MoviePass:
https://seekingalpha.com/symbol/HMNY

https://variety.com/2018/film/news/moviepass-ending-subscription-service-1202891561/

 

Interesting content and graphic representation. I think they need to work on something new to offer in the market since the competition is high nowadays.

 

https://uproxx.com/viral/funniest-best-tweets-moviepass-bankruptcy-out-of-business-app-down-dead/

Your grift was noble, MoviePass, but it seems your grift may be nearing its end. You lived your life like a, well, not a candle in the wind. More like a tremendous pile of money set alight in a puddle of gasoline. But money can only burn so bright for so long. You were too good for this one-legged edificeering, Tom Cruise ankle breaking, ABBA jukebox musical watching world. You will be missed. Or you’ll get another round of funding and we’ll meet again in a few months for another joke eulogy. If that’s the case, we promise we’ll act surprised. It’s the least we can do for a dear friend.

 

MoviePass:
https://seekingalpha.com/symbol/HMNY

https://variety.com/2018/film/news/moviepass-ending-subscription-service-1202891561/

Glad to say I missed this one. I've had the pleasure of watching a few investments plummet to zero and I hope I'm done with that.

 

After its reverse stock split, Helios and Matheson had just 1.7 million shares outstanding. By July 31, it had 6.7 million shares in circulation. By Monday, however, it had 636.9 million outstanding shares. That's an astounding 9,423% increase to its number of shares in less than two weeks.

In after-hours trading Tuesday, shareholders seemed to already be starting to take the new, previously unreported dilution into account. In recent exchanges, Helios and Matheson's stock was down more than a penny, or about 29%, to $0.04 a share.

https://www.businessinsider.com/helios-matheson-moviepass-cash-burn-q2-report-2018-8

 

https://nypost.com/2018/08/24/struggling-moviepass-pulls-the-plug-on-annual-subscriptions/

Until Friday’s announcement, subscribers to the $89 annual plans had been able to see a movie a day and had not been affected by the recent restrictions imposed on monthly subscribers. It announced on Aug. 23 that it was offering up to nine movies to choose from daily, whereas it told subscribers on Aug. 16 they’d be limited to six per day.

They really want to eliminate users. I would take the money and run with the prorated refund.

STOCK QUOTE
$0.02 -$0.00 (-7.9%)

 

https://www.moviepass.com/

While we were able to relaunch the service for some of our subscribers with an improved technology platform, our efforts to recapitalize the company have not been successful to date. As a result, it pains us to inform you that effective at 8 a.m. E.T. on September 14, 2019, we must interrupt service for all current MoviePass™ subscribers.

 

That's a shame. It was, to me at least, a good idea although I'm more of a homebody these days and get out for a movie only once every few years usually around the holiday season. At least they are refunding their customers which is quite surprising, to say the least.

 

That's a shame. It was, to me at least, a good idea although I'm more of a homebody these days and get out for a movie only once every few years usually around the holiday season. At least they are refunding their customers which is quite surprising, to say the least.

Losing money on every transaction but hoping to make-up the difference in volume is a brilliant way to run a business.
Getting refunds is easy at this point because there are likely to only be a few customers left when they padlock the doors.