[flukus]

> But the company loses money when its customers use a pass, because it must pay theaters for the tickets.

This is some dotcom bubble 1.0 level stuff, "we'll sell at a loss and make it up in volume".

> Previous SEC filings revealed that the company was burning through an average of $21.7 million every month operating MoviePass. In May it blew through $40 million.

With zero growth to their customer base another $1.2 billion would last them 30 months. But if all goes according to plan they could lose this much faster:

> The service recently passed 3 million subscribers, and is trying to draw in more as part of the plan to stay afloat. Executives want to reach 5 million members by the end of the year, a number they say should help make the business profitable.

Who would be crazy enough to invest?