Proactiveinvestors USA & Canada Helios and Matheson Analytics Inc https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Helios and Matheson Analytics Inc RSS feed en Thu, 23 May 2019 09:57:59 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Moviefone to air first season of ‘The Ms Moviefone Show’ hosted by Grae Drake on May 10 ]]> https://www.proactiveinvestors.com/companies/news/220058/moviefone-to-air-first-season-of-the-ms-moviefone-show-hosted-by-grae-drake-on-may-10-220058.html Moviefone, the film news site owned by Helios and Matheson Analytics Inc (OTCMKTS:HMNY), announced Friday that it will launch the first season of "The Ms Moviefone Show," a 16-episode interview series executive produced and hosted by Grae Drake.

As the new face of Moviefone, former Rotten Tomatoes senior editor Grae Drake, will interview celebrity filmmakers and stars. Each episode will match the style of the film it covers, which means the set might look like a seedy detective film noir set in one episode and then erupt into an action-packed stunt sequence to introduce the next episode.

The series will be produced both in-studio in Los Angeles and at remote locations around the globe, as far away as Tokyo and London.

READ: Helios and Matheson's Moviefone taps former Rotten Tomatoes editor Grae Drake as Ms. Moviefone

A seasoned film journalist, Drake joined Moviefone in March after serving as an editor at Rotten Tomatoes and offering analysis on the film industry on NBC’s Today Show, ABC’s 20/20 and World News Tonight.

"The MS Moviefone Show" kicks off the summer movie season May 10, with Ms Moviefone’s unique take on Pokémon Detective Pikachu, featuring her interview with star Ryan Reynolds.

On May 17, Drake fearlessly takes on “John Wick: Chapter 3 – Parabellum” stars Keanu Reeves and Halle Berry.

Fans will be able to watch the series on Moviefone.com, as well as Moviefone’s YouTube and Facebook channels.

Expanding lineup

The introduction of "The Ms Moviefone Show" expands Moviefone’s lineup of original video series, which includes the long-running and phenomenally popular "Unscripted" series.

“Without a doubt, the best way to celebrate a big summer blockbuster like "Pokémon Detective Pikachu" is for me to dress up like a private investigator and interview Ryan Reynolds,” said host Grae Drake, AKA Ms Moviefone.

“After that, I host an episode in space to talk to the "Dark Phoenix" cast, and I do my own stunts, even pretending to snap a guy’s neck while interviewing the cast of John Wick: Chapter 3.”

Helios and Matheson Analytics CEO Ted Farnsworth said "The Ms Moviefone Show" is the latest example of how Moviefone is evolving to grow the company’s “brand recognition and deepen its relationship with the moviegoing audience.”  

“We have big plans this year for the entire MoviePass ecosystem, which also includes MoviePass Films and MoviePass Ventures,” said Farnsworth. “The launch of this show, featuring Grae Drake’s unique talent, is just the beginning.”

Drake, who is best known for her work as a film critic and her celebrity interviews, is the recipient of the 2017 Press Award from the International Cinematographers Guild.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Fri, 10 May 2019 08:26:00 -0400 https://www.proactiveinvestors.com/companies/news/220058/moviefone-to-air-first-season-of-the-ms-moviefone-show-hosted-by-grae-drake-on-may-10-220058.html
<![CDATA[News - Helios and Matheson's Moviefone taps former Rotten Tomatoes editor Grae Drake as Ms. Moviefone ]]> https://www.proactiveinvestors.com/companies/news/217455/helios-and-matheson-s-moviefone-taps-former-rotten-tomatoes-editor-grae-drake-as-ms-moviefone-217455.html Moviefone, the film news site owned by Helios and Matheson Analytics Inc (OTCMKTS:HMNY), is putting a new spin on its business by recruiting former Rotten Tomatoes senior editor Grae Drake as a brand ambassador and the new Ms. Moviefone.

As the new face of Moviefone, Drake will interview filmmakers and stars and also appear at industry events to offer analysis of movies.

