Hollis 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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