MoviePass has less than two months left before it runs out of cash — and its latest changes won’t save it (HMNY)
|08/15/2018||Posted by BusinessMediaguide.Com under General World News||
- MoviePass’ parent company, Helios and Matheson, has less than two months of cash left at the rate it was burning through its funds in the second quarter.
- Even if it was able to reduce its burn rate as much as executives have stated, it still would have less than a month’s worth of cash.
- When it’s run low on funds in the past, Helios and Matheson has repeatedly issued and sold new shares to raise cash.
- But that tactic may be coming to an end; it already increased its share count by more than 9,000% in the last two weeks, and its read more >>>