conservative-friendly alternative to Big Tech platforms that would attract advertisers eager to court former President Donald’s Trump’s millions of followers. But a new regulatory filing reveals that Truth Social’s owner, Trump Media & Technology Group, has booked only $2.3 million in sales through June this year, while losing 10 times that amount. 

The disclosure also contains a warning from Trump Media & Technology Group’s accountants, who said they have “substantial doubt about the company’s ability to continue as a going concern.”

The financial details about Trump Media & Technology Group were made public in a Monday filing from Digital World Acquisition Corp. (DWAC), a so-called special-purpose acquisition company, or SPAC, formed to merge with Trump’s business. SPACs allow a company to sell shares to the public more quickly than in a traditional initial public offering, which requires more regulatory steps.

The filing marks “a crucial milestone in our journey towards the potential merger with TMTG,” DWAC CEO Eric Swider said in a statement on Monday.

The cautionary language by Trump Media’s accountants is known as a “going concern” warning, which indicates that an accounting firm believes a company may not have sufficient cash on hand to pay its debts and could default within the next year, according to S&P Global. 

To be sure, the warning reflects only snapshot in time, and it’s possible Trump Media’s pending deal with DWAC could provide the funding that the merged company needs to make good on its obligations and help drive growth. 

Trump, who is chairman of Trump Media and owns a stake in the business, has agreed to post on Truth Social prior to any other competing social media service, the filing noted.

Trump Media didn’t immediately return a request for comment.

Burning through cash

The financial picture that emerges from filing depicts a company that’s facing mounting losses in the face of growing, yet meager, sales. Trump Media reported revenue of $2.3 million for the first six months of 2023, compared with no revenue in the year-earlier period, the filing noted.

With its losses mounting, Trump Media is also burning through cash, ending June with $2.4 million in cash, down from $19 million a year earlier, according to filing. The company reported an operating loss of $23.3 million in 2022, although it recorded a $50.5 million net profit after a change in value tied to its convertible notes.

Trump Media is negotiating its debts with lenders, and the filing includes a warning that its own management has concerns about its ability to pay for the company’s liabilities and to meet its obligations to lenders.

“During the 12 months following the signing of these financial statements, management has substantial doubt that the company will have sufficient funds to meet its liabilities as they fall due, including liabilities related to promissory notes previously issued by the company,” the filing states.



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Congo finally begins mpox vaccinations in a drive to slow outbreaks

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Congolese authorities began vaccination against mpox on Saturday, nearly two months after the disease outbreak that spread from Congo to several African countries and beyond was declared a global emergency by the World Health Organization.

The 265,000 doses donated to Congo by the European Union and the U.S. were rolled out in the eastern city of Goma in North Kivu province, where hospitals and health workers have been overstretched, struggling to contain the new and possibly more infectious strain of mpox.

Congo, with about 30,000 suspected mpox cases and 859 deaths, accounts for more than 80% of all the cases and 99% of all the deaths reported in Africa this year. All of the Central African nation’s 26 provinces have recorded mpox cases. Officials in Congo previously told CBS News that they’ve struggled to diagnose patients and provide basic care in the vast country of 100 million people, where a fragile, under-resourced healthcare system is also burdened by the stigma associated with the virus. 

Although most mpox infections and deaths recorded in Congo are in children under age 15, the doses being administered are only meant for adults and will be given to at-risk populations and front-line workers, Health Minister Roger Kamba said this week.

“Strategies have been put in place by the services in order to vaccinate all targeted personnel,” Muboyayi ChikayaI, the minister’s chief of staff, said as he kicked off the vaccination.

Congo Mpox
A health worker attends to an mpox patient, at a treatment center in Munigi, eastern Congo, Aug. 19, 2024.

Moses Sawasawa / AP


At least 3 million doses of the vaccine approved for use in children are expected from Japan in the coming days, Kamba said. 

Mpox, also known as monkeypox, had been spreading mostly undetected for years in Africa before the disease prompted the 2022 global outbreak that saw wealthy countries quickly respond with vaccines from their stockpiles while Africa received only a few doses despite pleas from its governments.

However, unlike the global outbreak in 2022 that was overwhelmingly focused on gay and bisexual men, mpox in Africa is now being spread via sexual transmission as well as through close contact among children, pregnant women and other vulnerable groups, Dr. Dimie Ogoina, the chair of WHO’s mpox emergency committee, recently told reporters. 

More than 34,000 suspected cases and 866 deaths from the virus have been recorded across 16 countries in Africa this year. That is a 200% increase compared to the same period last year, the Africa Centers for Disease Control and Prevention said. 

A lack of diagnostic materials and basic medicines to treat the virus, which can improve survival rates, have also hampered efforts to contain the outbreak, and access to vaccines remains a challenge.

Congo Mpox
A health worker attends to a mpox patient, at a treatment centre in Munigi, eastern Congo, Monday, Aug. 19, 2024.

Moses Sawasawa / AP


The continent of 1.4 billion people has only secured a commitment for 5.9 million doses of mpox vaccines, expected to be available from October through December, Dr. Jean Kaseya, head of the Africa CDC, told reporters last week. Congo remains a priority, he said.

