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Right... and I remind you:
HMNY is down -99.99992794647452% from the all-time high. $10,000 would have turned into 7 cents.
To put it into perspective, if you placed 0.00028 (pre-split amount of the 0.07 you see for the stock price) into a tax-deferred account and let it sit in the following types of accounts, this is how long it will take you to get back to the all-time high:
1. S&P 500 at 10% average annual returns: Over 124 years
2. Some magical fund that does 15% on average annually: 84 years
3. Warren Buffett lives on and does 25% annual returns for you: 53 years
Remember, as I've warned all the misguided souls who were CRUSHED by this epic stock tankage for the past few months, I am not your enemy. Ted Farnsworth is. He's done an excellent job at destroying this stock, more so than ANY SHORT ever could.
Have you researched Ted Farnsworth yet? If not, go through my post history. I did the due diligence for you already.
If MoviePass actually implements the $14.95 fee AND limits excessive watchers (but DO NOT across the board prevent casuals from seeing movies and therefore lose millions or tens of millions of of potential customers forever or even before they become customers from bad publicity), they may still make it. The ONLY way HMNY and MoviePass makes it out alive right now is they: Must. Stop. The. Cash. Burn. WithOUT. Losing. Casual. Subscribers. Period. There is no other way. Heavy users can go. They need to quit it with the "but we need analytics". What they need more is money and sustainability, not this analytics BS.
They CANNOT be restricting blockbuster movies an they CANNOT be showing available times to watch movies only at 10 PM on weekdays and Sunday nights, or movies that are only at theaters 10+ miles away like they've been doing. This shizit won't fly.
However, Ted Farnsworth has to stop egging Mitch on to lower the price and treat MoviePass like a ponzi scheme. It's his war with AMC that lead shareholders down this destruction.
And, all the Costco full refund chargebacks + credit cards and banks in the very near future is going to be painful for HMNY. Somehow I don't think we've seen the bottom yet.
This is the first post of yours I agree with lol
LMAO this Triton fund thing is a joke. Light has a wave-particle duality that manages to become one or the other, depending on what you're actually measuring. The very act of measuring light causes it to be one or the other. How light phenomenon relates to HMNY and MoviePass is that if Triton REALLY wants to buy out MoviePass/HMNY, it needs to do it when the stock price is as low as possible. It's in Triton's best interest to see the stock fall another -99% PLUS from here, to around 0.001, and for MoviePass to continue its relentless monthly cash burn, causing HMNY to keep diluting (as my math showed) until the 5 billion shares are almost out. 4 billion shares x 0.003 = $12 million. That way they can buy all the shares and be majority shareholder owner. That's because if you bother reading the SEC filings, as I've already pointed out, HMNY is already prepared for this and their SEC Form 424B5 dated 7-10-2018, page 11 covered the subject of a hostile takeover. In that event, AUTHORIZED but UNISSUED shares would be used to dilute like hell in order to prevent Triton (or any other shareholder) from being majority shareholder. That same form states HMNY can do "blank check preferred stock". Think about that for a moment. Remember that voting multiplier for Series A Preferred Shares? 3,205. 2 MILLION Series A Preferred Shares x 3,205 = 6.41 BILLION votes, more than the 5 BILLION common shares which gets 1 vote each.
LMAO!!! HMNY was prepared for this battle long before it started. They're doing everything in their power to limit cash burn, to buy time, including questionable tactics. My calculations show when they actually implement $14.95 *AND* if they can maintain a lowered cost (i.e. limit viewings to 10 a month, or 3 times a week so if you missed 3 weeks in a row, you can only go 3 more times as opposed to 7 days for the remaining week), they can break even and at least stop ATM dilution. That means less stock selling pressure and Triton can no longer achieve its goals of a takeover.
