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No, they decided to try to kill mp and discounted their revenue source to do that and offer that service their stock price ended up paying that cost. Movie pass , with no overhead could open a sustainable model. , With the promotional power from studios to drive people to see their movies over other ones. This is a bargain at 100milluon for it's promotional power alone with service in operation . The theaters cannot and will not survive operating their own sub service . The profit margin on popcorn is not that high. The theater chains list but and kill mpviepass before they can end their rofot sucking own sub service .
Wrong , the model did the theater chains in , they took the bait and installed the program in effort to spite movie pass , thats like gas stations giving pay one low price for unlimited gas to spite Tesla, guess what tesla will exist without the gas company - Moviepass may return and even if not the theaters can only do two things , buy moviepas and kill it while they cancel their programs, or risk movie pass returning , and stay in business while their profit margin dives and stock prices pass their all time lows. Netflix , amazon etc dont want to buy these chains , they arent everywhere in the US , Only Moviepass gives them access to all theaters. not saying that is going to be the opetion , but just the theory behind it. none the less - the sharks are showing up in the movie pass waters . watch for a sharp upturn soon. March is 6 months after teds resignation when he can legally take on the company if the SRC determined his bid to be the highest. I am thinking 10 cents for 100million bid from his group of investors. its flat out what the movie portfolio is worth let alone the rest of the company .
AMC another new low . They better get together with other movie chains to buy out MP before they get put put of business by their own subscription service. MP Model can succeed but the chains need mo to pay full pricem not them selling their seats for nothing. They need to end their subs and kill off mp forever. The mp phantom of the theater is there . Buy it out before it returns and finishes the theater chain off .
Ted can't bid for 6 months passed his resignation date. The bids will take place then . March 2020.
Exactly what is false ? Each part of what is stated is substantiated as HMNY assets.
Because it comes with several movie rights for streaming , movie data for movie goers of nearly 3 million viewers, the patent for subscription and power to control and funnel viewers to it's movies, movie done , and hmny data analytics company backbone . For like pennies to these companies
Dormant MOviepass is like Dormant Herpes - It could come back and Ted is out there allegedly trying to bring it back , Its in the best interest of the theatrers who are now losing money because of it , Perhaps even together to come up and buy it and kill it. OR Maybe Netflix or AMazon to come through and buy it to fortify their push into theaters and give added value to their customers to purchase. Moviepass , while sitting on a shelf has many options to come back to life - Ubless they just go to BK . Lots of upside potential here and thats why I'm still (very) long,
Dormant MOviepass is like Dormant Herpes - It could come back and Ted is out there allegedly trying to bring it back , Its in the best interest of the theatrers who are now losing money because of it , Perhaps even together to come up and buy it and kill it. OR Maybe Netflix or AMazon to come through and buy it to fortify their push into theaters and give added value to their customers to purchase. Moviepass , while sitting on a shelf has many options to come back to life - Ubless they just go to BK . Lots of upside potential here and thats why I'm still (very) long,
No, MOVIEPASS forced AMC into subscriptions, if AMC doesn't buy out moviepass and bring it behind the shed to kill it, they'll go out of business as they aren't taking in ticket revenue anymore. No, popcorn sales isn't gonna save them. Stock hit lowest price ever. I'd they want to survive they have to kill off MP by buying it
MoviePass Parent CEO Bids to Buy Shuttered Service, Take it Private
by SHARON WAXMAN and TREY WILLIAMS | September 17, 2019 @ 4:00 AM
Ted Farnsworth resigned the top post of Helios and Matheson Analytics in order to bid for MoviePass
MoviePass may not be done just yet.
The CEO of Helios and Matheson Analytics Inc, parent company of the now-suspended theatrical movie subscription service, resigned on Monday and submitted a bid to buy the company and take it private, he told TheWrap.
