MoviePass has less than two months left before it runs out of cash — and its latest changes won’t save it (HMNY)

MoviePassHollis Johnson/Business Insider

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  • 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 and closer to $ 0.

Enjoy your MoviePass subscription while you’ve got it. You may not be able to use it two months from now.

Helios and Matheson, the parent company of MoviePass, has less than two month’s worth of cash left, the company revealed Tuesday in its quarterly report.

See the rest of the story at Business Insider

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See Also:

SEE ALSO: The owner of MoviePass keeps repeating the same move to raise the cash it needs to stay alive — and it’s getting absurd

SEE ALSO: MoviePass’ parent company has flooded its investors with a 3,000% increase in new shares — this chart shows how devastating it’s been to the stock price

SEE ALSO: MoviePass may be in bigger trouble than people realize

Post Author: martin

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Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of BriefNews.eu and PCHealthBoost.info Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

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