How this relates to the light's wave-particle duality is that the more Triton pumps this, the more bagholders will want to buy, hoping that something actually works out, thus PREVENTING the demise of the stock price, thus ALLOWING HMNY to survive by having to dump less shares, thus enabling the stock price to go higher, thus preventing HMNY from further dumping more shares since they have to dump less shares LOL. It's exactly the opposite of what Triton's goals are! But hey, maybe that was the point all along? What if Triton and HMNY were in cahoots together and this is just simply for HMNY to buy time? Or maybe they knew they couldn't actually takeover HMNY or MoviePass and was just using this PR in order to do a pump and dump and get out of some stuck position or make some money? The VERY ACT of attempting to stir news about a buyout is what ironically could lead to the buyout never happening. HMNY is then free to continue its mass destruction of generations and generations of longs. LOL you guys are funny.
And finally, Ted Farnsworth's history of wiping out 99%+ of shareholders and companies he's been with suggests to us he has no problem with seeing MoviePass and HMNY burn if he can't have it all. He's even boasted about never selling stocks of companies that failed. Ted. Simply. Does. Not. Care.
As many wise people before us have said: "If you think the cost of education is expensive, try the cost of ignorance". Do a little due diligence.
LOL 100% PROOF HMNY (Ted Farnsworth) knew all along this would fail. They saw all the warning signs and did nothing. Since Ted Farnsworth signs SEC documents and is also the CHAIRMAN of the board of directors, he would have read it all.
Here, taken directly from the 10-K annual report. Ted knew exactly what he was doing was unsustainable, yet he kept pushing it, pushing it until it all crumbled. Ted. Simply. Does. Not. Care.
They failed on pretty much everything listed here except one! A-FREAKING-MAZING. Just Amazing.
His war with AMC is what led him and shareholders down this path of death and destruction, more epic than Thanos. He'd rather see MoviePass fail under him than give it up and see it succeed and be the laughing stock of AMC
https://photos.app.goo.gl/ZRZ4bLk6Dzo19QdHA
It is an interesting predicament they are in. Too many subs and too much liability, the stock tanks from the massive loss. Too few subs (depending on the reason... which in this case is BAD as they are losing some customers FOREVER), and they have less liability/expense, yet the stock tanks as well from this negativity that it's over.
The right thing to do in the first place was Ted Farnsworth shouldn't have been dead set trying to fight a war with AMC and growing MP subs FASTER than they could handle (each time, behaving like a ponzi scheme and offering ridiculous, unsustainable low annual prices, forcing new subs to pay for 1 year in advance, only to pay for existing subs, thus creating future liability/bubble), all at the expense of the shareholder, wiping out generation after generation of longs, utterly, figuratively, and completely. This is ol' Trusty, Lyn', Pyramid-Scheming Ted the Milkman Farnsworth for ya!
He's had decades of experience with pyramid schemes, ponzi schemes, car salesman-style straight-faced lying, 99%+ shareholder destruction/abuse and "market disruption" experience that when things didn't go as planned (which his only plan was to milk shareholders dry to accomplish his goals), he simply fell back to his old habits.
As a result, this stock will continue down on a death spiral unless they can control costs and stop ATM diluting. However, to control costs, they must lose MP subscribers. It's a lose-lose situation.
I've warned before: There is no rush to buy HMNY. I've been warning for months. Those who listened saved a shit ton of money. Those who didn't, well, I don't see them posting anymore. If you think dropping -99% in one week was bad, guess again. We ain't even close to being done.
The only person destroying this company is Ted Farnsworth.
The Shelf Registration (i.e. Form S-3) is the first step in announcing you're going to dilute by "preparing/placing" a set amount (i.e. $400 million or $1.2 billion) on the shelf, so that you may "take" from the shelf. Think of it literally as a shelf where you place your raw materials there if you're going to prepare yourself on a project. The shelf starts with an initial PROSPECTUS which you must detail and declare and get approved from the SEC, depending on your company size. It is a public offering in a sense, as opposed to a private offering such as the November one that was made to accredited investors, which does NOT require SEC involvement.
