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MoviePass owner Helios and Matheson announces reverse stock split, taking it to US$21 from US$0.09

Helios and Matheson Analytics, parent company of MoviePass, CEO Ted Farnsworth (Nasdaq: HMNY) in an exclusive interview, tells Proactive Investors' Christine Corrado the company is going ahead with a a reverse stock split, taking it to US$21 from US$0.09, to avoid being delisted by Nasdaq.

Farnsworth says MoviePass is currently at a little over 3 million subscribers, and says the company is 'well on target' to hit 5 million subscribers by the end of the year.

The company has seen its shares fall from a high of $38 in October 2017, as investors' worries of the company's cash burn took its toll.

Quick facts: Helios and Matheson Analytics Inc

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NASDAQ:HMNY
Market: NASDAQ
Market Cap: -
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Helios and Matheson Analytics CEO deems new MoviePass Uncapped a success

Helios and Matheson Analytics Inc (OTCMKTS:HMNY) CEO Ted Farnsworth tells Proactive Investors the parent of soon-to-be spun-out subsidiary MoviePass Entertainment Holdings Inc has launched a "Movie Pass 2.0" unlimited $9.95 plan, aptly called MoviePass Uncapped. Farnsworth says the launch...

on 03/21/2019

2 min read