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Movie Pass continues the fight to survive. The company's dubbed "Netflix of movies." And their latest plan may look good on the surface But the devil is in the details.Buzz60's Mercer Morrison
Buzz60

MoviePass app on a smartphone and a MoviePass debit card.(Photo: MoviePass)

MoviePass has had a rocky second half of 2018 – and things have just gotten worse.

Parent company MoviePass Helios & Matheson Analytics said it was approved by the company. Securities and Exchange Commission filing on Tuesday. The company has until Dec. 18 to bolster its share price to $ 1 – or else the Nasdaq could potentially delist HMNY stock, which would serve as a major blow to a source of equity. Currently, HMNY stock trades at just under 2 cents per share.

"The Board apologizes for any inconvenience this may have caused its stockholders," Helios & Matheson Analytics said in a statement.

This episode is the most recent in a series of problems for MoviePass. $ 9.95 a month for the company – when its app crashed after MoviePass ran out of money. Then, in August, the company announced that it would only be able to see the movies for the same monthly fee.

The New York Attorney General Barbara Underwood opened a probe into whether Helios & Matheson Analytics misled investors – the company responded that it is "fully cooperating" with the investigation and denied any wrongdoing.

Amid all the drama, Helios & Matheson Analytics announced last month that it plans to spin off MoviePass into a new entity, MoviePass Entertainment Holdings.

Follow USA TODAY Intern Ben Tobin on Twitter: @TobinBen

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