Once you are actually ready to dilute, you can issue a statement and I don't know if you'd need to file with the SEC again, but you'd have to create a PROSPECTUS SUPPLEMENT (i.e. Form 454(b)(5)), such as warrants to purchase shares in return for cash or an ATM Offering. A warrant to purchase shares is usually followed by an 8-K like the one dated 4-19-18.
So to recap: the $1.2 billion affirms their intent to dilute the hell out of shareholders. This means start selling because that's the first red flag warning, just like when 500 million authorized shares and the $400 million shelf offering was announced.
They haven't announced any new Form 454(b)(5)s in respect to additional warrant purchases or public offerings because there's no investors who trusts Ted Farnsworth with the horrifying record speed at which the stock is tanking. Also, they have not announced another ATM dilution because the $150 million ATM one from this spring is still in effect. Their Form 454(b)(5) dated 7-10-18 states that as of July 10, they had $92.8 million remaining of the $150 million ATM to use. I calculate they've sold approximately $30.7 million in ATM funds beginning on July 11, leaving $60.1 million remaining as of August 6 of the $150 maximum ATM Offering from April.
ATM Dilution Breakdown of my estimation:
May (starting on or around May 9/10 if I recall - two different SEC filings have a contradiction): $23.92 million
June: $31.53 million
July: $30.37 million
August: $4.08 million
Last post of the day before reset in a few hours LOL
The stock is down -99.99992794647452% from the all time high LMAO!!!! This is the WORST slaughter of misguided longs, probably in the history of the stock market. How are any shorts panicking????? Please explain your logic. You sound like Baghdad Bob, new spokesman for HMNY:
https://photos.app.goo.gl/Wp5vKPuCozebWYDZ9
The stock is trading at 0.00028, pre-split. Unless the company starts pumping something tangible, there's a really good chance it'll hit 0.000004, pre-split or 0.001, post-split before August is over LOL.
In all seriousness, I hope you don't lose all your money like generation after generation of longs :(
That was before Ted Farnsworth showed his true intentions: Milk the hell out of shareholders and wipe out generation after generation of shareholders. He's done a terrific job at that as you can see.
Yes, I emailed my subs when this puppy was $3 last year and rode it myself from $5 all the way to $30+ and sold out during that one Thursday bloodbath in October. You can see my post history. Once I saw the 10-K annual report and realize what Ted's intentions really were, I started warning my subs and peeps everywhere who would listen. Some people listened and saved a lot of money and heartache. Some did not. The rest, as they say, is history.
There's a reason Ted and his gang increased the initial 2 billion authorized share proposal to 5 billion shares:
1. Ensure he can continue to dilute the hell out of shareholders WHEN (not IF) this stock ends up on the OTC markets.
2. Ensure that if a hostile takeover, or tender offer does occur, they can dilute the heck out of the stock. The only thing that might go against him now is the stock price has tanked so much and they continue to need money so they ATM dilute the stock, only to see it tank further and need more shares to fund their existence.
However, the "cost-savings" tactics they're using now, which will undoubtly reduce MP subscriber count down into the sub 2 million mark or even lower, is to attempt lowering the expense of the company from sheer usage alone, as well as restrict users from seeing movies, thus reducing more cost. They've surely calculated this tactic in case of a tender offer.
Here, since you obviously did not read the SEC filings, I will give it to you. Form 424B5 dated 7-10-2018, page 11 states:
"Anti-Takeover Effects of Certain Provisions of Delaware Law and Our Charter Documents
The following is a summary of our certificate of incorporation and our bylaws. This summary does not purport to be complete and is qualified in its entirety by reference to our certificate of incorporation and bylaws. Our certificate of incorporation states that we expressly elect not to be governed by Section 203 of the General Corporation Law of the State of Delaware.
Our charter documents include provisions that may have the effect of discouraging, delaying or preventing a change in control or an unsolicited acquisition proposal that a stockholder might consider favorable, including a proposal that might result in the payment of a premium over the market price for the shares held by our stockholders. These provisions are summarized in the following paragraphs.
