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I just wanted to share a direct quote from the most recent Reddit thread.
"MoviePass was basically a mechinism to transfer wealth from the stock holders to the consumer. Be glad that we got the long end of the stick on this one."
The Expo on Texas that Mitch is going to next week isn't for average folk it's for larger industry players. I bet he's out looking for some interested parties to pour some more money into it so he can get a recovery on his investment before MP croaks. Their websites are all just empty shells. No real depth or substance to them at all. Sure they look functional with the menu function at the top but in the end it's just your typical template with a few links and they only navigate your position on the page, not even a link to a different page. It just scrolls you down a little bit on the current page. It gets worse by the day for this product. I dislike Ted more, but I hope Mitch gets his share of shame when this all falls down. He is just as responsible for causing the public nusance that was called MoviePass.
I looked the definition of "significant" up to try and get a legal scope of the term. It pretty interesting because it deals with the values of the figures used. Since they have been toughting millions of subscribers significant could perhaps represent a loss of a million or millions based upon previous verbage. There is a significant chance their subs are down to just above 1 million or less. Which would mean my earlier estimated pps is still to high... sigh & shaking my head. What a shame.
Ted gets off on having a crap reputation he actually appreciates his Dr Kavorkian of businesses reputation. If you need a business euthinized just call Theodore Farnsworth Kavorkian. But Mitch obviously puts the NetFlix RedBox part of his resume on top of everything. I would to if I went from being a video rental chain manager to RedBox. And that's the biggest problem now. He is going to place his reputation ahead of the success of Ted's majority owned MP. There is no way he is going to back pedal and disclose the shortcoming of their past fibs and exaggerations that would be necessary to save MP. It's to late to save MP. They stole this, rode it hard, scratched it up, dented it all to hell and drove it into a lake. They have all but abandoned it and have left a big bill for others to pay for. Nobody will recover anything for their expense. Subscribers are getting screwed. Investors are getting screwed. AMC was right, and I hate that. The industry was negatively impacted by a service that could not be sustained. As soon as MP dies, AMC I going to cancel A-list. They have already said as much.
We live in a world where playing word games and perspective can be judged in so many ways. The terms of "join 3 million subscribers" doesn't necessarily mean "current subscribers". I think of it like McDonalds and their over XXX,XXX,XXX,XXX burgers served. Im sure those figures on the website will continue to increase based upon historically served subscribers rather than tenative current subscribers. I was using the figures from the last 10q which ended with September and estimated 2.6M subs. Then Oct Mitch in the Spain article stated 2.1M. so in a months time 500,000 subs lost and that was with the unathorized unsuspended accounts. Given it has been almost 2 months since Mitch's disclosure and adjusting for the unauthorized accounts whom probably did cancel. It could be floating just above 1Milli
In the day and age we are now of Apple choosing to not disclose iPhone sales figures. And with Sinemia never disclosing sub numbers. I doubt MP will ever disclose their sub numbers ever again.
Mitch in Oct said 2.1M and that was after reactivating susspended accounts. I'm guessing that they are holding on to over 1 million and under 2 million. I'm being generous and use 1.8M in my calculations. I still don't understand how they can advertise 3Milli on the HMNY website and 2Milli on the MP website. But the fact that they are different on the two means that neither of those figures is really trustable. And with Mitch Spain interview being back on Oct we know it's less than 2.1
Ok, sorry.
Does anyone here actually have a MP membership, or have had in the past?
Going back to previous interviews. Ted & Mitch were all about increasing movie viewership. Now the last promoted information is all about how MP subscribers are using .70 films a month. And this really is what bothers me the most. The facts are skewed and shifted to suit the perspective of the audience. Nobody is interested in tolerating those who publicly speak out of both sides of their mouth. Back in July/Aug it was all about "look at our monumentally multiplying subscribers we will be cost neutral and profiting by 2019 with 5M subs". Now it's "oh we're loosing all the super users that we're dragging us down". Any given day it's going to be some new spin and some sudden shift of perogative and I'm just supposed to believe it was the plan the whole time and that these guys were ready and waiting. No they werent. There actions earlier this year were of desperation and things have not gotten any easier. Sub count is down or it wouldn't be a secret. I will say it again. Sub count is down or it would not be a secret. The number one value assessment for this company is based off of subscriber numbers,it's industry is the movie subscription service. Any valuation of this company is based solely on sub numbers. Subs are down shares constantly increase. I can assure everyone. This companies shares are over priced. And the methods of disclosure are tarnishing the credentials of it's leadership. Despite the success of Mitch his reputation is diminished. And Ted, well he hasn't surprised anyone and his reputation is on track to continue in the same way it has always been. From what I know and a little bit of assuming due to what I am deliberately prevented from knowing I put today's pps at 0.0111
What's the opposite of BOOM?
MOOB! Everyone get ready for MOOB!
HMNY-$-$ MOOB!
Newztanz call of the week
Monday- Revisit our recent low (0.0131)
Tuesday- HMNY begins the voyage to explore What's at the Center of the Earth. A good chance retails can buy in at par.
Wednesday- Honor our lost President.
Thursday- Push through the other side of the the Earth in the Indian ocean.
