Less than a week after MoviePass’parent company, Helios and Matheson Analytics, sold off stock in a bid to raise additional capital, the company modified its base subscription tier to limit the number of movies a user can see per month.

MoviePass, which in August 2017 lowered the price of its service to just $9.95 per month, previously allowed subscribers to see one 2D movie per day. With the average month having 30 days, a power user of the service paid about $0.33 per movie they see at one of the participating theaters.

The price-drop resulted in skyrocketing number of subscriptions, and the company claimed to be “the fastest-growing subscription service in history.”

However the honeymoon phase seems to be over, and the $9.95 per month now nets users four movies per month. The service is also billing users quarterly, compared to the month-to-month subscription model previously offered.

The subscription plan additionally comes with a three-month trial of iHeartRadio All Access.

“Currently, we are offering a deal with iHeartRadio which provides users with up to four movies per month and a premium membership to iHeartRadio All Access,” the company said in a statement. “We’re continually testing various promotions with different partners, and the current iHeartRadio deal is consistent with that approach.”

Users who previously purchased an annual membership are unaffected by the subscription changes and can still view one movie per day.

Still, offering four movies per month for essentially the price of one isn’t something to turn your nose up to given the average cost of a single movie ticket is $8.84. The average for a non-matinee 2D movie ticket in the Triangle area is about $9.50.

But combined with recent changes to the company’s terms of service, MoviePass subscribers are growing weary of the company’s stability.

Ahead of the release of one of the biggest movies of the year, Marvel’s “Avengers: Infinity War,” MoviePass updated its terms of service to limit that number of times its users can see select films. Whereas subscribers could previously see a single movie as many times as they’d like in a month – something fairly common for tentpole films like those from Marvel, DC and the Star Wars franchise – MoviePass now blacks out previously viewed films in its app.

“We recently updated our Terms of Service to reflect that MoviePass subscribers are only permitted to see a select movie in theaters once with your MoviePass,” the company’s website was updated to say. “We hope this will encourage you to see new movies and enjoy something different!”

Other modifications to its TOS include only allowing users to switch devices once per month (sorry to those of you with a tendency to drop your phones in the toilet), and requiring users to use the latest version of the MoviePass app or risk account suspension until the app is updated (sorry to those with older devices that may not support future app updates).

Some users also report that the MoviePass app prompts them to upload a photo of their ticket stub to counter fraudulent activity. The MoviePass card acts as a debit card, preloaded with the price of a single movie ticket, and users – in theory – could use the card to purchase tickets to premium (3D and IMAX) screenings.

The changes come following an auditor’s report that MoviePass’ parent company is hemorrhaging money “from operations and negative cash flows from operating activities,” and that it sought to sell up to $150 million in stock to raise additional capital.

“Helios and Matheson may use the net proceeds from this offering to increase the Company’s ownership stake in MoviePass or to support the operations of MoviePass and MoviePass Ventures; to satisfy a portion or all of any amounts payable in connection with previously issued convertible notes; and for general corporate purposes and transaction expenses,” the company said in a statement. “The Company may also use the proceeds to make other acquisitions.”

The stock offering resulted in a sharp decline in stock prices, with HMNY’s value dropping around 40 percent.

There is a silver lining, though, as the executives behind HMNY and MoviePass expressed little concern for the company’s future.

“I’m not worried about the viability of MoviePass at all,” Ted Farnsworth, chief executive of HMNY, told the New York Times. “Our customer service has dramatically improved, we’ve worked out the little bugs with the technology, and we have plenty of money to get through the next year.”

He added, “We have well north of $300 million available to us in financing.”

Mitch Lowe, CEO of MoviePass, echoed Farnsworth, saying that they “love the idea that everybody think that we’re going to fail.”

“It’s exactly what people told us at Netflix and Redbox. And then suddenly they all turned around and realized we were too big to stop,” said Lowe, who is a former Netflix and Redbox exec.

The MoviePass business model banks on those users who pay for the service but may not use it one month, or only sees one film. If a user doesn’t see any movies in a month, the service takes home $9.95 from that user; if a user only sees one film, the take home average is $1.11.

“We’re profitable on 88 percent of our customers,” Farnsworth told the New York Times.

Despite the companies’ optimism, its users want to know if the “unlimited” tier will come back in the future. The message is a bit hazy.

While MoviePass’ official statement is that the latest changes do not “mean that our unlimited subscription will not be offered in the future,” Lowe told The Hollywood Reporter that he isn’t sure if or when it will return.

“I don’t know,” Lowe replied when asked if he thought the unlimited tier would return. “We just always try different things. … Every time we try a new promotion, we never put a deadline on it.”