Effects of authorized but unissued common stock and blank check preferred stock. One of the effects of the existence of authorized but unissued common stock and undesignated preferred stock may be to enable our board of directors to make more difficult or to discourage an attempt to obtain control of our company by means of a merger, tender offer, proxy contest or otherwise, and thereby to protect the continuity of management. If, in the due exercise of its fiduciary obligations, the board of directors were to determine that a takeover proposal was not in our best interest, such shares could be issued by the board of directors without stockholder approval in one or more transactions that might prevent or render more difficult or costly the completion of the takeover transaction by diluting the voting or other rights of the proposed acquirer or insurgent stockholder group, by putting a substantial voting block in institutional or other hands that might undertake to support the position of the incumbent board of directors, by effecting an acquisition that might complicate or preclude the takeover, or otherwise."
Right now I calculate the outstanding common stock to be around 31.7 million shares. They still have 4.968.3 billion authorized but unissued (minus any meant for reserved reasons) to protect them from said tender offer.
Perhaps a few more weeks, the takeover might get lucky when they run out of authorized but unissued shares and have increased the outstanding shares to over 3+ billion. Lucky for you and the attempt to do this tender offer, I've showed that if the stock keeps tanking on average -50% per day over the next 2 weeks, they should be close to about 4 billion outstanding shares. However, Ted Farnsworth and MoviePass appears to be doing everything in their power, legal or illegal, to reduce cost, including paid pumpers it seems. And I have to add, IF they can keep costs down and WHEN/IF they actually incorporate the $14.95 fee, my calculations show they will need to dilute A LOT less.
Your only hope for a hostile takeover or tender offer is for the stock to continue to plummet, fast.
EDIT: Don't forget, these clowns have the ability to do a blank check preferred stock issue too. They still have 1,979,500 Series A Preferred Shares they can issue to themselves. There's a 3,205 voting multiplier on the Preferred Shares for a reason...
Have you read the SEC filings yet? There's a clause that says if there's a hostile takeover, massive dilution will happen to prevent said party from being majority shareholder.
I pointed it out awhile back, but it was ignored like all my warnings.
Ted is the Chairmain of the board of directors AND the CEO.
And you missed my point. Ted will say no. That's his character. He does not care. He considers himself an entrepreneur and will not sell even if he has to watch MoviePass burn. Again, Ted will say no. Ted does not care.
If you do not know Ted Farnsworth, allow me to explain.
Ted Farnsworth is known for destroying literally EVERY company he's ever started or worked for. He has been "disrupting markets" for decades with pyramid schemes, leaving a trail of destruction along the way. He has a trail of lawsuits, with courts ordering judgements against him for not paying people. I have not heard of one successful company after he's done with it. He has boasted himself that he's NEVER sold any of the stock and just ran off. He just let them fail without selling his stock. In other words, he would rather see MP go down in flames than have to sell it off to someone else than to see it be successful, proving him a complete failure. No. He will let MoviePass die off before that happens. That's good ol' Trusty Ted for ya.
Here's a video of Ted Farnsworth's real character:
The same: The stock keeps going down from ATM dilution. Since no big investor trusts Ted anymore, no one's willing to do any funding except Hudson Bay, who requires A LOT from HMNY. The last dealings they made with HMNY, they made off like bandits with the 24% and 36% interest rates. Before that, they made off with 20,500 Series A Preferred Shares, which they used in the votes to vote for the R/S.
Bottom line: Their expenses are too much, and HMNY has no source of funding other than to ATM dilute. Each time they dilute, the stock price goes down. The next time they need to dilute (usually everyday), because the stock price is already down, they have to dilute 20-60% MORE shares (depending on the price drop). This causes the stock price to further go down. It's a vicious positive feedback loop that leads to a death spiral.
I calculate they will be out of shares to dilute in about 2-3 weeks at this rate. I've noticed a lot of paid pumpers are posting on all forums, trying to cause distraction and real discussion of what's going on, pumping various things like buyouts or this or that.
Fact: They need more money than they bring in and will continue to dilute. The stock price will continue to tank.
