RELATED PARTY TRANSACTIONS |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| RELATED PARTY TRANSACTIONS [Abstract] | |
| RELATED PARTY TRANSACTIONS | NOTE 9 – RELATED PARTY TRANSACTIONS
Administrative Services Arrangement
An affiliate of Digital World Acquisition Corp.’s (our predecessor prior to our initial business combination, “Digital World”) sponsor, ARC Global Investments II, LLC (the “Sponsor”), agreed, commencing from the date when Digital World’s registration statement relating to its initial business combination was declared effective and continuing through the earlier of Digital World’s consummation of an initial business combination and its liquidation, to make available to Digital World certain general and administrative services, including office space, utilities and administrative services, as Digital World required from time to time. Digital World agreed to pay the affiliate of the Sponsor $15.0 per month for these services. The agreement with the Sponsor was terminated on April 5, 2023, $221.0 was unpaid as of March 31, 2026.
Advances
During 2022, the Sponsor paid, on behalf of Digital World, $470.8 to a vendor for costs incurred by Digital World and $41.0 directly to Digital World. As of March 31, 2026, our obligation to the Sponsor for such payments was outstanding in the amount of $41.0.
M&A Advisory Fee
We entered into an agreement with Yorkville Securities, LLC (“Yorkville Securities”) to serve as M&A Advisor in connection with the pending merger with TAE Technologies, Inc. in December 2025. In exchange for the M&A advisory services provided by Yorkville Securities we agreed to pay Yorkville Securities a fee equal to 6,000,000 shares of our common stock in the event (a) a Transaction is consummated prior to the termination of the Engagement Period or within twelve (12) months following the termination of the Engagement Period or (b) the Company, prior to the termination of the Engagement Period or within twelve (12) months following the termination of the Engagement Period, enters into an agreement with respect to a potential Transaction and such Transaction is subsequently consummated. As of March 31, 2026, an event requiring payment of the fee has not been triggered.
Yorkville America Transactions
Yorkville America, LLC (“Yorkville America”) serves as the Registered Investment Advisor for investment vehicles and financial products that utilize our Truth.Fi and certain Truth Social intellectual property, where we are the primary beneficiary. We paid certain compensation, professional fees, and expense reimbursement totaling $103.9 and $0.0 for the periods ended March 31, 2026 and 2025, to affiliates of Yorkville America related to the management of our VIE. No amounts were payable to affiliates of Yorkville America as of March 31, 2026 and December 31, 2025.
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