On top of these duties, Drake will assume responsibility as well for producing new original content that will appear on the Moviefone site. She will also oversee the evolution of existing video content, such as the site’s “Unscripted” series. 

READ: Helios and Matheson CEO touts MoviePass member perks as the unlimited subscription plan returns

“Grae’s is the perfect voice to help us strengthen our connection with the millions of fans using Moviefone today, and she’ll use her expertise and passion around all aspects of pop culture to help build our audience even more,” said Matt Atchity, general manager of Moviefone, who previously worked with Grae as an editor at Rotten Tomatoes.

A seasoned film journalist, Drake joins Moviefone after serving as an editor at Rotten Tomatoes and offering analysis on the film industry on NBC’s Today Show, ABC’s 20/20 and World News Tonight.

For her part, Drake says she’s bullish on her new job.

“Moviefone is largely responsible for shaping the way I personally interact with movies,” said Drake in a statement. “It is an honor to be able to represent the brand and push film discussions past static critic scores.”

Moviefone provides moviegoers the chance to watch the latest trailers, read interviews with celebrities and buy movie tickets.

Helios and Matheson shares traded at $0.005 in OTC Markets trading Thursday afternoon.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Thu, 28 Mar 2019 12:16:00 -0400 https://www.proactiveinvestors.com/companies/news/217455/helios-and-matheson-s-moviefone-taps-former-rotten-tomatoes-editor-grae-drake-as-ms-moviefone-217455.html
<![CDATA[News - Helios and Matheson raises $6M for initiatives including investment in new films ]]> https://www.proactiveinvestors.com/companies/news/217258/helios-and-matheson-raises-6m-for-initiatives-including-investment-in-new-films-217258.html Helios and Matheson Analytics Inc (OTCMKTS:HMNY), the parent company of MoviePass and MoviePass Films, said Tuesday that it has raised $6 million in a new round of financing.

It plans to use the funds to advance product development for its MoviePass subscription business as well as fine-tuning its technology and ratcheting up its investment in new films.

“Our long-term vision is for MoviePass to be the nation’s most popular movie-theater ticketing platform,” Helios CEO Ted Farnsworth said in a statement. “We are building the infrastructure, data and tools that we believe will power the next generation of MoviePass.”

READ: Helios and Matheson CEO touts MoviePass member perks as the unlimited subscription plan returns

Under the financing’s terms, Helios forged agreements for the purchase by institutional investors of 60,000 preferred shares, which are convertible into shares of common stock and accompanying warrants to buy almost 60,000 preferred shares.

Excluding options and warrants, Helios and Matheson owns 92% of the outstanding shares of MoviePass Inc, the movie-theater subscription service. It holds 100% of the outstanding membership interests in MoviePass Ventures LLC and 51% of the outstanding membership interests in MoviePass Films LLC.

Helios and Matheson shares traded at $0.0067 in Tuesday's OTC Markets trading.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Tue, 26 Mar 2019 11:01:00 -0400 https://www.proactiveinvestors.com/companies/news/217258/helios-and-matheson-raises-6m-for-initiatives-including-investment-in-new-films-217258.html
<![CDATA[News - With iPhone sales flat, Apple bets on TV, credit card, subscription services as new revenue stream ]]> https://www.proactiveinvestors.com/companies/news/217123/with-iphone-sales-flat-apple-bets-on-tv-credit-card-subscription-services-as-new-revenue-stream-217123.html All eyes were on Apple Inc (NASDAQ:AAPL) CEO Tim Cook on Monday as he unveiled video and news subscription services under Apple TV as well as a credit card. 

The announcement was the iPhone maker's biggest push for an alternative revenue stream in more than a decade. Apple co-founder Steve Jobs tinkered with revamping TV years ago. 

Apple declined 1.9% to $187.40 in Monday's midafternoon Nasdaq trading.

READ: Apple hints at cutting iPhone prices to address sluggish sales after disappointing quarter

The tech giant announced a new paid tier of the Apple News app called Apple News+ that includes magazine content for $9.99 per month. It provides access to articles from more than 300 magazines including Vogue, GQ and Sports Illustrated, as well as such newspapers as The Wall Street Journal and the Los Angeles Times. 

