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Going over the SEC filings, here's what I've gathered:
1. The Special Meeting (the day of the vote) must happen no later than July 18, 2018. I suspect they'll mail out details to shareholders as of SETTLED record date of June 25, 2018 (or those who purchased shares on or before June 21, 2018 and did not sell until at least June 22, 2018).
This explains why the stock ran up on the 21st, but sold off on the 22nd as previously predicted. However, they oversold, causing some longs to sell out, further weakening the price, so these manipulators were trapped bagholders too. The only way to get out is to accumulate and buy shares back up, hoping momentum traders jump in, and then manipulators sell out (today) while more bagholders buy their shares. Expect a bloodbath next week.
2. Regarding the authorization of 5 billion shares (2 billion initially, but they increased it to 5 billion), the SEC filing states "If the Share Increase Amendment is approved by the Company’s stockholders, the Company intends to file the Share Increase Amendment with the Secretary of State of the State of Delaware promptly following the Special Meeting."
In other words, prepare for massive dilution shortly after the meeting. They would only increase 2 billion shares to 5 billion shares for one reason: They know they need A TON more financing and plan on diluting the eyeballs out of shareholders. As I've said before, current shareholders will be wiped out.
They also increased the reserved shares for note holders from 277,363,962 to 419,822,957.
3. Proposal 3 refers to the reverse split. It states "If the Reverse Split Amendment is effected, as described below in Proposal 3, there would be additional shares of common stock available for issuance by the Board in its discretion, without further action or approval of the Company’s stockholders, subject to and as limited by applicable law, regulation and the rules or listing requirements of any then applicable securities exchange."
In other words, prepare for massive dilution once the reverse split happens. Shareholders no longer have any say in it.
4. HMNY SEC filings further state "In September 2016, stockholders of the Company approved a one-time reverse split of the common stock at a ratio and at a time to be determined by the Board. However, the Company never effected a reverse split of the common stock. While the Board believes that the prior stockholder approval of the one-time reverse split gives the Board the current authority to effect a reverse split at this time, it is seeking stockholder approval to effect a reverse split following the Special Meeting."
In other words, if the vote for reverse split fails, HMNY believes they have the legal right to effect a reverse split and will do so to prevent delisting. Either way, shareholders lose and HMNY does SOME reverse split. However, they want a vote on it, so they can do a 1 for 250 reverse split is my guess. I can't seem to find the details on the 2016 reverse split.
5. No later than October 18, 2018, they will convene another special meeting "to approve, to the extent required by Nasdaq Listing Rule 5635, the issuance of all shares of common stock of the Company that may be issued pursuant to the terms of the Convertible Notes".
Sounds like they want to dilute more before October is over.
When I started re-posting on 4/24/18, HMNY was $2.42. Look where it's at now. If you had just listened, you would have 10x more shares. If you had followed me much further back and sold above $30 like I did, you would have 100x more shares.
HMNY appears to be going for broke. Investors are already there.
https://seekingalpha.com/article/4184497-helios-matheson-going-broke-investors-already
5 BILLION SHARES to be authorized and voted on. YIKES!
Again, I was busy today... just got some time to read the 6/29/18 HMNY SEC filing.
It states "SECTION 1.01. Voting Agreement. Subject to the last sentence of this Section 1.01, the Investor hereby agrees that at any meeting of the shareholders of the Company, however called, and in any action by written consent of the Company’s shareholders, the Investor shall vote the Investor Securities, which Investor is currently entitled to vote, or after the date hereof becomes entitled to vote, at any meeting of the shareholders of the Company: (a) in favor of (i) the Shareholder Approval (as defined in the January Securities Purchase Agreement), (ii) the Stockholder Resolutions (as defined in the January Securities Purchase Agreement), (iii) an increase in the authorized shares of the Company from 500,000,000 to 5,000,000,000"
https://www.sec.gov/Archives/edgar/data/1040792/000121390018008472/f8k062818ex10-2_helios.htm
That was before Ted showed his true intention of destroying shareholders. You realize that's why the stock is now trading in the pennies, right?
Looks like 419,822,957 reserved shares now. Hmmm I just got time to read a little more of the HMNY 6/29/18 SEC filing.
