If the Company is unable to maintain its Nasdaq listing, its access to capital will become further limited and it may not have sufficient capital to enable MoviePass to continue its operations or become cash flow positive or profitable.In MoviePass' Parent Company Wants Approval for a Dramatic Reverse Stock Split of up to 1-for-500, just Months after its 1-for-250 one Failed to Stabilize the Stock
The Company would be required to notify the Nasdaq Stock Market LLC of its intent to cure the deficiency during the second compliance period, which may include, if necessary, implementing a reverse stock split.In MoviePass' Parent Company Has Canceled a Long-Delayed Shareholders Vote, as it Tries Desperately to Stay on the Nasdaq
We believe that a reverse stock split could increase the market price of our common stock sufficient to satisfy [Nasdaq's] minimum bid price requirement in the near term.In MoviePass Executives are Making One More Last-Ditch Effort to Save the Stock From Being Delisted