Well, the very first one on July 26th was because they literally were just out of money. The ones after that, they intentionally programmed their app to do.
I created an Excel expense report with stock ATM dilution that showed step by step what they were doing, and why. It basically showed that as big movie hits were released, they started doing massive ATM dilution (i.e. hundreds of millions of shares).
Then as the big movie hits kept getting released over the summer, they eventually ran out of money and then had to beg Hudson Bay for an unfavorable loan of about 25-36% short term interest. Their intention was to get ready for the Mission Impossible release, but since they were dead out of money, even with a $5 million loan, they decided to simply "fix the glitch" by not even showing Mission Impossible in the list. It was completely missing. You had to manually search for it, just to find that it said "this premium show is not available" or something dumb like that.
Then a few days later, they came out with that SEC filing on 7-31-18 saying they will restrict blockbuster movies.
If you read online, you'll hear people complain about seeing a movie available, driving there and then that movie is no longer available and they have to pay out of pocket. Lots of people are cancelling. I've cancelled mines, and when my monthly cycle period is over, I won't be able to see what they're doing on the app anymore.
They're out of funds usually around the evening of each night so they block everything, depending on timezone. It used to be that after east coast used up the money, west coast got zero, nada, zilch. Basically what they do is have a budget for the day and when that's used up, they "turn off the app". They show just about 1 set of time from 1 movie theater, maybe 2 viewings per theater sometimes, but mostly 1. So they might choose 1 of the usually 3 or 4 movie theaters you might see (i.e. they BLOCK/remove nearby movie theaters in an attempt to discourage you from not going) and only show 1 single movie at 1 single time for the day, such as 6:30 pm, or 7:45 pm or whatever. Once that's done, that's it. It doesn't show anything anymore.
Before today, they showed times only at 10:30 pm and ridiculous times like that to prevent people from going, on weeknights. They intentionally prevent people from going to "save 60%" as they said. I installed a GPS spoofer app and checked out various locations across the country and it's all the same. They're showing like 1 single time from almost all movie theaters (the ones they're not hiding from the app). In fact, before they were hiding local theaters and only showing ones that were like 10+ miles away.
So check this out, from their SEC filing that I've highlighted (taken from the SEC filing in the second link). It basically summarizes to:
1. We'll charge you MORE ($14.95) and give you LESS movies. In fact, we will "limit ticket availability to Blockbuster films" (i.e. prevent you from seeing good movies). We'll start with Mission Impossible 6.
3. Instead, we'll "ENHANCE" your "discovery" by forcing you to go see low budget, weirdo movies instead.
4. To add insult to injury, we'll charge you extra with "Peak Pricing" (and others have confirmed after being charged, there were barely anyone in the theater)
5. Finally, "we account for 20-45% of national box office." Hmmm so is it 20%? Or is it 45%????? But guess what? NOT ANYMORE! Not after you restrict all your subs so that you don't have to pay for what they've paid for. How the hell are they going to be accounting for 20-45% of national box office when they can't even see movies anymore????????
6. We did this to save money. In fact, we're so proud that we're "currently cutting the monthly burn by 60%" using these fraud tactics when we advertise any movie, any day. If we offer a SINGLE time frame, it's your fault you can't make it, even when it's at 11 pm at night, on a Weds.
As you can see, this puppy is not only going down in stock price, MP subs are leaving in epic droves.
https://photos.app.goo.gl/PnPjECPmgwcCNfPLA
https://www.sec.gov/Archives/edgar/data/1040792/000121390018009929/f8k073118ex99-_helios.htm
It's not until sometime in December. Although I'm not sure what Nasdaq's other listing requirements are when something tanks this bad. I have never seen any carnage on this epic level before.
I mean FRIGGEN WOW! Down -99.99992794647452% from the all time high LOL!!!!!!!!!!!!!!!!!!!!! And pumpers still say shorts are scared lololol
To put it into perspective, if you placed 0.00028, which is today's close pre-split, into a tax deferred account and let it sit in the following types of accounts, this is how long it would take to get back to the all time high:
1. S&P 500 at 10% annual returns on average: Over 124 years
2. Some magical fund that does 15% on average annually: 84 years
3. Warren Buffet suddenly is in his 30s again and able to grow your money at 25% annually: 53 years
Just wow LOL. And the best part? It's going much lower, like another -99% per my calculation.