6/29/18 SEC filing from HMNY:
https://www.sec.gov/Archives/edgar/data/1040792/000121390018008472/f8k062818ex10-1_helios.htm
As of June 26, 2018, the authorized capital stock of the Company consists of (A) Five Hundred Million (500,000,000) shares of Common Stock, of which, 227,252,709 are issued and outstanding as of the date hereof and 419,822,957 of which are reserved for issuance pursuant to the Equity Incentive Plan, the Company’s outstanding Convertible Securities and other obligations of the Company, and (B) Two Million (2,000,000) shares of Preferred Stock, 20,500 shares of which are designated as Series A Preferred Stock and are issued and outstanding before giving effect to the Closing.
From the 6/4/18 SEC filing:
https://www.sec.gov/Archives/edgar/data/1040792/000121390018007175/f8k060118ex10-1_helios.htm
Current Issued and Outstanding and Reserved Shares. The Company hereby represents and warrants to the Holder that, (a) as of the date of this Amendment, the Company has 500,000,000 shares of Common Stock authorized, (ii) as of May 30, 2018, the Company had 153,927,839 shares of Common Stock issued and outstanding and an aggregate of 277,363,962 shares of Common Stock reserved for issuance pursuant to outstanding securities that are convertible into or exercisable for Common Stock and other obligations of the Company, after giving effect to this Amendment and Amendment No. 2 to the Securities Purchase Agreement, dated January 11, 2018, between the Company and the buyers signatory thereto, and the convertible notes issued pursuant thereto.
Spot on brah :) Yes, some days more busy than others. And I like helping others out. Like I said, I don't lie, I just present facts and analysis. I'm not 100% right. No one can be 100% right all the time. But as others have pointed out, when I'm wrong, I'm damn close.
Check them out yourself :)
Someone asked me about Bob Visse's updated Peak Pricing model, the one listed below. My analysis of his analysis in case someone's interested:
Short version: Utter non-sense with numbers he entirely made up.
Long version: Bob Visse has been dead wrong for months and months. That alone speaks volume. The numbers he used are entirely fictional. He didn't even have the decency to use real values from the recent 10-K report for January-March.
Here we go. He states the following:
Jan Sub Revenue (entirely made up): $16,915,000.00
Jan Ticket Rebate & Concessions Revenue (huh? Where did he get this from?): $261,800.00
Advertising Revenue: $85,000.00
Feb Sub Revenue (entirely made up): $18,347,500.00
Feb Ticket Rebate & Concessions Revenue (huh? Where did he get this from?): $394,625.00
Advertising Revenue: $205,000.00
Mar Sub Revenue (entirely made up): $19,080,000.00
Mar Ticket Rebate & Concessions Revenue (huh? Where did he get this from?): $646,800.00
Advertising Revenue: $600,000.00
Total Sub Revenue added up, per Bob Visse's numbers: $54,342,500
Ticket Rebate & Concessions Revenue: $1,303,225
Advertising Revenue: $890,000
Total (from Bob Visse): $56,535,725 for January through March, 2018.
Actual values from the 10-K SEC filing:
Subscription for the 3 months ended March 31, 2018: $47,162,447
Marketing and promotional services (same period): $1,440,910
Total (per the SEC filing): $48,603,357
============================
He's off by $7,932,368, or 16.32%.
============================
He then further makes up the other numbers. He assumes that advertising revenue jumped from his calculated $890K to a whopping $5.23 million by the 2nd quarter (April - June). That's non-sense.
Bob Visse then adds $500K+ per month from MP Films / Ventures Revenue starting in July.
I previously calculated (I'll copy/paste here) American Animals' numbers, assuming it banks $4 million, that it would still be a NEGATIVE $2.5 million to NEGATIVE $4.5 million net loss. That's horrible. Bob Visse did not take that into account.
=====================
My calculations on AA results and costs:
-$3 million (to buy rights to the movie)
+$4 million (if lucky, from movie ticket purchases)
-$2.5 million (about 65% revenue split goes to pay theater chains)
-$1 to -$3 million (depending on how many MP subscribers went to see the movie - I know some pumpers claim that there were a lot of MP cards used)
=====================
-$2.5 million loss to -$4.5 million loss
Yikes! The math doesn't lie.
http://bobvisse.com/updated-model-including-peak-pricing/
I said before the summer is over. You realize we're still in the summer season, right? (Northern hemisphere of planet Earth).
