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I can guarantee Mitch and Ted were cash flow positive.
Was Mitch's other endeavor NF, profitable when they were shipping DVDs, or only after they went to streaming?
I always keep an eye on Reddit for opinions and experiences of consumer subscribers. Many have mentioned that MP has promoted certain special deals for short limited time offers ($99/yr). Presumably in an attempt to gather necessary funds. Again the action will only bandaid the problem. Gaining funds now leading to more expense later has been the ponzi funding scheme that has caused backward expense issues that plauges forward viability.
Anyone thinking that MP is just keeping information suppressed for some big magical day of unveiling is smoking the wrong stuff. They are keeping information suppressed so that people don't all line up and jump ship. Even the subscribers they have are unsatisfied. Nobody gets what they signed up for and it's all going to wash down the drain.
Gaining new markets seem like a solution but it's just an function of the ponzi scheme method. Get new funds from a new source to pay for previous members. New markets come with the same end game. Those people are going to expect to see movies as well. MP can't sustain the model they have now. Successful business is based upon stabilize then grow. Not expand in the need to stabilize. The gambler model isn't going to work. "Im down on my bets, I just need to gamble more money to make up my losses".
3 movies is the new "heavy user". Every thread I read on Reddit is based upon the topic of being able to see 3 movies. If the consumer is restricted in anyway other than their own personal preference they are upset. You are right, the only way MP was able to reduce usage was with restrictions. And I don't see why C19 is so hell bent on getting a usage prediction out of you. Seems like a pointless jab to antagonise you. I know one thing usage anything over 1.0 is a fail. I don't care what Mitch says. Paying anything above sub revenue is a losing game.
I think that the methodology that MP is currently using is a short term fix with a long term fail attached. Consider this. Many already signed up people now being restricted or shutout completely leads to a lower usage rate. After time goes by they will quit leaving only the people that have a working circumstances of being able to see movies. With only members remaining of functional service e circumstances usage ratio is going to adjust upward by default. The only people who are going to stay members are those that can use the service. And people are not dumb. If they are not getting their money's worth compared to cost they are not going to stay signed up.
Ok, there we go. Someone got it up to 56k. Had me worried. For a minute there I wasn't sure what I was going to keep myself busy with today.
Someone should wake it up. Jump in there and slap it a couple times. Hello HMNY, wakie wakie. I know I'm hard on HMNY but it's like it's dead. Someone find a stick, we should poke it.
Wow, volume is non-existent so far today. I know it's early but normally we have a little more trading by now.
G'morning fellow analyst!
I just have a gut feeling that HMNY doesn't care if it goes to OTC.
You guys are all cool. Just wanted you to know that. Thanks for being real. Have a good night. I'm signing off for the evening.
Any successful business is going to be scalable at any level. For Mitch to be off trying to find new markets so that they can grow to become successful is the simplest way to know that this system is a failing model. If you constantly have to find a new market to infuse funding to support the previous market you have a service based ponzi scheme.
Pon·zi scheme
noun
a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.
There you have it folks plain and simple.
Mitch, guilty AKA Mitch Madoff
I should really take a minute to thank you pumps. Like I have said before, I used to be one of you. I read your posts and I get a quick rush of the old feelings I used to have. All the creative imaginary possible scenario s fill my mmind. The innocent considerations of optimistic potential for the managments motivation flow freely. But having been a holder of HMNY shares since Aug and having been through the torment, anguish, anger, frustration and let down that HMNY has unnecessarily burdened me and other investors with. I'm sorry, I'm spent. The number of hurdles that this security has faced and instead of successfully bounding past, they simply inconsiderately crashed into. One may feel that getting tripped up and continuing on is commendable, it's not. The name of the game is to preform as expected and follow rules. Some deviations or hiccups can be forgiven or accepted. But this company has trashed the market. It has done exactly what AMC said they were worried it would do. Ruined the movie going experience and brought negativity upon the industry. They expect other divisions of the industry to support their business and with no compensation for the needed time and effort. There is no support at the theater for the MP service and the theater has been burdened with questions and customer service that is not their responsibility. It was an unwanted addition to the industry. Nobody was asking for it. It is just an uninvited 3rd party middleman taking undeserved money out of the system. They tried to be clever and shift financial burden to stock investors. None of the promises have been fulfilled. No advertising no links to moviefone, why isn't moviefone at all promoted by MoviePass? Because it is successful and they dare not associate it with the publicly humiliated MoviePass brand. It's junk and Mitch is off talking to anyone and everyone he can to try and find someone to off load the MP steaming pile of crap that it is so that he can hopefully save the shread of Fame that he has over inflated his name with NF. He is nothing but a tag along. HMNY knows it's a money pit, which is why they want to spin it off. On it's own it will shrivel and waste away. Mitch knows this so trying to pitch to some other deep pocket sucker. He is a never-has-been who got lucky. And his limits as a person are going to become very evident as his pride NF slowly deteriorates and fades of. Don't forget the guy is a video chain manager who didn't graduate high school. What business does he have giving seminars and public speaking events he is a charade and if he was honest as an individual would represent his true background rather than falsifying his credentials. Basically the guy is a scam artist. I actually have more respect for Ted over Mitch. Ted is a shmuck but Mitch is a scammer.
