HSX Forum

Movies

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? 





Post a Reply

To post to the forums you must first login!


Buy Max    Sell All    Short Max    Cover All    Radar

The Odyssey (ODYSE) 20000 429.07 (-0.66)          The Musical (MSCAL) 150000 1.00 (0.00)          Company (COMPN) 150000 8.00 (0.00)          Everybody Wants to F*ck Me (EWTFM) 1 7.00 (-0.01)          Ice Cream Man - Opening Weekend (ICREM.OW) 100000 4.53 (-0.54)          Your Mother Your Mother Your Mot (YOURM) 25000 6.87 (+2.71)          Your Mother Your Mother Your Mot (YOURM) 25000 6.87 (+2.71)          Coward (COWRD) 150000 1.28 (-0.01)          Zero A.D.: The Birth of Christ (BTLHM) 25000 33.31 (+1.15)          California Schemin' (CASHM) 150000 0.89 (0.00)          Zero A.D.: The Birth of Christ (BTLHM) 25000 33.31 (+1.15)          Ice Cream Man (ICREM) 15000 10.10 (-2.19)          The Musical (MSCAL) 150000 1.00 (0.00)          Company (COMPN) 150000 8.00 (0.00)          Rose of Nevada (ROSNV) 150000 0.39 (0.00)          The Haunting of Hotel Transylvan (HTRN5) 5000 81.99 (+6.15)          Tony (TONY) 100000 16.96 (+0.17)          F.A.S.T. (FAST) 150000 45.15 (+1.55)          The Island (ISLAN) 150000 0.28 (-0.02)          Company (COMPN) 150000 8.00 (0.00)          Riddick: Furya (RIDC3) 150000 2.64 (-0.02)          Moana - $115M Blockbuster Warran (MOAN1.BW) 25000 5.65 (+0.65)          Mega Man (MGAMN) 150000 0.07 (+0.01)          Gladys aka Weapons prequel (WEPN2) 55555 78.02 (+0.70)          Blade (BLAD1) 150000 16.24 (-0.15)          Minions & Monsters $155M Blo (MNIO3.BW) 25000 10.60 (+0.58)          F.A.S.T. (FAST) 69985 45.15 (+1.55)          Moana - $115M Blockbuster Warran (MOAN1.BW) 25000 5.65 (+0.65)          One Night Only H$10 Put (ONTON.PU) 25000 2.77 (+0.06)          Marisa Tomei (MTOME) 25000 151.18 (0.00)          Marisa Tomei (MTOME) 25000 151.18 (0.00)          Dead by Daylight (DBDLT) 150000 21.40 (-0.06)          The Princess Diaries 3 (PDIA3) 135422 36.34 (+0.02)          Not Alone (NTALN) 150000 115.64 (+2.42)          Company (COMPN) 150000 8.00 (0.00)          Teenage Mutant Ninja Turtles: Mu (TMNT4) 150000 78.96 (-0.01)          Shiver (SHVER) 150000 94.60 (0.00)          Nobody’s Heart (NOBDH) 150000 0.04 (+0.01)          The Odyssey (ODYSE) 10000 429.07 (-0.66)          A Quiet Place: Part III (AQPL4) 150000 123.40 (+1.20)          Bluey the Movie (BLUEY) 49953 147.49 (+0.68)          Oceans (OCEN5) 150000 57.29 (-0.30)          The Resurrection of the Christ (RESUR) 150000 173.60 (-0.36)          Tramell Tillman (TTILL) 25000 152.56 (+1.50)          Hexed (HEXED) 150000 121.72 (+0.52)          Ebenezer (EBNZR) 150000 102.78 (-0.49)          Queen at Sea (QUASE) 150000 0.63 (-0.06)          Tuner (TUNER) 150000 4.58 (+0.02)          Tony (TONY) 150000 16.96 (+0.17)          Super Troopers 3 - Opening Weeke (STRO3.OW) 100000 12.80 (-0.25)