Helios and Matheson (HMNY) looks set to do another reverse split after gaining approval for it at a recent special meeting. This will likely greatly reduce its share count (which had reached over 3 billion) and should get its stock to above $2 again, at least temporarily.
Helios and Matheson's main product (MoviePass) continues to see its subscriber base shrink though. As Sinemia's shutdown indicates, it is quite hard to make a movie subscription business work when the company is paying full-price (or near full-price) for tickets and doesn't have a substantial additional