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Akin to the boulder that Sisyphus was doomed to forever roll up a mountain in a never-ending loop, the legal troubles of former US President Trump appear to be equally perpetual and aggravating, with debilitating results for the SPAC Digital World.

Fulton County District Attorney General (DA) Fani Willis recently informed the county Sherriff in a letter that Trump's indictment was imminent:

"In the near future, I will announce charging decisions resulting from the investigation my office has been conducting into possible criminal interference in the administration of Georgia's 2020 General Election."

Bear in mind that Willis had initiated a special-purpose grand jury investigation in 2021 to ascertain the facts related to allegations that Trump tried to influence the outcome of the 2020 election results in Georgia. The probe centers on a phone call that involved Trump and his legal team, as well as Georgia's Secretary of State, Brad Raffensperger, and his team. As per the transcript of the phone call released to the media, Trump is purported to have said:

"All I want to do is this. I just want to find 11,780 votes, which is one more than we have because we won the state."

Willis has said that she expects to formally indict Trump on election interference charges between July 11 and September 01.

Of course, Trump is also facing "34 counts of Falsifying Business Records in the First Degree," lobbed by the Manhattan district attorney, Alvin L. Bragg. These charges pertain to the $130,000 in hush money that Trump is alleged to have paid to the adult-film actress Stormy Daniels via his personal attorney Michael Cohen. For his part, Trump continues to deny any knowledge of the transaction, asserting that Cohen was never reimbursed for this voluntary payment.

Meanwhile, as Trump's legal woes continue to mount, his SPAC Digital World is hemorrhaging – quite literally. For the benefit of those who might be unaware, Digital World and the Trump Media and Technology Group (TMTG) are slated to merge in a proposed transaction that would furnish some much-needed cash for Truth Social – a Twitter-like social media app that serves as Trump's echo chamber of sorts. The merger, however, has been complicated by a litany of federal investigations as well as Trump's mounting legal troubles.

Yesterday, the Nasdaq exchange formally served a non-compliance letter to Digital World for failing to submit its "Annual Report on Form 10-K for the period ended December 31, 2022." The SPAC now has 60 days, or until June 20, to submit a plan to regain compliance with the Nasdaq Listing Rule 5250(c)(1). If Nasdaq accepts the SPAC's plan, it can grant a further exemption of up to 180 days to file the requisite report.

Digital World Acquisition $DWAC, which is trying to close a business combination with Trump's Truth Social, had less than a thousand bucks cash at year's end

In contrast, it had more than $17 million of accrued expenses

The deal has been pending for more than 18 months pic.twitter.com/raq6xSOgAw

— Julian Klymochko (@JulianKlymochko) April 26, 2023

So, to bring all of this together, Digital World currently has less than $1,000 in cash and over $17 million in accrued interest liabilities. Of course, the merger with TMTG will unlock over $300 million that is held in trust. However, if Trump keeps getting indicted, the fate of this merger will continue to hang by the proverbial thread.

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The post has been edited to add additional information related to Digital World's finances.