Friday- Usual pre-weekend bargain day, Tripsies!
SeekingAlpha probably the most legit of any. They actually have writers that back their articles with facts. And they use a paywall which puts less pressure on click bait advertiser backed incentives.
I used to hate them back when I was a dreamer because they conflicted with my idiology. But I should have listened.
Why wouldn't anyone believe that HMNY will continue to dilute. They state it clearly in their filings.
Share structure will stay the same, but the R/S will reduce your shares then another round of ATM will reduce their value. It two-time Ted's favorite play. It's actually the only play in his play book.
https://www.reddit.com/r/moviepass/new
I check this daily for a good laugh. Never let's me down. Gives a good insight into the life of a MoviePass subscribers experience.
Good point. I wonder how that effects the window of opportunity for HMNY to achieve $1 for ten days before the 18th. Oh wait, LOL! What am I saying? They won't be able to break above .02
HaHa...(infinately repeating)
You have to click and read his bio then it talks about MP.
Did you see that Jeff the Alien is also a featured speaker? I wish he was running MP/HMNY.
All the way down at the bottom is a list of all the cities they are traveling to. Interesting if they are coming to anyone's hometown or close.
Sooooo, it's Dec1st... What was supposed to happen today?
I actually was beginning to think perhaps he was...
May I please come out of the penalty box...
3 deficiencies listed on NASDAQ site for HMNY:
Bid Price: 6/21/2018
Audit Committee Composition: 9/6/2018
Board Independence: 9/6/2018
Nothing about Market Cap, perhaps 22M is adequite.
I believe with the low number of institutional holders the retail shareholders become the equivalent of a human shield in a stand off crisis. No clear shot at the perpetrator without potential harm to the hostage being held in the way. The extension most likely will be granted based upon terms of clear admittion of the only potential method to reconcile the deficiency, R/S. Thus giving the retails time to escape. Especially with the last 10q clearly stating that subs are nearly cost neutral and the reason for expense and losses was primarily due to aquisitions, alleviating concerns of eminent BK within that 180 day time period.
I guess I'm clueless. Maybe I should change my alias.
So what's your thoughts on the companies solution to the NASDAQ deficiencies? PPS has to achieve and then maintain $1 beginning Tuesday or request for extension. Now don't get me wrong I'm a believer they will be granted the extension. But what to you think their proposal to NASDAQ for the solution to rectify deficiencies will be?
Today's volume is below average.
They really could simply just change the name to
MoneyTake
It would solve their problem with the AG and the class actions
It the reputation name that's bringing it down.
MovieScam
It's a old price target from almost a year ago. I think it was based simply off their old high.
Tell that to the folks who owned pre-R/S shares.
I was doing my daily rounds of checking websites and something I noticed today on the moviepassentertainment.com website. The image displayed of the debit card states "card valid only at MoviePass theaters". Is that image updated since it was originally put up? And what do people think the statement means? Before the premise behind the card was that it would be excepted at any theater, now it's limited only to "MoviePass theaters". Sounds ominously negative to me.
HMNY really has me wondering. No proxy filing today for the annual shareholder meeting. Which means no votable options for that meeting. I seriously think these guys are aiming for OTC. For them to have delayed then cancelled the R/S vote means they just don't care either way.
Good job, 3 Wow overachiever. Next question did any of those companies post revenue losses due to operations?
Agreed. My point was that they will R/S.
Name just one.
I guess that's why they say
Fool me once shame on you.
Fool me twice shame on me.
Will you let them do it a third time?
No where near settled. You should check Pacer, like I do daily. Motion to dismiss - vacated. Scheduling conference moved from Nov 26th to Dec 10th. I don't think they made any positive impact with HMNY by filing the motion to dismiss. Can't see much of an agreement between the two now. I'm sure it's not going to be a quick solution to the case.
Let's just take a minute to have a constructive evaluation. De-list is Dec 18th. Which means it has to break $1 for ten days starting no later than Dec 4th. to satisfy NASDAQ required rules. Which would give it a $1.6B MC. haha (lowercase because it's an obsured thought) Folks can judge on their own if they think it can somehow satisfy these criteria.
I'll give you a minute to think it over... Figure it out yet?
Good job, the answer is no.
So moving on. In order to receive the 180 day extension HMNY will have to explain to NASDAQ what their plans are to rectify the deficiency. What do you think their plans are? Again I'll give a little time to think it over...
There are only 2 options:
-Buy back shares
-Reverse Split
If they were going to buy back shares, they would have already.
Which leaves only one option. The latter of the 2.
If I missed anything please feel free to reply.
I have already received my hard knocks degree from HMNY, which is why I'm holding the proud # of shares equal to 9341 shares. Now is not the time to buy into it. Too much negative up and coming. Notice the lack of sass and sarcasm in my tone. It's because I have been humbled. It's time for more of that on this board. I expect the new folks here to understand soon enough.
I think his absence answers your question.
My gosh. It's like watching a highway next to pond. One family of ducks and chicks lines up and tries to cross. Then another set lines up. Anybody know the result of the second attempt?... That's ok, you can learn the hard way.
I welcome the humbling and the future of 20/20 hindsight coming your way. It's proud speak like that which leads to humiliation.