Under Musk’s inspired leadership Twitter has a “heavy debt load” and lost half of its advertisers who do not want to be associated with a toxic product.

Musk said that this has resulted in the app having a “negative cash flow.”

“We’re still negative cash flow, due to a 50 per cent drop in advertising revenue plus heavy debt load. Need to reach positive cash flow before we have the luxury of anything else,” Mr. Musk wrote on Twitter over the weekend.

He didn’t elaborate.

The 50 per cent loss of advertising figure has confused Wall Street as he has previously claimed that Twitter was on track to post $3 billion in revenue in 2023, down from $5.1 billion in 2021.

In April, he told a BBC reporter that the company was breaking even, saying that some advertisers had returned.

This was news to some advertisers who made it clear that they were fed up with their adverts appearing next to poorly moderated content.

Musk claims that Twitter has been a victim because it did not toe a political line. Although it is unclear now that problem extends to “not paying your bills” which seems to have gotten Twitter into more hot water.

NBCUniversal executive Linda Yaccarino has taken over as Twitter’s CEO and has told investors that Twitter plans to focus on video, creator, and commerce partnerships and is in early talks with political and entertainment figures, payments services, and news and media publishers.

Twitter stated on July 13 that select content creators will be eligible to receive a part of the ad revenue the company earns to draw more content creators to the site.

But the company stated that the number of daily active users was down by 20 per cent last week from July 8, noting that the time spent per user was down by 50 per cent, to 10 minutes from 20 minutes in that same period.