MoviePass’ plot-twist split is KO’d

Cash-strapped MoviePass has backed off from plans to undergo a massive 500to-1 reverse stock split, admitting that it couldn’t get enough stockholder support for the bizarre move.

The too-good-to-be-true cinema subscription service — which lost more than $100 million earlier this year by offering users as many as 30 visits to the movie theater a month for $9.95 — had hoped to have the split approved to bolster its stock price, currently below 2 cents, to avoid being delisted from the Nasdaq.

New York-based MoviePass parent company Helios and Matheson Analytics must see its shares trade above $1 for 10 straight days prior to Dec. 18 to maintain its listing.

It had initially planned to hold the vote on Oct. 18, but delayed it twice, first to Nov. 1 and then to Nov. 14, before abandoning it entirely.

“The board canceled the special meeting because it does not expect to have the requisite stockholder votes to approve the proposed reverse stock split,” Helios and Matheson said in a Tuesday filing.

The MoviePass problems started when the company horribly underestimated how many movies subscribers would see after it dropped its all-you-can-watch monthly price to $9.95.

MoviePass pays theaters the full price of a movie ticket.

To stem the share-price decline, Helios in July underwent a 250-to-1 reverse split, boosting its stock to $22.25 a share — up from 8 cents.

But the cash burn continued to eat into the share price. MoviePass has since limited the number of movies subscribers can see to three a month — down from the previous one a day.

Helios shares were up 4.1 percent in extended trading Tuesday, to 1.8 cents.