At the vaccination drive in Goma, Dr Jean Bruno Kibunda, the WHO representative, warned that North Kivu province is at a risk of a major outbreak due to the “promiscuity observed in the camps” for displaced people, as one of the world’s biggest humanitarian crisis caused by armed violence unfolds there.

The news of the vaccination program brought relief to many in Congo, especially in hospitals that had been struggling to manage the outbreak. Doctors with several charities working in the country have told CBS News they’re overstretched and short on supplies, even having to use tents and mattresses on the floor of makeshift isolation wards to treat a constant influx of patients. 

“If everyone could be vaccinated, it would be even better to stop the spread of the disease,” said Dr. Musole Mulambamunva Robert, the medical director of Kavumu Hospital, one of the mpox treatment centers in eastern Congo.

Eastern Congo has been beset by conflict for years, with more than 100 armed groups vying for a foothold in the mineral-rich area near the border with Rwanda. Some have been accused of carrying out mass killings.



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Saturday Sessions: Marcus King performs “Save Me”

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Saturday Sessions: Marcus King performs “Save Me” – CBS News


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Grammy-nominated singer-songwriter Marcus King started playing guitar at eight. As a teen, he formed his own band and started performing. Now, he’s releasing his third critically acclaimed solo album. The personal project focuses on mental health and was produced by the legendary Rick Rubin. From “Mood Swings,” here is Marcus King with “Save Me.”

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New documentary explores the private life of “Superman” icon Christopher Reeve

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Long before comic book characters dominated movie screens, actor Christopher Reeve made the world believes in superheroes with the 1978 classic “Superman.” 

Reeve died in 2004, nearly a decade after an accident re-shaped his life. “Super/Man: The Christopher Reeve Story” is using interviews with family and friends and never-before-seen home videos to explore his real-life heroism. 

Reeve started his career on the stage, studying at the prestigious Juilliard School and living with comedian Robin Williams. The pair had a friendship that was “more like a brotherhood,” said Reeve’s son Matthew. Reeve was in awe of Williams’ energy and versatility, Matthew Reeve said, but audiences quickly clued into Reeve’s own star power when he took on the role of the Man of Steel

Christopher Reeve in 'Superman'
Christopher Reeve as Superman in a scene from “Superman.” 

Warner Bros. Pictures / Getty Images


To his children, though, he “was just dad,” Matthew Reeve said. The documentary explores how Matthew Reeve and his sister Alexandra Reeve Givens grew up watching their dad take the stage as Superman. “Super/Man” also reveals their heartbreak over their parents’ breakup and the joy they found when Reeve re-married. He tied the knot with Dana Reeve in 1992, and the pair welcomed another child, William Reeve, later that year.  

“Dana was sunshine,” Alexandra Reeve Givens recalled. “She just brought joy with her wherever she was and could find it even in the darkest moments.” 

Those dark moments came suddenly, when in 1995, a near-fatal horseback riding accident left Reeve paralyzed from the neck down. The documentary allows viewers to see, for the first time, what went on out of the public’s view. Reeve can be heard talking about how he “ruined (his) life and everybody else’s,” but in a touching moment, old friend Robin Williams is seen visiting him in the hospital.

“Robin showed him ‘Hey, you’re still you,'” Alexandra Reeve Givens said. “‘You still have this foundation of friendship and people around you, who adore you. And you’re going to find those fun moments in life again.'” 

That support from friends and family re-ignited Reeve’s legacy of activism. He made appearances at the Democratic National Convention and the 68th Academy Awards in 1996, about a year after the accident. Matthew Reeve said watching his father address his industry peers at the Oscars was “one of (his) most proud moments.”

“It was just a production for him to get out of bed every morning, let alone get across the country and go out in public for the first time,” Matthew Reeve said. “It was a big deal. It was a big deal to him, but it was also a big deal to the entire disability community. We stayed up in London till like three in the morning to watch that live. It’s a fond memory.”  

Actor Christopher Reeve (L), wife Dana (R) and com
Christopher Reeve (L), wife Dana (R) and comedian-actor Robin Williams (C) pose while at the Governor’s Ball after the 68th Annual Academy Awards 25 March in Los Angeles.

Vince Bucci/AFP via Getty Images


Reeve also went on to launch what would become the Christopher and Dana Reeve Foundation, which is dedicated to advancing research into spiral cord injury and help individuals and families impacted by paralysis. It was his dad’s mission to find a cure, Matthew Reeve said, while his stepmother wanted to focus on improving the lives of paralyzed people and their families. The foundation and Reeve’s platform helped bring unprecedented attention and funding to spinal cord injury research. 

Reeve even kept acting and realized his lifelong dream of directing with the 1997 HBO movie “In the Gloaming.” Reeve died in 2004 from heart failure at 52.

“There is a huge amount of great actors and actresses out there, where their filmography might be amazing and what they achieve on a cultural level might be amazing, but have they actually achieved anything really as a human that moves the needle for our society?” said filmmaker Ian Bonhote, who made the documentary with Peter Ettedgui. “And Chris has done both things.” 

“Super/Man: The Christopher Reeve Story” will open in theaters on Friday, Oct. 11. 



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