Choose to fuq off to your board clown
Trump Media And Technology Group Enters Into Two Key Agreements To Bolster Its Liquidity By $2.5 Billion And Acquire Key Assets For Its Upcoming CDN
Trump Media and Technology Group (DJT), the parent entity of the Truth Social platform, has just entered into key agreements that not only pave the way for the company to substantially boost its liquidity but also acquire prime assets for its upcoming Content Delivery Network (CDN). To wit, Trump Media and Technology Group has entered into an all-equity deal with WorldConnect Technologies, WorldConnect IPTV Solutions, and JedTec to acquire key assets, including the source code, for its upcoming Content Delivery Network (CDN). Back in May, Trump Media had noted that it was done with the research and development phase of its new live TV streaming platform and that it would begin to scale up its own Content Delivery Network (CDN). In the first phase, Trump Media and Technology Group plans to introduce live streaming to the iOS, Android, and web versions of the Truth Social platform. In the second phase, the company intends to launch a dedicated OTT streaming app for smartphones and tablets, and then release a version of the app for smart TVs in the third phase. Trump Media and Technology Group intends to leverage WorldConnect's existing agreements with the Perception Group to rollout CDN technology for the Truth Social platform. To do so, Trump Media will incorporate Perception's intellectual property assets that are already available to WorldConnect and its affiliates. Under the terms of this deal, Trump Media will issue 5.1 million shares as consideration to WorldConnect IPTV Solutions and JedTec. Once the deal is closed, these shares will be subject to selling restrictions, whereby not more than 3 percent of Trump Media's Average Daily Trading Volume (ADTV) can be sold in any consecutive two-week period during the first 6 months following the closing of the deal. Thereafter, not more than 5 percent of the ADTV can be sold in any consecutive two-week period until 12 months after the closing of the deal. Separately, Trump Media and Technology Group has entered into a SEPA with a Cayman Islands exempt limited partnership, Yorkville. Under this agreement, Truth Social's parent entity can sell shares worth $2.5 billion to Yorkville from time to time during the duration of the SEPA. Accordingly, the company has filed a registration statement with the SEC to register 37.644 million shares for resale.
The filing notes: “…. the Company will have the right, but not the obligation, from time to time at its discretion until the first day of the month following the 36-month period after the date of the SEPA, to direct Yorkville to purchase a specified amount of shares (each such sale, an "Advance") by delivering written notice to Yorkville (each, an "Advance Notice")."
The company intends to use these funds for working capital and general corporate purposes. Do note that Trump Media and Technology Group's cumulative cash balance as of the 01st of July had swelled to $350 million.
https://wccftech.com/trump-media-and-technology-group-enters-into-two-key-agreements-to-bolster-its-liquidity-and-acquire-key-assets-for-its-upcoming-cdn/
Trump Media And Technology Group Enters Into Two Key Agreements To Bolster Its Liquidity By $2.5 Billion And Acquire Key Assets For Its Upcoming CDN
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While kneepads was Attorney General for CA it was critical to get the settlement done fairly early as then all the other states would fall in line due to CA’s position in the housing market (all based on inflated values) so she was central to having this overall settlement done.
Monday, March 12, 2012
25 Billion Mortgage Servicing Agreement Filed in Federal Court
The Justice Department, the Department of Housing and Urban Development (HUD) and 49 state attorneys general announced today the filing of their landmark $25 billion agreement with the nation’s five largest mortgage servicers to address mortgage loan servicing and foreclosure abuses.
The federal government and state attorneys general filed in U.S. District Court in the District of Columbia proposed consent judgments with Bank of America Corporation, J.P. Morgan Chase & Co., Wells Fargo & Company, Citigroup Inc. and Ally Financial Inc., to resolve violations of state and federal law.
The unprecedented joint agreement is the largest federal-state civil settlement ever obtained and is the result of extensive investigations by federal agencies, including the Department of Justice, HUD and the HUD Office of the Inspector General (HUD-OIG), and state attorneys general and state banking regulators across the country.
The consent judgments provide the details of the servicers’ financial obligations under the agreement, which include payments to foreclosed borrowers and more than $20 billion in consumer relief; new standards the servicers will be required to implement regarding mortgage loan servicing and foreclosure practices; and the oversight and enforcement authorities of the independent settlement monitor, Joseph A. Smith Jr.
The consent judgments require the servicers to collectively dedicate $20 billion toward various forms of financial relief to homeowners, including: reducing the principal on loans for borrowers who are delinquent or at imminent risk of default and owe more on their mortgages than their homes are worth; refinancing loans for borrowers who are current on their mortgages but who owe more on their mortgage than their homes are worth; forbearance of principal for unemployed borrowers; anti-blight provisions; short sales; transitional assistance; and benefits for service members.
The consent judgments’ consumer relief requirements include varying amounts of partial credit the servicers will receive for every dollar spent on the required relief activities. Because servicers will receive only partial credit for many of the relief activities, the agreement will result in benefits to borrowers in excess of $20 billion. The servicers are required to complete 75 percent of their consumer relief obligations within two years and 100 percent within three years.
In addition to the $20 billion in financial relief for borrowers, the consent judgments require the servicers to pay $5 billion in cash to the federal and state governments. Approximately $1.5 billion of this payment will be used to establish a Borrower Payment Fund to provide cash payments to borrowers whose homes were sold or taken in foreclosure between Jan. 1, 2008, and Dec. 31, 2011, and who meet other criteria.
The court documents filed today also provide detailed new servicing standards that the mortgage servicers will be required to implement. These standards will prevent foreclosure abuses of the past, such as robo-signing, improper documentation and lost paperwork, and create new consumer protections. The new standards provide for strict oversight of foreclosure processing, including third-party vendors, and new requirements to undertake pre-filing reviews of certain documents filed in bankruptcy court. The new servicing standards make foreclosure a last resort by requiring servicers to evaluate homeowners for other loss mitigation options first. Servicers will be restricted from foreclosing while the homeowner is being considered for a loan modification. The new standards also include procedures and timelines for reviewing loan modification applications and give homeowners the right to appeal denials. Servicers will also be required to create a single point of contact for borrowers seeking information about their loans and maintain adequate staff to handle calls.
https://www.justice.gov/opa/pr/25-billion-mortgage-servicing-agreement-filed-federal-court
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Fuq off to your new masturbation chamber and you can habs all the god squad posts you want.
Gaslighting POS