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

Marty Supreme (MRTSU) 150000 31.69 (-0.32)          Dust Bunny (DUSTB) 150000 2.94 (-0.13)          Signing Tony Raymond (SIGTR) 150000 2.00 (0.00)          Sophia Lillis (SLILL) 25000 131.68 (+0.66)          Dust Bunny (DUSTB) 150000 2.94 (-0.13)          Killing Castro (KILLC) 1 5.17 (+0.06)          Enemies (ENMES) 30000 14.24 (-0.06)          The Haunting In Wicker Park aka (TRUEH) 150000 0.01 (0.00)          Dave Bautista (DBAUT) 25000 53.76 (+0.16)          Animal Farm (AFARM) 30000 13.15 (+0.29)          Bobby Cannavale (BCANN) 25000 44.98 (+0.16)          Split Fiction (SPFIC) 150000 40.00 (0.00)          Split Fiction (SPFIC) 50000 40.00 (0.00)          Split Fiction (SPFIC) 150000 40.00 (0.00)          Signing Tony Raymond (SIGTR) 150000 2.00 (0.00)          EPiC: Elvis Presley in Concert (EPICC) 150000 13.81 (-1.19)          The Housemaid (HMAID) 150000 59.59 (+0.86)          Enemies (ENMES) 60000 14.24 (-0.06)          Signing Tony Raymond (SIGTR) 151 2.00 (0.00)          Enemies (ENMES) 30000 14.24 (-0.06)          Enemies (ENMES) 150000 14.24 (-0.06)          Eli Roth (EROTH) 20000 29.85 (-0.10)          Onslaught (ONSLT) 10001 8.96 (+0.01)          Ebenezer: A Christmas Carol (EBNZR) 216 64.22 (-0.05)          Split Fiction (SPFIC) 150000 40.00 (0.00)          Corporate Retreat (CRPRT) 150000 3.47 (-0.86)          Adria Arjona (AARJO) 25000 21.61 (+0.12)          Signing Tony Raymond (SIGTR) 150000 2.00 (0.00)          Monopoly (MONOP) 100000 11.40 (-0.06)          Split Fiction (SPFIC) 150000 40.00 (0.00)          The Thomas Crown Affair (TTCAF) 40000 35.79 (-0.04)          Full Phil (FPHIL) 150000 4.27 (+0.03)          Logan's Run (LOGAN) 150000 4.24 (+0.07)          Split Fiction (SPFIC) 150000 40.00 (0.00)          The Mandalorian and Grogu (SWAR3) 150000 252.67 (+0.74)          Lips Like Sugar (LIPLS) 150000 2.93 (+0.04)          Signing Tony Raymond (SIGTR) 150000 2.00 (0.00)          Untitled Event Film Directed by (UEFDD) 150000 52.14 (-1.53)          Ranger's Apprentice (RNGAP) 220 0.05 (0.00)          Constantine 2 (CNST2) 150000 42.72 (-0.76)          Signing Tony Raymond (SIGTR) 150000 2.00 (0.00)          Project Hail Mary (PRJHM) 150000 193.94 (+0.15)          Split Fiction (SPFIC) 50000 40.00 (0.00)          Bad Lieutenant: Tokyo (BADLT) 1 3.63 (-0.02)          Bad Lieutenant: Tokyo (BADLT) 1 3.63 (-0.02)          Animal Farm (AFARM) 150000 13.15 (+0.29)          Signing Tony Raymond (SIGTR) 150000 2.00 (0.00)          The Conjuring Prequel (CNJU5) 150000 86.93 (+3.75)          James Bond 26 (JB26) 150000 164.89 (+0.60)          Avatar: Fire and Ash (AVAT3) 149999 450.88 (-0.91)