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Lessons From The 99.9% Drop In MoviePass (Seeking Alpha link)

Posted by: stormgod on Aug 01, 20:50

https://seekingalpha.com/article/4192962-lessons-99_9-percent-drop-moviepass

Why There May Still Be Further Downside

HMNY revealed that on Thursday last week, subscribers experienced an outage in service due to MoviePass being unable to pay merchant and fulfillment processors. HMNY then revealed in a SEC filing that they took an emergency loan from Hudson Bay Master Fund to the total of $6.2 million at a $1.2 million discount. This implies a near 20% interest rate for what looks like a very short term loan. This appears to have solved the outage issues, for now, but this now raises a new question: are they unable to raise enough cash through their at the market program?Ā 





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Thanksgiving 2 (THNK2) 150000 19.30 (-0.70)          The Accountant 2 (ACTN2) 1 23.84 (-0.02)          Thanksgiving 2 (THNK2) 1 19.30 (-0.70)          Thanksgiving 2 (THNK2) 150000 19.30 (-0.70)          Atlantis (ATLNT) 150000 20.88 (+1.18)          The Accountant 2 (ACTN2) 498 23.84 (-0.02)          Weekend in Taipei (WKNTP) 1 14.27 (-0.21)          Megalopolis (MEGAL) 3 23.56 (+0.12)          Challengers (CHALN) 10 28.93 (0.00)          Not Another Church Movie (NACM) 150000 10.31 (+0.35)          Thanksgiving 2 (THNK2) 1 19.30 (-0.70)          Here (HERE1) 1 43.78 (0.00)          Here (HERE1) 2 43.78 (0.00)          Megalopolis (MEGAL) 1 23.56 (+0.12)          Abigail (ABGAL) 500 60.01 (-0.23)          Megalopolis (MEGAL) 150000 23.56 (+0.12)          Megalopolis (MEGAL) 150000 23.56 (+0.12)          Thanksgiving 2 (THNK2) 150000 19.30 (-0.70)          Thanksgiving 2 (THNK2) 150000 19.30 (-0.70)          A Complete Unknown aka Going Ele (GOELC) 150000 17.54 (+0.46)          A Complete Unknown aka Going Ele (GOELC) 150000 17.54 (+0.46)          Little Shop of Horrors (LSOFH) 150000 6.49 (+0.59)          Little Shop of Horrors (LSOFH) 150000 6.49 (+0.59)          A Simple Favor 2 (ASFA2) 150000 17.62 (+0.91)          A Simple Favor 2 (ASFA2) 150000 17.62 (+0.91)          Atlantis (ATLNT) 150000 20.88 (+1.18)          Atlantis (ATLNT) 150000 20.88 (+1.18)          A Simple Favor 2 (ASFA2) 149999 17.62 (+0.91)          In The Land Of Saints And Sinner (ILSAS) 150000 1.75 (+0.18)          Abigail (ABGAL) 138907 60.01 (-0.23)          Not Another Church Movie (NACM) 150000 10.31 (+0.35)          Sasquatch Sunset (SQTCH) 150000 7.89 (-0.23)          The Long Game (TLNGM) 150000 6.83 (-0.05)          Don't Tell Mom the Babysitter's (DTMBD) 150000 2.48 (+0.01)          The Greatest Hits (GRTHT) 150000 1.85 (-0.02)          Knox Goes Away (KNOXG) 150000 1.71 (-0.02)          Spaceman (SPACM) 150000 0.17 (-0.02)          Sleeping Dogs (SDOGS) 150000 1.53 (-0.02)          Godzilla x Kong: The New Empire (KONG2.OW) 100000 59.07 (+0.72)          Godzilla x Kong: The New Empire (KONG2.CA) 25000 3.01 (+0.14)          Ghostbusters: Frozen Empire (GHST5) 130079 113.62 (+0.28)          SNL 1975 aka The Wolverines (SNL75) 62845 27.86 (-0.17)          Unsung Hero (UNSUN) 150000 23.10 (+0.03)          SNL 1975 aka The Wolverines (SNL75) 150000 27.86 (-0.17)          Here (HERE1) 26019 43.78 (0.00)          Thanksgiving 2 (THNK2) 150000 19.30 (-0.70)          Downtown Owl (DTOWL) 150000 2.36 (+0.01)          Wicked Little Letters (WCKLL) 150000 2.67 (+0.21)          Thanksgiving 2 (THNK2) 150000 19.30 (-0.70)          Unsung Hero (UNSUN) 149999 23.10 (+0.03)