🚨 Trump Media lost 465x more money than it generated in revenue last quarter. The company made just $871,000 in revenue but reported a $405 million loss. Yet its total assets exploded from $759 million to $2.1 billion in one year. More than 90% of that loss is just paper loss, $368.7 million of it is Bitcoin and other assets that dropped in value on paper during Q1. No money left the business. The moment those assets recover in value, that loss disappears from the books entirely. The actual operating business generated $17.9 million in real cash flow. Fourth consecutive quarter in the green. Assets nearly tripled in 12 months. Truth Social made only $871,000 in revenue. That number is real and tiny for a Nasdaq listed company. But Trump Media has not been a social media company for a while now. It is sitting on $2.1 billion in assets, cash flow positive, and currently merging with a nuclear fusion company. The $405 million loss is the headline. The $2.1 billion balance sheet is the actual story.