Helios and Matheson responded to Business Insider that those reported numbers were incorrect, but didn't provide any further details. The rate of subscriber decline appears to be slowing a bit, but MoviePass could still end up with under 100,000 subscribers by late 2019.Ī Business Insider report from April mentioned that MoviePass was down to 225,000 subscribers and that the MoviePass Uncapped program had only signed up 13,000 subscribers. The amount of new users signing up for MoviePass is pretty negligible, with its iPhone app ranking (for the Free Entertainment category) often barely holding on to the Top 1000. This also means that AMC's Stubs A-List program has more subscribers than MoviePass now. This would put it at below the number of subscribers it had in October 2017. My estimate is that MoviePass's subscriber base averaged around 600,000 during Q1 2019, and that it likely exited the quarter with significantly under 500,000 subscribers remaining. It did note that revenues were approximately $17.8 million in Q1 2019, indicating that MoviePass's subscriber base has continued to plummet. Helios and Matheson hasn't filed its 10-K for 2018 or its 10-Q for Q1 2019 yet. Revenues And Subscribers Continue To Plummet A reverse split of 1 share for 1,000 shares would reduce this to around 3 million common shares outstanding. The company also indicated that it had roughly 3 billion common shares outstanding as of early April. A reverse split of 1 share for 1,000 shares would increase its share price to around $2.40 per new share if it maintains its most recent market capitalisation amount. With Helios and Matheson's stock trading at a minimal price now, I'd expect it to implement the maximum reverse split. However, the votes from the Series A and Series B preferred stockholders helped the reverse split proposal pass. It appears that a slight majority of the roughly 2 billion common shares outstanding as of the late March record date voted against allowing a reverse split. Helios and Matheson's shareholders voted to allow a reverse split of its common stock at a ratio of between 1 share for 2 shares and 1 share for 1,000 shares. As Sinemia's shutdown indicates, it is quite hard to make a movie subscription business work when the company is paying full-price (or near full-price) for tickets and doesn't have a substantial additional revenue stream such as concession sales. Helios and Matheson's main product (MoviePass) continues to see its subscriber base shrink though. This will likely greatly reduce its share count (which had reached over 3 billion) and should get its stock to above $2 again, at least temporarily. If you are good with personal finance and are looking to invest, you will find the Helios and Matheson Analytics on OTC MARKETS stock exchange.Helios and Matheson ( OTC:HMNY) looks set to do another reverse split after gaining approval for it at a recent special meeting. Trading in bull markets is always easier so you might want to favor these shares under the given circumstances, but always read up on optimal investment strategies if you are new to investing. Since this share has a positive outlook we recommend it as a part in your portfolio. Our Ai stock analyst implies that there will be a positive trend in the future and the HMNY shares might be good for investing for making money. Currently there seems to be a trend where stocks in the Technology Professional, Scientific, and Technical Services sector(s) are constant in demand. According to present data Helios and Matheson Analytics's HMNY shares have held its price during the last 12 months (if exists). Recommendations: Buy or sell Helios and Matheson Analytics stock? Wall Street Stock Market & Finance report, prediction for the future: You'll find the Helios and Matheson Analytics share forecasts, stock quote and buy / sell signals below. Helios and Matheson Analytics Inc ( HMNY) Real Estate and Housing Market Forecast.
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