Ummm yeah? I already told you guys in my chart analysis. Look at my historical posts. You will see where I put that resistance line.
Updated chart showing the past few day's price action. Any dum dums not sold out yet will regret next week. Nothing has changed. $40+ million loss as I previously calculated (which Ted didn't admit until just last week. He claimed it was $20+ million and then claimed they had reduced the expense by "35%" or whatever, yet the number now is $40+ million. Hmmm smells fishy to me.). AA losing money, Gotti not doing much better with a $10 million price tag. We still don't know how much dilution and cost goes to acquiring 51% of a money-losing business of Oasis (sued for fraud, not paying a director).
https://photos.app.goo.gl/jGicDfoTjBpfnEAg7
All skillz baby
Just look at my post history next time.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=141847135
Posted on: Wednesday, 06/27/18 07:57:52 PM (i.e. last night, predicting the dead cat bounce)
My crystal ball says this pop was expected, and will not last. Sell out while you can. How I make a profit when I'm trading is I sometimes either sell my principle and let the profits ride, or I sell half or a third and continue to sell on the way up, effectively averaging up on my sale price.
You have to remember that there are A LOT of trapped longs. They will sell out any chance they get. If you don't sell, they will. You also have to remember, there are a lot of traders who also jump in just to sell on the pops.
News does not matter. What matters is the massive dilution that has been happening and WILL happen. This dictates the stock trend going down. These volatility are just for trading. That's all. Get 5-25% on your return, and compound it and eventually you'll double your money fast. There's no reason to baghold. The problem is any day, we'll see bad news from SEC reports, or trapped longs will sell out or sell at a loss and give up. Again, no reason to baghold.
When a stock is trending up like when HMNY went from $2 to $38, it would go green 15%+ per day for 2-4 days, gradually sell off slowly and then go up again for 2-4 days. That was before there were trapped longs. Those days are long gone. To win in the market, you must be able to predict what other people will do. How YOU feel does not matter. It only matters how OTHERS feel. It's your job to identify their sentiment and predict how they'll trade and be one step ahead of them.
Someone on another forum asked if it's possible HMNY can go from 20 cents to $1 in one day. My response to that person was this:
=========
Yes, there are only a few possibilities. Note however, that none of the possibilities have a very high probability of acutally occurring. You're new to the stock market, so you should know never to invest on possibilities/hope. You should only invest on probabilities. Possibilities include:
1. Ted Farnsworth getting fired *and* MoviePass subscription prices increases to $14.95.
2. A rich dude like Warren Buffett starts buying shares, pays off all note holders *and* gets hired on the board of directors (so crooks don't run the company down to the ground).
3. AMC and other major theater chains suddenly do deals with MP.
4. Amazon offers to pay $5 per subscriber per month for rights to advertise to MP subs.
5. RedZone is suddenly utilized by Trump to track all his enemies. (Anti-Christ, end of the world rapture stuff)
6. Thanos invades Earth and turns back time.
Here you go guys. My old chart, showing the trend line. Whenever a stock price deviates from the trend line too far, it'll snap back. This is your chance to sell out. I expected at least 25 cents on the pop, but looks like it went above 26 cents. Enjoy!
https://photos.app.goo.gl/mRnmJEefm1JvANUVA
Don't hate because you don't have skills yo. Don't playa hate. Hate the game, not the playa.
I guess I'm right again :) Last chance to sell out today folks. Ted Farnsworth hasn't even released details on the 51% Oasis acquisition. I suspect because he's out of shares to dilute and waiting on the 2 billion total authorized shares, he will have to wait until then to drop the bomb shell of how much shareholders' money he wasted on it. However, who knows, maybe he might come out with news sooner on it.
One thing's for sure. Each time the stock price rises, it's either due to a technical dead cat bounce as I predicted (among many other things, thank you very much :p), or it's crooks running it up for a reason, either to dilute or do some other bidding like voting for the R/S and such.
Have a good day everyone!
The only force destroying this company is Ted Farnsworth and his scamming Indian consultants who got delisted from the Indian stock market getting paid more than $200K USD a year from HMNY, and getting awarded HMNY stock and selling shares of HMNY stock on poor bagholders.