“We believe in the power of journalism and the impact it can have on our lives,” said Cook. “We think Apple News Plus is going to be great for customers and great for publishers.”

Apple also said it would release its own credit card, known as Apple Card with Goldman Sachs Group Inc (NYSE:GS). The physical card itself is made of titanium. The credit card will have no number, late fees or annual fees. It will offer 2% cash back on purchases and use machine-learning on Apple’s devices to organize people’s spending behavior into weekly and monthly summaries.

Separately, Apple’s new videogame service, called Arcade, will provide access to more than 100 exclusive games through the company’s App Store.

Apple TV Plus

Jobs also announced Apple TV+, a long-rumored ad-free, on-demand entertainment streaming service that includes original programming produced by Apple and bundles of streaming packages from HBO, Showtime. HBO, Starz, CBS All Access, and Smithsonian Channel.

Apple TV+ will launch in the fall and be part of a revamped Apple TV app, competing with Netflix, and Amazon Prime. 

The second half of Apple's launch event included a parade of Hollywood A-listers like Oprah Winfrey, Steven Spielberg, Steve Carrell, Reese Witherspoon, Sarah Bareilles, and Jennifer Aniston, discussing their upcoming shows with Apple producations. Apple is now associated with at least 34 different TV and movie productions, according to a tally from Goldman Sachs.

Cook said Apple TV+ will be made available on smart TVs from Samsung, LG, Sony and Vizio, and even on the boxes that compete with Apple TV hardware, notably Fire TV and Roku.

The new streaming service will be good for original content creators, according to Helios and Matheson Analytics Inc (OTCMKTS:HMNY) CEO Ted Farnsworth.

“The more platforms we have to stream MoviePass Films, the better," Farnsworth told Proactive Investors. "The more competitive the industry landscape becomes ultimately makes the experience better for the consumer.” 

MoviePass Films is a joint venture of MoviePass parent Helios and Matheson and Emmett Furla Oasis (EFO) Films. It has already started principal photography on "Axis Sally," starring Al Pacino, and signed a three-film deal with Bruce Willis, whose film "10 Minutes Gone" is in post-production.

READ: Helios and Matheson CEO touts MoviePass member perks as the unlimited subscription plan returns

In a sign of frayed relations between Netflix Inc (NASDAQ:NFLX) and Apple, Netflix has decided to opt out of the Apple bundle, which will upsell subscriptions to HBO and Showtime, in addition to its original programming.

“The tell-tale sign of a disruption to come is when a competitor pulls away," Farnsworth said. "Netflix had declined to be a part of Apple’s premium service for two reasons. Not only does Netflix believe it’s so far ahead that it’s impossible for competing streaming platforms to catch up, Netflix is also superprotective of the information it has learned through 20 years of streaming and doesn't want to share that data with another partner. In saying this, Apple is Apple. Apple will create its own original content — or partner with other large studios. At the end of the day, Apple will disrupt streaming, just like it did with music.”

Apple is likley to spend more than $1 billion in acquiring and producing original TV shows over the next year.

For Apple, the launch marks the first time it is making its services business the centerpiece of a major event. It recently pushed out an unprecedented flood of hardware announcements made through press releases, from new iPads to a refreshed iMac and AirPods.

While Apple’s iPhone business seemed to be on an almost never-ending rise, Apple reported its first decline in revenue and profit for a holiday quarter in more than a decade. In the fiscal first quarter, iPhone revenue fell 15% from a year earlier to $51.98 billion, missing consensus market forecasts of $52.67 billion.

New revenue stream

Cook has acknowledged that customers have struggled with Apple’s high prices and were holding on to older iPhones for longer than in the past.

Over time, apps and services, from Spotify to Netflix, have often become more important to users than the devices that run them. That allows consumers to hold on to phones longer or switch to less expensive versions.

