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Yet another move made. 

MoviePass parent Helios and Matheson Analytics Inc. (HMNY)  plunged 40.10% Wednesday to $12.73 following a massive reverse stock split that brought its stock price to $21.25 at market open. The company first reported the reverse stock split in an SEC filing Tuesday.

The reverse stock split was one of two measures shareholders of the company approved at a meeting Monday in an effort to prevent the data analytics company from being de-listed from the Nasdaq undefined stock exchange.

"At this point, I feel like Helios has taken the brunt of the risk along the way and now that we're outside of that and the risk is mitigated substantially from where it was several months ago, that we want to be a benefactor of that," Helios and Matheson CEO Ted Farnsworth told TheStreet. "When MoviePass goes public down the road Helios will end up being the largest shareholder as we are currently."

The stock has dropped 99.73% from its peak in October amid concerns that MoviePass' business model is unsustainable. The subscription service allows users to see one movie daily for $9.95 a month but pays theaters full price for each ticket, causing it to burn $21.7 million a month according to SEC filings. Nasdaq notified Helios and Matheson it was in danger of being de-listed in June as it requires that listed companies maintain a share price above $1.

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Farnsworth also said that the stock split has not reduced investor confidence in the company. Shareholders also voted to increase the number of shares of common stock from 500 million to 5 billion.

The reverse stock split is the latest in a series of efforts to bring the parent company back from the grave. Farnsworth told TheStreet earlier this month that the company can generate between $6 to $8 of additional income per subscriber by leveraging its 3 million customer base to provide marketing and analytics to film studios.

Helios and Matheson is planning to start offering MoviePass in Europe and "some mergers and acquisitions" by the end of the year, Farnsworth said.

"We feel at this point MoviePass is well on its way," Farnsworth said. "We understand the cash burn and the different things that are going on with it but also the positives and how much leverage we have over a movie when we tell subscribers to go see it."

"We're not going anywhere," Farnsworth said. "We're good for the next several years."