Last post of the day: TIMMBEERR!!!!
Next time, learn some chart reading peeps. It's THE most important skill you'll ever learn. They'll run out of shares to dilute in 2 weeks at this rate LOL.
But, please don't everyone all sell at once. I still need to use my MP card before the cancellation period is over, assuming I'll ever be able to...
Remember, NEVER bag hold. Trade only. The word of the day again is: Opportunity Cost.
Ciao!
After Ted Farnsworth and Mitch Lowe saw my tweet last night about them running out of shares to dilute in a week+, they must have asked Canaccord to up the sell limit just a little LOL.
No matter, they have no other sources of funding other than to ATM dilute. They'll either need to borrow from Hudson Bay again, at 25%+ interest rates, which is worse and the stock tanks, or they need to do ATM dilution.
Alternatively, they could sell more Series A Preferred shares to Hudson Bay at $1,000 per share, but that means Hudson Bay would own their other right nut. Or, they could just restrict everyone access to movies and just pretent it's another "outage". That's a way to save money and not have to dilute, but they're already in deep trouble as it is with "false advertisements" where they promise X services but do not deliver.
The chart trend is still down. Lower highs, lower lows. That's a red warning flag.
https://photos.app.goo.gl/YXpJZkdUsT5MKesX6
See the chart above.
UPDATE: OUCH!!! Here comes the tankage lol. Don't everyone all sell at once. Canaccord needs to sell too.
UPDATED chart: Bearish descending triangle forming. If support at 10 cents break, it's over. It did a 50% retrace bounce and then... it's over
https://photos.app.goo.gl/nEXiV5FS7vcZBRze6
This is called filling the gap. MoviePass needs more money for the weekends so the dumping should be harder on Fridays. The trend is till down. Lots of longs will be trapped here who don't sell out. Lots of people were trapped yesterday and are still trapped. They're the resistance around the 13-14 cents level who'll sell off. You bet Canaccord will get in on the action too.
https://photos.app.goo.gl/AWHJ6nTRqoAvi2Dw8
The chart says it all. The facts: MoviePass spends more money on weekends. Don't let this little technical bounce fool you. The trend is down. Remember, trend is like climate? Daily fluctuations are like daily weather, which goes up and down. Climate/trend means it'll keep tanking the more Canaccord dumps because:
HMNY has no other source of funding other than ATM dilution.
It's based on their financial need. That's how I was able to calculate HMNY outstanding shares in middle June to be 218 million and they reported 219+ million days later. Look at my post history.
Also, check out the numbers. If you add:
1.685 M shares
200K @ $12 average selling price(estimated - it's the only value that makes sense because they ran out of cash) on 7/27
4.802 M @ $1.30 average selling priceshares (SEC filing confirms total 6.69 M as of 7/31 - I simply did the math backwards to calculate this, which matches how they could REPAY Hudson Bay)
4 M @ $0.36 average selling price (estimated based on the dumping volume & price shortly after - to meet their daily financial needs) on 8/1
6 M @ $0.175 average selling price (again, estimated based on yesterday's charts and volume near open)
=================
Total is: 16,687,647 shares outstanding estimated so far as of yesterday, 8/2.
But, my calculations show if the stock keeps dropping -50% on average for the next 2 weeks, they will run out of the 5 BILLION shares real soon.
https://photos.app.goo.gl/wFLdybpPrLdYGmvy8
See link above
No, but I also haven't factored in all the Costco full refunds coming, as well as all the chargebacks from credit cards and banks from the hundreds of thousands or more who's canceled and will cancel. MoviePass has no choice but to continue restricting the services (i.e. false advertisement).
It's going to attract a lot of state attorneys. That's going to hurt.