“I put in an official offer to buy all the assets of Helios and Matheson, which is the owner of MoviePass, MoviePass Films and Moviefone,” Ted Farnsworth told TheWrap. “We’re looking to expedite and be one of the bidders out there. I believe in the brand.”
He may need a lot more than belief. After bleeding tens of millions of dollars and tens of thousands of subscribers, MoviePass shut down on Friday, citing an inability to raise additional capital.
Also Read: MoviePass to Shutdown Indefinitely on Sept. 14
The problems had been multiplying for months and many observers predicted the demise of a service whose business model seemed untenable: charging $14.95 or less per month to see multiple movies at the theater, when a single ticket costs nearly that much.
Beyond that there were technical issues, systematic problems of fraud and stiff competition from rivals like AMC Theatres, which has boasted having surpassed 750,000 subscribers to its own rewards program allowing multiple movie screenings for a monthly fee.
“Absolutely the brand is damaged, yes,” Farnsworth said. “But do I think it’s destroyed? Absolutely not. You’ll have to repair the brand — and you have to refinance the whole thing. Grow it at a slower pace. Build it as you go alone.”
MoviePass CEO Mitch Lowe did not respond to a request for comment about the new bid.
The struggles for MoviePass began in August 2017, the same month the too-good-to-be-true subscription service slashed prices from as much as $50 per month to $10. Critics almost immediately disparaged the company’s new business model, in which MoviePass tried to ramp up the number of subscribers while still paying full ticket prices to theaters.
Almost immediately MoviePass admitted to underestimating demand and lacking the resources and infrastructure to even mail MoviePass debit cards. That began roughly two years of customer complaints and uncertainty as MoviePass would go on to change and limit service offerings, and even throttle service.
Also Read: MoviePass to Shift Business Model to Focus on its Own Films
While MoviePass enjoyed a period of rapid subscriber growth early on, hitting a high of 3 million subscribers according to one insider, the expansion proved economically unsustainable. The company burned through millions of dollars and for much of 2018 and put Helios and Matheson Analytics at risk of being delisted from the Nasdaq, as it traded below $1. At one point MoviePass even had to borrow $5 million to make missed payments to keep the service up and running.
Throughout its tumultuous 2018, MoviePass managed to stave off bankruptcy and find itself embroiled in shareholder lawsuits amid claims of fraud. And to put a cap on the oddity of the company’s struggles, in March it was forced to re-report third quarter financial results, due to initially believing it had more subscribers than it did. That resulted in a bigger reported net loss for the quarter, ballooning to $146.7 million from the previously reported $137.2 million.
But Farnsworth said that the subscription service proved its appeal despite its setbacks, and that tens of thousands of movie fans were on a waiting list to rejoin the service. “I’m willing to bid very aggressively,” he said, noting that the company could sell for over $100 million.
“A lot of the model has been fixed,” he said. “Where we went wrong? We waited too long in doing deals with theaters to move on and change our model.”
AMC stock hit its lowest point ever today , please tell me again how they are thriving... Theaters cant make money on subscriptions. Movie pass, if managed correctly- could.
Ironic that, they're stock price is nearly at an all time low eh. You don't win giving unlimited when youre a theater. They took the MP bait.
Attendance is up. But is revenue. They're giving away buy one get the rest for free tickets. Somebody has gotta pay, the studios.
Doubled down here today, news is coming
He said a group of investors so the bid may be higher than, what Ted's got in the bank or loaned to him
BUT THEY'LL HAVE TONS OF MONEY IN THE BANK FOR THE NEXT VENTURE
Let's go , take it back above 008 today.
