Thursday, August 02, 2018 10:44:48 AM
1. Ted Farnsworth steps down as CEO or gets fired.
2. MoviePass loses enough subscribers from their fraud-like behavior of continuing to take subs' money but not allowing them to see movies. When enough quits, the expense will go down dramatically. We won't know until we see an official confirmation of how many subs there are now and SEC filings stating "monthly deficits".
The only wildcard is MoviePass Films (the 51% acquisition of Emmett/Oasis), which Ted has NEVER disclosed other than it'll be a combination of cash and stocks. The fact is Emmett/Oasis makes A LOT of money-losing films (i.e. loses single to double digit millions) PER year, and 1-2 good ones that do $50+ million profit every few years. We don't know how much money is being wasted on this project. That's why cancelling this merger would be a bonus to the stock price in my mind.
HMNY has to keep selling millions of shares per day, more and more as the price stock drops, in order to keep funding these money-losing schemes.
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