HMNY H&M parent of MoviePass seeks R/S & 4x shares from 500M to 2Bln
True OTC penny stock behavior in a Nasdaq play. At least they've kissed the death rather than hang fire like a SNAP.
Odds they pick the high side 1-250? I mean really, 1-2 to 1-250 lol
MoviePass Parent Stock Plunges on Stock Issuance, Potential Reverse Split -- Market Talk
Today 7:08 PM ET (Dow Jones)Print
1855 EDT [Dow Jones] -- Shares in Helios & Matheson Analytics Inc. fell 31% in after-hours trading after the parent company of MoviePass said it would hold a special shareholder meeting in July to quadruple its number of shares to 2 billion from 500 million. The company said it needed the additional shares in part to issue to a financier as part of a transaction that could bring it up to $35 million in much-needed capital. Helios is also asking shareholders to authorize a reverse stock split at a ratio of between 1-to-2 and 1-to-250. Its shares have been trading below $1 since May 9 and could be delisted from the Nasdaq under a rule requiring that traded stocks be worth more than $1 each. Helios shares closed up 27% at 45 cents Tuesday before a regulatory filing about the special meeting was made public. (ben.fritz@wsj.com)
(END) Dow Jones Newswires
June 19, 2018 19:08 ET (23:08 GMT)
The greatest deception men suffer is from their own opinions.
~ Leonardo da Vinci
