Thread: MoviePass parent Helios and Matheson reports net losses tripled in third quarter

Originally Posted by NewsFeeder

MoviePass parent Helios and Matheson reports net losses tripled in third quarter

The beleaguered parent of MoviePass Helios and Matheson Analytics Inc. reported third-quarter results Thursday morning. The company reported a loss of $129.6 million, or a loss of 20 cents per share, compared to a loss of $43.5 million, or a loss of $5.79 per share, in the year-earlier quarter. Helios chalked up the increase in net loss to its acquisitions of MoviePass, Moviefone assets and forming MoviePass Ventures and MoviePass films. Revenue for the quarter was $81.34 million, up from $1.17 million a year ago. Shares of Helios are trading at a mere 2 cents a share, despite the company's 1-to-250 reverse stock split in July. The company proposed a second split in September of 1-for-500 shares in an effort to avoid delisting of its stock, but revealed earlier this week it did not have enough support for the plan. The spectacular rise and fall of MoviePass, its movie subscription service, has Helios & Matheson looking for ways to solve its Wall Street woes, including a plan to split off the MoviePass business into an independent entity. Helios stock has effectively lost all of its value in the year to date, while the S&P 500 has gained 0.7%.

https://finance.yahoo.com/m/868d7ee9...html?.tsrc=rss

Lying sack of dog...

Lost a good chunk of change with these idiots...