MoviePass seems like a deal that's too good to be true: $9.95 per month allows you to see one 2D movie per week (or up to four per month) in movie theaters. But many have wondered how MoviePass will make money; after all, the company is paying theaters full price for movie tickets. Now, Business Insider reports that an external auditor has "substantial doubt about the Company's ability to continue as a going concern" based on MoviePass's 10-K filing. The auditor in question is Rosenberg Rich Baker Berman & Co., and the firm specifically had concerns about negative cash flows that MoviePass reported. Because of the levels of these losses, the auditors question the viability of the company over the next year.
Apr-19-2018, 16:00:10 GMT