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yes farnsworth needs to cut his bullshit
https://www.benzinga.com/news/18/04/11529693/helios-and-matheson-chair-ted-farnsworth-tells-benzinga-375m-line-of-credit-ment
He is known for misleading statements if you actually have been following the stock. Before he said they had a 375M line of credit, but that was just leftover funds from the shelf offering that they could dilute and sell more shares.
sorry but I will not trust him that it's anything else without seeing proof, it's foolish to trust him with no proof, but if you want to be a fool, I'm not stopping you.
what have I lied about?
moviepass is a debit card, you can't spend money you don't have with a debit card.
i'm sure mitch/ted have tried making deals with amazon or netflix, that's a no brainer. Netflix is probably just not interested and might see theaters as competition.
who is going to buy their diluted stock though at this point? they would have to value the new stock at $.25 for any investor to even consider it. Also who is going to lend them money?
ok they have no debt, but they don't have anyone willing to give them money either.
ok, by bankrupt I mean HMNY stock price = $0 and shutting down the service.
They really don't have much time left to either make a deal with theaters/studios or get a big investment/loan.
so if i'm thinking logically that means i'm an obvious short? lol I have 10K shares.
Did you even read any of what I said? I clearly explained my reasoning. They obviously want to say they have a ton of subs, and I clearly explained that they have to make a deal ASAP or get funding otherwise those free subs are going to kill them. It's a last ditch hail mary no matter how you look at it.
Having 4 millions subs means nothing when you're about to go bankrupt and no one will give them money.
for everyone asking what the news was, at 1:56pm they announced on twitter the refer a friend and your friend gets a free month. The stock went up at 2:14pm so it's definitely in reference to that.
Some people can see this as a sign they're not going bankrupt, however this just seems like a desperate move to me. This is a last ditch effort to get as many subs as they can to make last minute deals or get funding. Those "free" subs won't be getting their cards for a few weeks but once they do it's going to be even bigger loses. For moviepass's sake they better hope they have more funding or deals before then.
that's such a shit plan, no one would pay $9.99 a month for that.
they probably were spending all that money because they thought they could dilute more and raise more money. They didn't think the stock would be trading at $.60, now they're screwed.
all those subscriber numbers are great, but it means nothing if they can't get funding. And they sure as hell aren't getting any more funding by diluting their stock to pennies. Only way now is to get a big investor or company to believe in their model and lend them money.
eaglize posts are always good for a big laugh
verizon got 1 million in cash, that's all they needed, the stock thrown in was just an added bonus, I doubt they care about the stock or did that much research besides it being better than nothing. It's not like they had any other offers.
AMC wants moviepass to fail. They would rather have their own service or no service at all than give moviepass money.
Sorry but I don't believe anything moviepass says, they're fast and loose with their facts.
The access to 300 million is probably just the fact that they are allowed to dilute their stock more if they want to raise funds.
Moviepass has no debt
80% see 1-2 movies a month not per day lol
how about don't show your moviepass card until they tell you what the price of the ticket is?
what are you rolling your eyes at? No one wanted moviefone, i'm sure verizon would have taken $50 for it, moviepass got played.
they didn't buy 10%, they were given it for basically free. Was anyone else trying to buy moviefone? I don't think so.
if the way you see it is you'll be a millionaire from this stock you need glasses.
because they released a report that said they have only 15 million in cash left, which will last them another month at most. They will either have to dilute the stock again or get someone to give them a loan before the end of the month.
how much of that is debt is from buying 2 movies though? Those are not recurring costs and are actually recurring revenue.
AMC says they have data back to august from the price drop. So if you went back then then stopped going they would know that, but they don't know if you cancelled or just stopped going or went to another theater.
welcome to 5 days ago
AMC CEO on quarterly conference call:
they never changed the moviepass model. They had a "limited time deal" of 4 movies a month 2 weeks before avengers to stop the losses that a billion dollar franchise is going to cause, and it saved them a ton of money. Once most people already saw avengers they ended the limited time deal. It was always advertised as a limited plan and that unlimited would be back. Nothing changed.
Why would HMNY run? They brought back unlimited on May 2nd, 5 days ago, that's old news.
everyone uses amazon cloud.. so that means now amazon will buy everything?
the problem with this stock right now is they're going to dilute again. Every time short interest goes up it's right before a dilution, and my short lending interest rate for HMNY just went from 20% to $37% interest rate. I'm tempted to buy more but I just fear another dilution any day now.
students on college campuses are the exact opposite of what moviepass wants. They don't want people with tons of time on their hand that will go to 10 movies a month. They want families and people with jobs that can only go a few times a month.
i think moviepass tightening plans by removing duplicate movies is a good sign for the future. It means less abuse and it means they be bleeding less money. They get no leverage when someone goes and sees avengers 10 times, that means nothing to disney, but if they see 10 indie movies that's big pull with those studios.
i don't think shorts are covering yet. Lending rate on my shares went up from 14% to 26% today.
That is exactly what I said. I did not say HMNY the company is diluted. I said that HMNY's ownership in moviepass will be diluted to 51%. If moviepass does an IPO they would be diluted and the 90% or whatever percent that HMNY has in moviepass will go down to 51%.
The author is long, but he lowered his stake by a lot.
After all of the dilutions that HMNY has been doing and then the dilution to 51% of moviepass, even if moviepass was a billion dollar company the stock price of HMNY would still be under $5.
https://seekingalpha.com/instablog/3398131-ben-rabizadeh/5143780-politics-proxy-raising-prospects-moviepass-ipo
this article says moviepass board probably won't let HMNY do a merger and they want to do an IPO instead. Says Mitch has a private investor that is not HMNY, so HMNY probably isn't going to get the remaining moviepass percentage. Moviepass is waiting for HMNY dilution clause to expire in august before doing the IPO. If moviepass does an IPO HMNY could be diluted to 51% or less of moviepass.
Seems like investing in a proxy investment is not a good idea, we have just been used as a funding source and will be diluted in the IPO.
it's up $.05 after hours. Big "spike". The spike happens because no one trades this stock after hours. Such low volume.
they have no where close to 5 million subs. 3 million at most
i haven't read about that, why does farns get paid on dilution?