Here's the expected technical bounce I talked about. I could do the charts to show you, but it'll be a waste of my time. Here's your chance to get out. Since the fall from $38, HMNY only stays green for 1-1 half days before selling off even lower. Lower highs, lower lows. Day trade this puppy, but don't baghold.
From a technical standpoint, there should be a dead cat bounce. But, that's a risky play since you never know what comes out after hours so I wouldn't hold any trades on HMNY overnight. If it's down a 15% for a few days in a row, it's a good time to buy for a day trade. That's about it.
I was aware of that and tried to warn people. Indian fraudster working for HMNY and directing HMNY on MoviePass AND getting paid a ton of money to do it.
OK, here's what I found on the 10-K annual report:
Summary:
a) As of December 31, 2017, HMNY had a subsidiary in Bangalore, India with 6 employees there.
b) Muralikrishna Gadiyaram co-founded HMIT in 1991 and has been a member of its board of directors since that time and has been its Chief Executive Officer since March 1991
c) On January 21, 2016, HMIT basically got ordered by an Indian court to liquidate due to creditors' claims against it. If this happens, HMNY loses out on $2.3 million they can collect.
d) It sounds like as of May, 2018, the Indian stock exchanges delisted the HMNY Indian subsidiary as per one of the links on that article you posted.
e) Due to Mr. Gadiyaram's "long experience with HMIT", in November, 2016, 10 months after the Indian court ordered the liquidation of HMIT, Mr. Gadiyaram was basically handed a director position.
HUH? So this guy's department basically commits a crime serious enough to have the Indian courts threaten liquidation and he gets promoted to become a director? Excellent!
f) But wait! There's more! (think Billy May's voice inflection). Less than a year later, in October, 2017, he gets to become consultant (including for MoviePass, yikes!) and is being paid $18,750 per month in cash. That works out to $225,000 per year, in cash.
Hmmmmm yeah.... so the dude's unit basically doesn't pay creditors back, gets ordered to liquidate, he gets a promotion, and he gets to advise the U.S. operations on how to do business, AND he gets paid $225,000 a year! WOW! Sign me up baby!
===========
"On January 21, 2016, HMIT became subject to a liquidation order by an Indian court resulting from creditors’ claims against HMIT. On February 15, 2016, the High Court of Judicature at Madras (Civil Appellate Jurisdiction) issued an order of interim stay of the liquidation order. HMIT continues to await a decision from the High Court of Judicature relating to this matter. If HMIT becomes subject to liquidation, the Company would likely not be able to collect the full amount of $2,300,000 reserved in its September 30, 2016 and December 31, 2016 financial statements."
(Above, taken from the 10-K, page F-23)
"Mr. Gadiyaram’s long experience with HMIT, the business of which is similar to ours but conducted outside of the United States, gives him an exceptional understanding of our business and led us to believe that he should serve as a director."
"Muralikrishna Gadiyaram has been a director since November 9, 2016. Mr. Gadiyaram co-founded HMIT in 1991 and has been a member of its board of directors since that time and has been its Chief Executive Officer since March 1991. Prior to founding HMIT, he had 15 years of senior level work experience in marketing and commercial areas. Mr. Gadiyaram is primarily responsible for giving a customer oriented focus to the organization. His strengths include team building and forging lasting relationships with institutional clients. Mr. Gadiyaram is a gold-medalist graduate in science with post-graduate education in business management from the Indian Institute of Management in Ahmedabad, India. On January 21, 2016, HMIT became subject to a liquidation order by an Indian Court resulting from creditors’ claims against HMIT. On February 15, 2016, the High Court of Judicature at Madras (Civil Appellate Jurisdiction) issued an order of interim stay of the liquidation order, providing HMIT with an opportunity to work out the claims of its creditors."