I've been spot on. Read my post history :)
I predicted almost everything that happened.
Actually it did bounce as the market opened. Went to like 60 cents, but Canaccord dumped, just like I noted in my other post on how the trading action works. Canaccord dumps first before the stock price can go down.
When Ted Farnsworth quits or gets fired. We still need to see how many subs have quit over the recent service disruptions. Many subs are angry everywhere. You can read them on various places.
So, earlier, I had this epiphany...
Since the stock price kept dropping about -50% per day for the past week, I thought to myself what if this just keeps going and going? I know that it scared the hell out of HMNY on the first day of the dropped. I suspect they stopped ATM selling on the second day, which led to them running out of cash.
Anyways, the epiphany is that although we had assumed they may use up all 5 billion shares in a few months or so, if the stock price keeps getting decimated, we'll see this within about 2 weeks, give or take.
Anyways, I've done the calculations, projecting what'll happen if the stock price keeps dropping about -50% the next 2 weeks.
Here it is:
https://photos.app.goo.gl/wFLdybpPrLdYGmvy8
The price is based on Canaccord dumping shortly after open. Here is what I believe is happening with the price action:
1. Canaccord dumps at the beginning of the day. HMNY still needs $1-1.5 million per day to pay for everything (now that they're restricting MP subs), which equates to about 6-10 million shares they need to dump at around 15 cents average. The problem is this number goes up everyday as the stock price tanks. Exponential dilution will hurt longs who believe "If I don't sell, I won't lose".
2. Day traders swoop in as the price drops and trades on 5% +/- swings, back and forth, with tight stop losses...
3. Near the end of the day, day traders exit their positions and the stock price tanks. That's how we're getting so much volume.
4. Other more gutsy traders jump in near the close and the smart ones sell in AH on the 5-10% pop in AH.
5. The cycle repeats itself. OUCH!
8.5 cents should hit tomorrow (NOT Monday at this rate). LOL
I calculate it to be 16.7 million outstanding shares as of today. See my other post showing how the end has cometh.
Read through my post first. You have been warned.
My images were done on a 1080p computer monitor, and it's on Google images so you'd have to expand it to max your screen (whatever device you're using), and tap on the image to see the full screen. I've had people tell me on a phone, it works fine. Not sure what device you're using. If it doesn't work, I can list StockTwits link.
Until Canaccord unleashes massive shares :(
(last post of the day). Have fun guys. Gotta go.
The problem is HMNY is also shady. One of the founders in India didn't pay creditors, and was ordered to pay and shut down/liquidate. Then, HMNY in the U.S. makes this guy an adviser and pays him $200K+ a year because of his "long time experience". Emmett/Oasis is also shady. They are also in a lawsuit for spending millions of a director's money and not paying him for his service.
You have a bunch of crooks basically just working together.
WORST ADVICE EVER. Those who held from the reverse split who had less than 250 shares have ZERO shares now.
Those who had thousands of shares before now only have a few dozen after the reverse split.
While I already explained why a reverse split won't happen anytime soon, when it DOES happen, you will be completely wiped out like other shareholders. You are not special.
Additionally, the resistance and support lines I pointed out, in addition to MP losing precious subs, AND in addition to the massive dilution which lowers the intrinsic value means you'll NEVER get to see your share price you bought it at, again. Ever. Nada. Forever.
The BETTER ADVICE would be to: Sell for a loss and trade elsewhere. There's something called opportunity cost. You could be making 50% on another stock with good news, playing on momentum. Or you can continue to see your investment tank -50% a day. Your choice.
Opportunity Cost. That's the word of the day.
Let's be clear about this. There'll be bounces here and there, but the trend, which is more important, is down. Bounces/daily movements are like daily weather forecast. It goes up and down. Trend is like climate (i.e. global warming). Trend will be down for the foreseeable future unless:
1. Ted Farnsworth steps down as CEO or gets fired.
2. MoviePass loses enough subscribers from their fraud-like behavior of continuing to take subs' money but not allowing them to see movies. When enough quits, the expense will go down dramatically. We won't know until we see an official confirmation of how many subs there are now and SEC filings stating "monthly deficits".
