• MoviePass has less than two months left before it runs out of cash - and its latest changes won't save it

    1 month ago - By Chron

    Hollis Johnson/Business Insider
    MoviePass' parent company, Helios and Matheson, has less than two months of cash left at the rate it was burning through its funds in the second quarter.
    Even if it was able to reduce its burn rate as much as executives have stated, it still would have less than a month's worth of cash.
    When it's run low on funds in the past, Helios and Matheson has repeatedly issued and sold new shares to raise cash.
    But that tactic may be coming to an end; it already increased its share count by more than 9,000% in the last two weeks, and its stock price is inching closer...
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  • MoviePass' parent company increased its share count by an incredible 9,000% in less than two weeks - and just after reverse splitting its stock to combat dilution

    MoviePass' parent company increased its share count by an incredible 9,000% in less than two weeks - and just after reverse splitting its stock to combat dilution

    1 month ago - By Business Insider

    MoviePass's parent company, Helios and Matheson, revealed Tuesday that it has increased its share count by 9,423% in just the last two weeks.
    The massive dilution comes just weeks after the company executed a 250-1 reverse stock split to soak up excess shares and boost its stock price.
    Helios and Matheson has a history of issuing gobs of shares to raise cash to fund its money-losing MoviePass service.
    Shareholders of the parent company of MoviePass just found out their stakes are worth about 1% of what they previously thought - at least in terms of the portion of the company they thought...
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