(Above, taken from the 10-K, page 33)
"On October 5, 2017, we entered into a consulting agreement (the “Consulting Agreement”) with Mr. Muralikrishna Gadiyaram, a director of the Company. The Consulting Agreement formalizes the consulting arrangement between us and Mr. Gadiyaram, for which we have been accruing consulting fees since January 1, 2017. Mr. Gadiyaram has been providing consulting services without an agreement or compensation since our acquisition of Zone in November 2016. Pursuant to the Consulting Agreement, Mr. Gadiyaram will continue providing guidance to the Company and Zone relating to the further development of their respective businesses and technologies, including, without limitation, rolling-out the RedZone Map application outside the United States, particularly in India. If requested by the Company, Mr. Gadiyaram will also provide guidance with respect to the development of any businesses or technologies that the Company or Zone may acquire during the term of the Consulting Agreement, including, without limitation, MoviePass. In exchange for his services, Mr. Gadiyaram will receive fees in the amount of $18,750 per month in cash. Following our execution of the Consulting Agreement, pursuant to its terms, we paid Mr. Gadiyaram the accrued consulting fees for the period from January 1, 2017 through June 30, 2017, which did not become due or owing until the execution of the Consulting Agreement. The Consulting Agreement has a term of two years but may be terminated by either party at any time by giving 30 days written notice to the other party. If we terminate the Consulting Agreement without Cause, as defined in the Consulting Agreement, prior to the end of the term, Mr. Gadiyaram will be entitled to a termination fee equal to the lesser of (a) the consulting fee for the remainder of the term, or (b) the consulting fee for a period of 12 months following the delivery of written notice of termination by the Company, in each case payable monthly and subject to proration."
(Above, taken from the 10-K, page 41)
To see the original post, go here, and Ctrl + F for "Indian":
https://seekingalpha.com/user/48522202/comments
I did the DD for you and everyone, everywhere. I posted my DD, did the math, did the SEC reading, highlighted important key words, explained, did the dates, was dead on accurate on so many things, yet people chose to ignore the facts and just called me a paid basher. I mean I didn't even get the Nobel Peace Prize or anything for my efforts. Even now, there are clowns around town who still think it's a great buy, ignoring the fact that they will be wiped out. There is no rush to buy HMNY. There. Is. No. Rush. To. Buy.
They are diluting 1.5 billion more shares. I would sell now before it's too late. It's going much, much lower.
RIP - Some day, pumpers will learn.
Buddy, go through my post history. Count how many times I was spot on and how many times and how many times I was wrong. Compare it with other posters. If you aren't man enough to do that, then you're just a sad baggie :)
Delisting noticed received as expected. R/S will happen and then massive tanking/dilution, or a refusal of R/S, and delisting will happened, followed by massive sell off, R/S and then massive dilution.
Glad it helped a few sane people :)
That's because as I've said all along, you think you're investing in MoviePass, but you're really investing in HMNY.
https://photos.app.goo.gl/Pgxp3ff4nCMLWscr5
You assume this is the work of shorts. This is the work of a greedy and poor management.
You've decided you won't listen to a single word I'm saying so what's the point? Choose to believe what you will. Let's compare notes in 3 months, in 6 months, in 9 months. Don't say you weren't warned.
Saying there is no rush to buy is effectively saying the same as: sell as soon as possible. Buying is on one side of the equation and selling is on the other side of the equation.
So just to be clear, if you want to gamble, sure, you can throw some amount at the stock. Sure, there might be a pop/rise in the stock here and there. But the reality is that so many people have lost money and with the future of the stock so clearly written, with every single pop, there are tons of people waiting to sell out just to get out even. I previously explained how resistance works. If I bought at 40 cents, and I keep seeing the stock price go down each day, if the stock price comes back up to 40 cents, or sometimes even just 39 cents, I might sell out to get out before I lose that chance forever. Winning in the stock market is understanding the psychology of being able to predict how others will behave, how they will buy/sell. It's not about just throwing $10K on red and "hope" you win. That's called gambling. How you win is true, educated guesses on how people will react, based on real facts (i.e. SEC filings), and not hope and hype.
So, being that you go in at 34.5 cents, is it possible the stock price will jump back up to that level and slightly above for you to sell at a profit? Possible. Is it probable? With each passing day, as the stock price dips lower and lower, the probability of that happening diminishes. It's like tossing a coin 10 times in the air. Will it get heads 7 times and tails 3 times? Sure, it's possible. But as you toss the coin 50 times, 100 times, 1,000 times, an infinite amount of times, the probability of the coin hitting heads or tails approaches 50%. The probability of it hitting heads 70% of the time and tails 30% as you toss the coin an infinite number of times is ZERO, nada, zilch. So, the math tells us that in the end, you must only risk that which you can afford to lose.
