![]() “By far the most likely suspect is some sort of a pressurization issue,” said William Waldock, a professor of safety science who teaches aircraft accident investigation at Embry-Riddle Aeronautical University in Prescott, Arizona. before crashing in Virginia, k illing the pilot and three passengers. ![]() Once over Long Island, it inexplicably turned around and headed south, flying straight over Washington, D.C. The Cessna Citation took off from Elizabethton, Tennessee, headed for Long Island’s MacArthur Airport. But federal investigators are just beginning to look for answers, and experts cautioned against jumping to conclusions. (AP) - A loss of oxygen is a leading theory for why an unresponsive business jet flew off course and over the nation’s capital Sunday before it crashed in rural Virginia. UPDATE: MoviePass' stock closed at 0.048 USD on Wednesday afternoon.RICHMOND, Va. In the meantime, to follow the MoviePass parent company share price, use the HMNY Stock Ticker Symbol. ![]() Last week MoviePass CEO told the NYPost that "investors believe in the sustainability of MoviePass' new pricing plan, but are waiting to see what percentage of the service's 3-million-plus subscribers renew at the three-movies-per-month rate."Īs more is learned about the future of MoviePass, we'll continue to update this post. "These factors raise substantial doubt about the company's ability to continue as a going concern."Īccording to CNN, the company recently underwent a reverse 250-to-1 stock split in hopes of boosting share price and avoiding being delisted from the NASDAQ. "Without additional funding, the company will not have sufficient funds to meet its obligations within one year," Helios said in its report. Helios and Matheson issued a statement earlier this month claiming talk of the company's demise was "greatly exaggerated" and that it was just going through a "rough patch." But in Tuesday's earnings report, there was less of the positivity found in earlier statements. The parent company's stock continued to fall Wednesday morning, with shares dipping below four cents. The changes to the plan lead to a mass exodus of users, some of whom later found out their plans were reactivated when they accepted the new Terms of Service for MoviePass. Unfortunately, many subscribers reported having choices limited to just one or two film options per day, with more popular films only showing vacancies during strange hours. This change may have been acceptable had moviegoers actually been able to find seats. In addition, the company has recently made numerous changes to its business model, the latest of which involved altering the terms of service to allow users to see one movie per day to just three movies a month for $9.95. MoviePass has been in hot water for a while now, with shareholders filing suit against the company for alleged fraudulent business practices. The fall in share prices came after a tumultuous day for the company as Helios and Matheson (HMNY), the owner of the subscription movie service, posted its latest earnings report, showing a $126.6 million loss in the second quarter. MoviePass' stock took a massive dive this week, as shares plummeted to five cents Tuesday afternoon.
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