... and then there were 4
See, told ya. Total HMNY share junkie. Even Ted the CEO has only like 80k shares or so. ~B~ he needs them all. I'm telling you someday, future owner of HMNY via hostile takeover.
I believe him. For one his name is Jon. And two he is smiling. Two features of trust worthiness.
Also I have read that the theater is able to choose the availabity of movies. Not surprised MP is a complaint super generator. With all the charge backs and stopped transactions they caused credit cards probably didn't make any friends there either so only a matter of time.
No he is about to get a raise. Where did you hear he was getting fired? I would have to jump back in if there is any truth to that.
I hope MP is getting a commission for all the customers they are sending to AMC.
Makes sense. Thank you for sharing your experience. It's good to hear from an ex subscriber. And good to hear the response from the AMC chain.
MoviePass! Join over 2 Million cancelled subscribers!
I wouldn't call 5 members a busy board.
Almost there, closer on the daily.
Kind of a strange omition from a supporter. "Yea, we all know MP screws over subscribers to reduce usage rates". Basically what you just said right?
I believe you. Makes no sense that you would just wake up today and tell yourself "I'm bored, I'm going to go bash MP on the Ihub HMNY board" out of randomness. Doesn't seem like they are not accepting the card it seems like they are not making movies available to MP to distribute for them. I have read in the past that the theater chooses what movies and times are available. It was one of the articles just before the Spain article. And why else would MP make the statement "available at 91% of theaters" And why would there be any reason for MP to put the disclosure on the card stating "only at MP theaters" if it was universal. Sounds like the model is coming unraveled. NF is loosing traction. MP never really had any. Mitch and his time have come and gone. And just like he said in his interview "retire after this". He put Khalid in the Exec scape goat position already sounds like he is heading of to the retirement community.
Who told you, if you don't mind saying?
Probably why the card now has the MoviePass theaters disclosure on it. Well isn't that just a tit for tat being that MP blocked them out earlier in the year. I wonder how they can stop MP with the whole Master Card acceptance rules. Interesting, if anyone calls customer service and gets a answer please let the board know the response. Thanks.
FYI, your emotional evolution is progressing spot on in regards to the normal pattern of ttpical HMNY trader history. First comes the ignorant initial buy in at market rate. Then comes obnoxious outspoken bullish support on message boards. Followed by continued purchasing at over priced values. After that a bit of conscience thought begins to emerge and the concept of buying at a more conservative rate emerges. Your current phase, what we see now is wanting the price to crash so you can really load down the boat. But after this evolutionary segment is where wisdom really starts to develope. After you realize that your "hoping that your holding goes down so you can buy more?" This observation wakes you up, but it's to late. Millions of shares neck deep in a sinking ship. No worries we will welcome you to the group of the wise and tou can take part of hazing the newbs that will certainly show up soon enough.
It would be a great addition to the debt burdened model NF is currently executing. And with everybody and their brother starting their own streaming service it would marry nicely with a subscription service where everybody is starting their own subscription service. They could change the new merger name to "OldHasBeens". That way Mitch and Ted feel like good name sakes. All was good when there we're no other fish in the pond. But now that established conglomerates see the potential disruptors will be disrupted.
It's about to be 2019. Ted has new upgraded technology. He is going to just vaporize people, no blood mess.
Anybody who is thinking of selling for the write off don't forget. You have to wait 30 days before buying back in. So depending on how you think it is going to perform in the new year plan your order accordingly.
Article is so dated Mitch had hair...
.0158 Landslide! Everybody run for your lives!
The vote is non-binding. Vote will not stop the compensation from being authorized.
I'm always talking about HMNY propping this up. Look at the 219k share road block at .0159 They are trying so hard to keep it from dropping any lower.
ECHO...ECHo...ECho...Echo...echo...ech...ec...e...
And then they can be bought again after the new year at a new discounted rate. No worries.
I totally understand. I have a very abstract mind (evident from my posts). I don't have any solid links that would indicate such things but I have been following HMNY from the day of the 1st R/S and it has been a perplexing puzzle ever since the interest first began. I could try to explain via text in posts but I would be futile. But it first spawned from the puzzle of why HMNY wanted to increase from 600M shares to 5B. Also it gave the excuse to R/S and ATM shares due to the desire to have another IPO. I can't really fully explain the purpose beginning to end but just concidered the notion and see how it all fits together with their decisions, results of actions and today's current situation and behaviors.
Yes like I had PM'd you days ago. I believe that HMNY has intentionally influenced the price down to this level. I have been trying to get people to understand my theory that since before the first R/S this has been their plan. The reason this has lost it's share value is completely due to HMNY intentionally influencing it down. That is why I am so against investing in it.