The only wildcard is MoviePass Films (the 51% acquisition of Emmett/Oasis), which Ted has NEVER disclosed other than it'll be a combination of cash and stocks. The fact is Emmett/Oasis makes A LOT of money-losing films (i.e. loses single to double digit millions) PER year, and 1-2 good ones that do $50+ million profit every few years. We don't know how much money is being wasted on this project. That's why cancelling this merger would be a bonus to the stock price in my mind.
HMNY has to keep selling millions of shares per day, more and more as the price stock drops, in order to keep funding these money-losing schemes.
I second what Clay is saying. Anyone who says charts mean nothing or charts are voodoo doesn't know what they're saying. Charts represent everyone and their mom's transactions. It's like looking at GPS traffic maps. You can tell what's happened, what's happening and what might happen (i.e. where the cars will be going next). It's not a 100% predictor, but sometimes it's the only one.
Charts can show resistance and support lines, which if a support line breaks down, it then later becomes a resistance line as the stock price moves back up. That's why HMNY has never gone back up. Each time support lines broke (longs sold while other longs become bagholders), and when the stock price drops and then comes back up to that same support line, that line has now turned into a resistance line as trapped bagholders attempt to all sell out.
Reading charts is the MOST important thing you can learn. THE most. Charts can be used to predict movements of not just day trading but days, weeks and even months out.
You bet. Yeah, after I put it together and looked at it from a high level, it was an ahah! moment because it explained all their actions, date by date, down to their borrowing of money, down to the ATM dilution on specific days. I went over the daily volume to identify which days they may have sold too. Fact definitely can be stranger than fiction.
And due to Nasdaq Listing Requirements, they can't even do another reverse split to remain on the Nasdaq unless they time it just right. They'd need the perfect price, at the perfect hundreds of millions or billions of shares to effect a specific reverse split. And even then, there's no guarantee it won't come crashing back down unless they get their expenses under control. I think this one will be delisting in the near future.
I put this together to explain what was going on. The massive dilution started as they were running out of cash in June, as Incredibles 2 and Jurassic World came out. That's when they didn't have enough money DESPITE the ATM dilution, so they had to sell 20,500 Series A Preferred shares to Hudson Bay, who was the only toxic financing company left willing to deal with them.
They then did MASSIVE ATM dumping of 1.52 million shares between July 11 and July 24 but NEVER disclosed it except that they said after the 1 for 250 reverse split, the number would be 1.685 million shares. I did the math backwards to confirm that means the outstanding shares had grown from 268.75 million to a whopping 421.25 million between July 11 and July 24 alone! LOL
Then, after the reverse split, they freaked out because the price tanked so fast that they only sold a few hundred thousand shares at around $12, just last week. That's when they had to borrow money again from Hudson Bay because Mission Impossible was coming out that weekend. But, then they simply "fixed the glitch" by removing MI completely from the movie list from their app. Easy solution eh? Just remove the movie so people can't watch LOL. Crooks I tell you.
So now they have no choice but to continue diluting millions of shares per day, exponentially as the stock price drops.
If Ted Farnsworth quits or is fired, I bet you there's a 1,000% rally as short term shorts cover and traders jump in.
https://photos.app.goo.gl/DTh2uGVobo5eppwd6
They have no choice except to keep dumping millions of shares. The lower the price, the more shares they dump. What started as around 9 million shares this time last year in August, 2017, has now grown to about 1.7-1.8 BILLION shares accounting for the split. Such epic fail and sadness seeing so many people lose money because of Ted Farnsworth's sins.
That's why they're still stealing MP sub money but not allowing them to see movies. Crooks. His other side jobs are money-sucking schemes. He had planned on milking HMNY shareholders dry to play with them too. Now he's in a world of trouble. Any legit CEO would have already stepped down, which that in it of itself would have shot the stock up 1,000% alone. But he's selfish, greedy and a conman so he won't.