cwilkins88 wrote:Source of the post That Thing We All Kind of Knew Would Happen to MoviePass Might Be Happening
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According to Bloomberg, MoviePass’ parent company Helios & Matheson reported in a Tuesday filing that it’s down to just $15.5 million in cash as of the end of April—at a time when it’s burning through around $21.7 million a month. The company has about $27.9 million more on deposit with merchant processors, but that lifeline can only go on so long. Investors appear to be seriously spooked, Bloomberg added, with shares of the company crashing by 32 percent.
So 2 months until they are in the red