Diluted from under 10 million shares (August, 2017) to almost 220 million shares (June, 2018) or basically worth 4.5% of what it was before.
Best part? 2 BILLION shares total will be authorized soon.
Read the SEC reports. Everything is there. Uncle Warren taught us that reading is key to success in the stock market.
https://www.sec.gov/Archives/edgar/data/1040792/000121390018007896/pre14a0618_heliosandmatheson.htm
I will highlight some important notes for you:
1. https://photos.app.goo.gl/qhAeSWGctDru1JcdA
"Our board has set June 25, 2018 as the record date (the "record date") for the Special Meeting. All stockholders who own voting securities at the close of business on the record date may attend and vote at the Special Meeting."
The SEC has a 2 day settlement period. In order to be considered a record holder as of June 25, 2018, you need to have purchased shares of HMNY 2 trading days before, on Thursday, June 21, 2018. This is why I predicted massive sell off starting Friday, June 22 and today from crooks who ran it up just to be able to vote, who no longer need to be bagholders and thus sold/is selling out.
2. https://photos.app.goo.gl/AiBgWdNq5B6CKSJp7
It's important to note that the of the $60 million funding from January, $25 million was in cash, and $35 million is in a future notes payable to HMNY. The $25 million in cash has been repaid back. In other words, HMNY borrows from Paul to pay Peter. At the rate of $40+ million loss per month, HMNY has to borrow from more Pauls, Mikes, Amys etc. In order to actually use the $35 million, HMNY has to issue a ton of shares to that investor. Because this share dilution exceeds 20% of the outstanding shares, they have to get shareholder approval.
In fact, the SEC filing states that the original conversion price was $11.44, with a conversion price per share as low as $1.83. However... (continue below)
3. https://photos.app.goo.gl/gJRRZvYExGmNNHT77
However, with shareholder approval in the upcoming Special Meeting, as of June 19, 2018, the conversion price will drop drastically to 34.5 cents at 112,995,806 shares being diluted. Remember that their 8-K dated June 21, 2018 states "As of June 19, 2018, we had 222,914,649 shares outstanding". This means the dilution from the January notes holder, in order to use the $35 million from them, HMNY must get shareholder approval AND dilute 112,995,806 / 222,914,649 = 50.69%. The total outstanding shares would then increase to 335,910,455. Effectively, the intrinsic value of the current share price would be worth half...
4. Additionally, if HMNY defaults under the provisions set forth in the January Notes agreement, HMNY would need to issue another 21,302,488 shares to this investor.
5. On top of this, the January Notes has an incidental anti-takeover effect clause in that if it seems this investor is attempting to take over the company by accumulating the majority of the outstanding shares, HMNY would effectively increase more shares so that this January Notes investor isn't the majority stock holder, thus further diluting misguided shareholders down to basically nothing. Yikes!
6. https://photos.app.goo.gl/H1jz1fYxaNCnALkU7
According to the recent $164 million funding from an investor, only $20.5 million in cash is made available to HMNY, unlike some pumpers claiming they now have $164 million to use. The $139.4 million will be available as a promissory note, similar to the dilution I explained above. When HMNY needs this $139.4 million in the future (or when HMNY defaults, or when the buyer of this note wants to exercise his/her rights), expect MASSIVE dilution to come.
Don't forget, there are other promissory notes HMNY has done in the past 9 months. In my opinion, Ted Farnsworth's continued intentionally money-losing scheme (remember, his last interview said losing money was the goal all along, to gain MoviePass subscriber count), is like selling one's soul to the Devil. Instead of attempting to gain MP subscribers at a legit rate, without utterly destroying shareholders, he's trying to gain sub counts as quick as possible, all to project his will on AMC and other major theater chains sooner. Could MP be "great" 5 years from now? Maybe. Maybe not. Will current shareholders survive? I highly doubt it. Will MoviePass survive? Questionable. The bill comes due. This is only the beginning.
7. https://photos.app.goo.gl/mMwfmnz7bsETmXQ47
Finally, in the event of a default (which as I previously stated, includes FAILURE in reserving a number of shares to allow note holders to convert into dilutive shares, which is why the November and January Notes holders agreed recently to lower their 200% reserved number to ~100%, or else HMNY would have been in default due to the MASSIVE ATM dilution it has been recently doing.
