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(L to R): MoviePass CEO Mitch Lowe, John Travolta, and Helios and Matheson CEO Ted Farnsworth

MoviePass walks back its claim to be ‘profitable’ and declines to say which investors ‘did well’ during its 99.99% stock drop

MoviePass has walked back claims by its parent company's CEO, Ted Farnsworth, that the movie-ticket subscription service is "profitable."
MoviePass CEO Mitch Lowe (left) and Helios and Matheson Analytics CEO Ted Farnsworth (right)

A passionate army of shareholders has shouldered MoviePass’ massive losses, as its leadership feeds them empty assurances

MoviePass and its parent company, Helios and Matheson Analytics, have covered massive losses by selling new shares of stock to a passionate base of retail shareholders. Helios CEO Ted Farnsworth characterized them as an "army" and stressed that he had their best interests in mind.

2 Wall Street banks made millions selling the collapsing shares of MoviePass’ parent company, as their analysts kept ‘buy’ ratings o...

As investors in MoviePass' parent company — the Nasdaq-listed Helios and Matheson Analytics — have seen the value of their stakes nosedive as much as 99.99% in recent months, two Wall Street banks have made millions in fees selling the stock.
From left: MoviePass CEO Mitch Lowe, actor John Travolta, and HMNY CEO Ted Farnsworth

The strange story of how MoviePass’ owner was created by an Indian company accused of massive fraud

Helios and Matheson Information Technology, a defunct Indian tech company, stands accused in its home country of defrauding 5,000 or more creditors, including banks and senior citizens. It's also the former parent company of Helios and Matheson Analytics, which owns MoviePass.

MoviePass has deep ties to an Indian company that’s been accused of defrauding creditors and got kicked off 2 stock exchanges

The long-term viability of MoviePass and its parent company, Helios and Matheson Analytics (HMNY), has been thrown into question as its monthly losses have risen to $45 million, and investors may also be concerned about allegations against HMIT, whose CEO is a board member.
MoviePass CEO Mitch Lowe and Helios and Matheson CEO Ted Farnsworth.

MoviePass said a $300 million lifeline could sustain it for over a year, but that money could slip through its fingers

MoviePass has said repeatedly that it's not worried about losses of over $20 million per month because it has a $300 million "equity line of credit" that could sustain it for over a year, but financial experts cast doubt on the chances of the service and its parent company, Helios and Matheson.