The further it gets driven down the cheaper Ted gets it. Do you.
orca is "that guy"
Everytime
Regarding Border &
Monster's and Men
https://www.businesswire.com/news/home/20180924005510/en/MoviePass-Films-Co-Acquires-MONSTERS-MEN-BORDER-NEON
“We made the company a household name in two years and we disrupted the industry,” Farnsworth said in an interview with Variety. “We put hundreds of millions of dollars into the company, and I don’t want to just cut our losses.” - TYed Farnsworth
Among the options it’s considering are a sale of the company in its entirety, a sale of the company’s assets, including MoviePass, Moviefone and MoviePass Films, as well as the possibility of a reorganization of the company. Helios and Matheson Analytics noted that any transaction would include the “assumption or settlement” of any of its liabilities.
https://www.cnbc.com/2019/09/13/moviepass-will-shut-down-for-good-on-sept-14.html
The cost of the bid is going to have th be large enough to reimburse HMNY for all of the liability it took on, I think it's fair to consider the bid well over 100 million as thats what they had to pay to keep MP afloat. the initial bid statement ted made saated that the company was to be absolved of its MP liability. the bid is gonna have to be huge.
Seems like a lot of you need to learn something about movie profits https://www.investopedia.com/articles/investing/093015/how-exactly-do-movies-make-money.asp
Something like that.....
Invite orcam hell show you his fast leg dance....
New CEO is the same guy who presided when HMNY was actually in the 100's / share - LET'S GO
$HMNY New CEO Named
https://www.sec.gov/Archives/edgar/data/1040792/000121390019018800/f8k091819_heliosandmatheson.htm
ITEM 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 18, 2019, the Board of Directors of Helios and Matheson Analytics Inc. (the “Company”) appointed Parthasarathy (Pat) Krishnan as the Interim Chief Executive Officer of the Company. Since January 20, 2017, Mr. Krishnan, age 56, has served as the Company’s Chief Innovation Officer. Mr. Krishnan previously served as a member and Chairman of the Board of Directors of the Company (the “Board”) from April 1, 2016 to November 9, 2016 and as the Company’s President, Chief Executive Officer and Interim Chief Financial Officer from April 1, 2016 to January 20, 2017. From May 2013 to March 2016, Mr. Krishnan was the Chief Technology Officer and Co-Founder of Ciberoc Corporation. Ciberoc Corporation addresses cyber physical security needs using biometric authentication coupled with multifactor authentication for cloud infrastructure enterprises.
Mr. Krishnan will continue to be subject to the at-will employment agreement he entered into with the Company on April 7, 2016 (the “Krishnan Agreement”). Pursuant to the Krishnan Agreement, Mr. Krishnan’s annual compensation was initially $175,000 a year, which was increased to $225,000 on November 9, 2016. The Krishnan Agreement includes non-compete and non-solicitation provisions that continue for a period of one year following his separation from service.
There are no family relationships between Mr. Krishnan and the Company’s other directors or executive officers.
In addition, on September 18, 2019, the Board appointed Mr. Joseph Fried as the Chairman of the Board. Mr. Fried is one of the current independent members of the Board and a member of each of the Audit Committee, Nominating and Corporate Governance Committee, Compensation Committee and Strategic Review Committee.
I'm back in 2M
Let's go- we must breakthrough .013
We can get this to .04 tomorrow.
Couldn't be thinner- less than 1m shares on Level 2 to.006
THE 4M WALL IS GONE AND HAS BEEN POPPING UP PERIODICALLY UNTIL BUYS GET FILLED THEN IT COMES DOWN TO MOVE UP AGAIN
wEW SHOULD BE AT .10 ALREADY - IT'S BEEN OVERSOLD ON SCARED INVESTORS FOR OVER A YEAR. IT'S IN NETFLIX, AMC, AMAZON, REGALS, CINEMARK BEST INTEREST TO BUY OUT MOVIEPASS AND KILL IT BEHIND A SHED BEFORE IT TAKES THEIR FUTURE PROFITS, BID WAR TO BEAT OUT TEDS REVIVAL HOPE ON HORIZON - .07 - .15 AT MINIMUM
The price could really run to anything on speculation alone. Look at TLRY running to nearly 300 recently on speculation. There's, no reason with this, stocks history that the price couldn't run very high. Especially now.