![]() ![]() It had another $25.4 million on deposit at its merchant bank, which processes payments on its behalf.īy contrast, the company burned through more than $219 million in the first six months of the year - $150.8 million of that in the second quarter. "These factors raise substantial doubt about the company's ability to continue as a going concern."Īs of Friday, Helios and Matheson had just $26 million in cash on hand. "Without additional funding, the company will not have sufficient funds to meet its obligations within one year" from Tuesday, the company said in its quarterly report. The company did not immediately respond to a request for further comment. The company cautioned investors in the report that its cash was running low, and it reissued a "going concern" warning. It could run out of cash much sooner than that if it has overstated the degree to which new restrictions on the service - including a new three-movies-a-month limitation - will reduce the rate at which it burns through cash. ![]() Helios and Matheson Analytics, the parent company of MoviePass, has less than three months' worth of cash left, the company revealed Tuesday in its quarterly report.Īnd that may be overstating things. You may not be able to use it three months from now. When it's run low on funds in the past, Helios and Matheson has repeatedly issued and sold new shares to raise cash.īut that tactic may be coming to an end it already increased its share count by more than 9,000% in the past two weeks, and its stock price is inching closer and closer to $0.Įnjoy your MoviePass subscription while you've got it. MoviePass' parent company, Helios and Matheson Analytics, has less than three months of cash left at the rate it was burning through its funds in the second quarter.Įven reducing its burn rate by the amount executives have predicted wouldn't do much to stem the flow. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |