The Wrap notes that currently Helios and Matheson Analytics owns 91.8% of MoviePass.
New reports indicate that Helios and Matheson Analytics is trying to raise $1.2 billion in order to keep the business running smoothly.
The company filed with the SEC on Monday, offering stock, units and/or subscription rights as an incentive to invest in the company and keep MoviePass afloat.
The news also comes a short time after MoviePass revealed that it has a $300 million line of credit, as well as 17 months worth of cash on hand before any capital needs to be raised.