HOLLYWOOD STOCK EXCHANGE
THE ENTERTAINMENT MARKET
THE ENTERTAINMENT MARKET
Lessons From The 99.9% Drop In MoviePass (Seeking Alpha link)
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?
Lessons From The 99.9% Drop In MoviePass (Seeking Alpha link) Aug 01, 20:50
I wonder how in the world they managed to get that loan considering the extreme low probability of paying it back. {nm} Aug 01, 21:29
pre-paid annual subs too that they couldn't touch til today. whatever stock they managed to sell last week. {nm} Aug 01, 23:20
