the Company had resumed operations at 461 U.S. theatres, with limited seating capacities of between 25% and 40%, representing approximately 77% of the U.S. theatres and 69% of 2019 U.S. same-theatre revenue.
Since the resumption of operations in its U.S. markets, the Company has served more than 1,400,000 guests as of September 14, 2020, representing a same-theatre attendance decline of approximately 81% compared to the same period a year ago. The remaining 23% of the U.S. theatres left to reopen are located in California, Maryland, Michigan, New York, North Carolina, and Washington State, and include some of the Company’s most productive theatres, representing approximately 28% of 2019 U.S. revenue. The Company has an active dialogue with local and state government officials in these states, however, there is limited visibility around the timing for resumption of theatre operations in these locales.
International:
The Company resumed limited operations in its International markets in early June. As of June 30, 2020, the Company had resumed operations at 37 theatres, with limited seating capacities, in nine countries and recorded attendance of 100,000 guests in June. As of July 31, 2020, the Company had resumed operations at 182 leased and partnership theatres. As of September 14, 2020, the Company had resumed operations at 324 leased and partnership theatres. This represents approximately 90% of the Company’s international theatres and approximately 94% of 2019 international same-theatre revenue.
Seating capacity at the reopened international theatres remains limited to between 25% and 50% of capacity to ensure social distancing for guests. Since the resumption of operations in its International markets on June 3, 2020, the Company’s theatres have served more than 3,600,000 guests as of September 14, representing a same-theatre attendance decline of approximately 74% compared to the same period a year ago. The remaining 10% of International theatres left to reopen are expected to resume operations as demand warrants.
Liquidity
The Company’s cash and cash equivalents as of June 30, 2020, was $498.0 million. Adjusting the cash and cash equivalents to give effect to the Company’s offer to exchange its outstanding senior subordinated notes and related financing transactions, including the issuance of New First Lien Notes due 2026, completed on July 31, 2020 and related fees, interest and associated expenses, the cash balance as of June 30, 2020, would have been approximately $700.8 million.
The Company’s total cash burn for the second quarter ended June 30, 2020, was approximately $292 million, within the Company’s then targeted $100 million monthly cash burn projection assuming a continued suspension of all U.S. theatre operations and successful negotiations with landlords.
The Company’s cash burn is impacted by, among other things, the timing of resumption of theatre operations, costs associated with the AMC Safe and Clean initiative, landlord negotiations and minimum lease payments, the timing of movie releases, theatre attendance levels, and food and beverage receipts.
On August 31, 2020, the Company announced the signing of a definitive agreement to sell all nine of its theatre locations in the Baltic Region (Latvia, Lithuania, and Estonia) for $77.0 million. Approximately half of the sale proceeds were received upon signing the definitive agreement.
As of August 31, 2020, the Company’s cash balance was $507.9 million, this includes the initial $37.5 million proceeds received from the sale of the Baltics theatres. The Company’s cash burn for July and August 2020, excluding the proceeds from the sale of the Baltic theatres, was $230.4 million or an average of approximately $115.2 million per month and was primarily impacted by initial reopening expenses, including initial costs associated with AMC’s Safe and Clean initiative and minimum lease payments as theatres began to reopen. Because of the ramp up of costs associated with theatre reopenings and the lower attendance levels experienced as theatres have begun to reopen, we expect the cash burn for the remainder of the third quarter of 2020 to be roughly comparable to these levels.
Going forward, our ability to reduce cash burn rates and ultimately generate positive cash flow, and therefore the extent to which we will require additional sources of liquidity, will depend almost entirely on our future attendance levels that drive admission and food and beverage revenue. Attendance in the fourth