Guys, the fine print in the SEC filing tells us EXACTLY what's going to happen. There is no conspiracy theory, there is no short attack, there is none of the above other than HMNY's poor management destroying shareholders. As previously predicted, we are seeing 20 cents range in June, and will see under 10 cents before the summer is over. This puppy will be trading, in my educated opinion, under 1 penny before Thanksgiving (pre-reverse split). Current generation shareholders will be wiped out, EXACTLY like prior generation shareholders/bagholders being wiped out. There is no rush to buy.
There. Is. No. Rush. To. Buy.
Again, there is no rush to buy HMNY stock.
Ted Farnsworth (with Mitch Lowe sitting next to him) said in an interview with Yahoo Finance in January, "MoviePass would be self-sufficient within the next 60 days" that it was "not going to go through cash burn, from multiple revenue streams". This puts that promised time squarely in the March, 2018 time frame. It's now the end of June, and they are losing even more money than ever before. Frankly, I'm surprised we haven't seen multiple class action lawsuits pop up yet.
Ted Farnsworth is a career liar. He's good at lying to people because he's been doing it all his professional career. There are more descriptive terms one can use to describe that kind of behavior. Spend a few minutes researching Ted Farnsworth and you will find out the truth. As long as Ted is at the helms, HMNY will keep going down. Some people have lost 99% of their investments with HMNY. The best part? People right here, right now, in my honest projections and opinion, will lose 99%+ of their investments.
Investors Hub keeps everyone's post history. Just spend some time reading people's post history to see who's been spot on and who's been dead wrong.
May the truth set you free.
OUCH! Exactly as I forewarned. Smart people found out long ago that when I warned, they listened. I wasn't going to post, but hey, there'w WiFi these days at beach houses so I figured what the hey? What's one more warning to misguided longs even though they won't listen?
I posted it on 6/22 right as the market opened. I warned manipulators would be dumping. See my historical post on 6/22. Read the SEC filing to confirm yourself.
ClayTrader's got a good point, speaking from all technical aspects. I actually agree with him, that the trend is going down. However, what ClayTrader is forgetting is that the SEC filing clearly states those shareholders of certain record holders of a specific date are the ones who will be able to vote for the reverse split and the 2 billion share authorization. I previously forewarned that on Friday, we would see a dump because it's my opinion that Canaccord, at the direction of HMNY, ran up the price so HMNY would be the majority voters to effect the reverse split and the extra share authorization. After that record date, they no longer needed to baghold, hence they sold off on Friday. It happened exactly as I noted. If you look at the volume, it's very possible there are more shares they purchased for this reason that they need to unload. I suspect we'll be seeing more red this week. In fact, I previously warned we'd see the 20 cent range before June is over. Let's see what happens this week.
For those who are still clueless and think HMNY will see $20 in a year, you are sorely mistaken. Each time the stock sells off to a low point, that low point represents the support level. New longs and old longs take positions, holding the stock price up. As the stock price moves back up and gets sold off (for any reason), and drop below this support level, this support level then becomes a resistance level. WHEN (not if) the stock price tanks far below that level, and IF the price moves back up to or close to that level again, it becomes the resistance as trapped longs attempt to sell out. This is why since the fall from $38, each time the stock price goes up 1 day (10%, 40%, or whatever it might be), the rally rarely ever holds one day. Trapped longs from above sell out, leaving new bagholders to hold the bag. These new bagholders then become the resistance for the next time the stock price moves back up again. The has been diluted so much (and will be diluted billions of shares more) it's intrinsic value is in the pennies now only. There is no way, ZERO, NADA, the way Ted Farnsworth is leading the company, that this stock will see $20 again, let alone $10 or even $5.
Smart cookie ;)
Yes, I expected the market to crash by mid or late 2019. The market typically tops when unemployment flattens out and starts going back up, which leads to a recession. However, with the tax stimulus so late into the cycle and trade wars, inflation will creep up fast, forcing the Feds to raise interest rates faster, triggering a recession probably sooner than expected.
The tariffs against Canadian lumber has actually caused new housing prices to go up the past few months. But, history will judge us. See ya :)