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The owner of MoviePass owner is getting closer to zero (HMNY)


Added 05-10-18 02:14:02pm EST - “MoviePass owner Helios and Matheson is losing tons of ground for the third strait day, as its massive cash defecit and mounting concerns that MoviePass' busines” - Businessinsider.com

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Posted By TheNewsCommenter: From Businessinsider.com: “The owner of MoviePass owner is getting closer to zero”. Below is an excerpt from the article.

MoviePass owner Helios & Matheson Analytics (HMNY) tumbling again. Shares are down more than 13% on Thursday to a record low of $0.68 apiece. They have lost more than tw0-thirds of their value in the past three sessions and are 98% below their October record high of $38.86.

The recent selling comes after the company announced on Tuesday, in an 8-K filling, that it had "approximately $15.5 million in available cash and approximately $27.9 million on deposit with our merchant processors for a total of approximately $43.4 million." The company estimates that it has seen an average cash deficit of $21.7 million per month from September to April.

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