2/1/2024 0 Comments Helios and matheson analyticsThe new business model for MoviePass comes in the wake of a cash crisis for Helios and Matheson and the cratering of its share price.Įarlier this year, the company disclosed in an SEC filing that it was burning through as much as US$20mln in cash per month on average. And annual subscribers will not be forced to adopt the new plan until their contracts are renewed. Monthly subscribers, who can still cancel anytime, will have the chance to take part in the new plan when they renew their membership. In a bid to shore up its ailing fortunes, Helios and Matheson recently introduced a new business plan that allows subscribers in the popular MoviePass program to see up to three movies per month for US$9.95 and also receive a US$5 discount for any movie tickets beyond the first three. Read: MoviePass owner's shares jump after unveiling new business plan The first stock split set a temporary fire under Helios and Matheson’s shares, pushing them up above US$22, but the stock has been plunging ever since. Farnsworth was CEO of Helios and Matheson Analytics, which acquired MoviePass in. Last July, in its initial attempt to push up its flagging share price, the company orchestrated a reverse stock split, which gave investors 1 share for every 250 owned. The SEC on Monday filed a complaint against Ted Farnsworth, Mitch Lowe and Khalid Itum in New York federal court. In response to the revelation, shares dipped 29.4% to US$0.015 in Monday’s afternoon trading session. According to a report by Business Insider, HMIT. Read: MoviePass parent Helios and Matheson shares plummet after revealing service outage due to cash problems Helios and Matheson Analytics was born out of an acquisition by an Indian company called Helios and Matheson Information Technology (HMIT). The struggling company’s board will propose a reverse stock split in a ratio of up to 1 share for 500 shares at a shareholders’ meeting on October 18, according to the statement provided to the Securities and Exchange Commission. IG International Limited receives services from other members of the IG Group including IG Markets Limited.Shares of Helios and Matheson Analytics Inc ( NASDAQ:HMNY) took another nosedive after MoviePass’s beleaguered parent revealed plans for a second reverse stock split in a regulatory filing. IG International Limited is part of the IG Group and its ultimate parent company is IG Group Holdings Plc. The information on this site is not directed at residents of the United States and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. (HMNY) is a provider of information technology services and solutions, offering a range of technology platforms focusing on big data, artificial intelligence. While that may sound like it signals the complete end of. It operates through the following segments. Helios and Matheson Analytics, the theater subscription service’s parent company, has at last filed for bankruptcy, according to The Wrap. The information in this site does not contain (and should not be construed as containing) investment advice or an investment recommendation, or an offer of or solicitation for transaction in any financial instrument. engages in the provision of information technology services and solutions. IG International Limited is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority. You should consider whether you understand how this product works, and whether you can afford to take the high risk of losing your money.ĬFD Accounts provided by IG International Limited. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail client accounts lose money when trading CFDs, with this investment provider. The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate.
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