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MoviePass' Parent Company Admits Investors Can't Rely on Some of its Previous Financial Statements, and Says it Underestimated Losses

Business Insider
  • MoviePass' parent company, Helios and Matheson Analytics (HMNY), said in a filing with the Securities and Exchange Commission on Tuesday that its previously issued quarterly and year-to-date financial statements were not accurate.
  • The company said the errors related primarily to the "overstatement of subscription revenues" in the third quarter of 2018 for MoviePass.
  • The result was an underestimated net loss for HMNY of $6.6 million, the company estimated...
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