The company’s ambition in video is to become an "alternative to cable," combining original series with shows from other networks to create a new entertainment service that can reach "more than 100 markets" worldwide, said The Wall Street Journal. 

Clearly, it is the tech giant’s big push to build a robust revenue stream.

—Updates with comments from Helios and Matheson CEO Ted Farnsworth, Apple TV+ launch— 

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Mon, 25 Mar 2019 15:30:00 -0400 https://www.proactiveinvestors.com/companies/news/217123/with-iphone-sales-flat-apple-bets-on-tv-credit-card-subscription-services-as-new-revenue-stream-217123.html
<![CDATA[News - Helios and Matheson CEO touts MoviePass member perks as the unlimited subscription plan returns ]]> https://www.proactiveinvestors.com/companies/news/217057/helios-and-matheson-ceo-touts-moviepass-member-perks-as-the-unlimited-subscription-plan-returns-217057.html Helios and Matheson Analytics Inc (OTCMKTS:HMNY) CEO Ted Farnsworth said Friday that members of the revived $9.95 monthly MoviePass subscription plan will enjoy perks including the opportunity to appear in movies.

Farnsworth told Maria Bartiroma on FOX Business that a key boost for MoviePass is the creation of MoviePass Films, a joint venture of MoviePass parent Helios and Matheson and Emmett Furla Oasis (EFO) Films.

While the venture will focus on studio-driven content and new film production for theatrical release and other distribution channels, it will also support the subscription plan.

READ: Helios and Matheson files confidentially to spin off MoviePass

“The MoviePass Films side is really making the difference with Sylvester Stallone and Bruce Willis and all the different lineups that we have on our slate,” Farnsworth said.

He added that promotions for the subscription service will include opportunities to attend movie premieres and allow winners of contests to have parts in movies.

“You have all sorts of red-carpet events,” Farnsworth said. “They will be coming to the world premieres of whatever we are doing as well as being in the movies themselves. Members will be able to join contests to get a talking part in one of the movies.”

Shares of Helios and Matheson climbed 4.6% to $0.012 in Friday’s OTC Markets trading.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com 

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Fri, 22 Mar 2019 12:52:00 -0400 https://www.proactiveinvestors.com/companies/news/217057/helios-and-matheson-ceo-touts-moviepass-member-perks-as-the-unlimited-subscription-plan-returns-217057.html
<![CDATA[Media files - Helios and Matheson Analytics CEO deems new MoviePass Uncapped a success ]]> https://www.proactiveinvestors.com/companies/stocktube/12689/helios-and-matheson-analytics-ceo-deems-new-moviepass-uncapped-a-success-12689.html Thu, 21 Mar 2019 16:30:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/12689/helios-and-matheson-analytics-ceo-deems-new-moviepass-uncapped-a-success-12689.html <![CDATA[Media files - Helios and Matheson Analytics CEO talks about plans after MoviePass spin-off ]]> https://www.proactiveinvestors.com/companies/stocktube/11964/helios-and-matheson-analytics-ceo-talks-about-plans-after-moviepass-spin-off-11964.html Wed, 23 Jan 2019 15:39:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/11964/helios-and-matheson-analytics-ceo-talks-about-plans-after-moviepass-spin-off-11964.html <![CDATA[News - Helios and Matheson files confidentially to spin off MoviePass ]]> https://www.proactiveinvestors.com/companies/news/212818/helios-and-matheson-files-confidentially-to-spin-off-moviepass-212818.html Helios and Matheson Analytics Inc (NASDAQ:HMNY), the parent company of MoviePass, said Thursday it has filed confidentially with the Securities and Exchange Commission to spin off its beleaguered cinema discount-ticketing program.

The company said it has created a new subsidiary called MoviePass Entertainment Holdings Inc to take ownership of its MoviePass stake and other film-related assets held by Helios and Matheson. The company will spin off shares by listing on Nasdaq, or an alternative exchange, and distribute some of the shares as a dividend to shareholders as of a record date yet to be selected.

Investors cheered the move and sent shares up nearly 7.1% to $0.0149 Thursday monring.

READ: MoviePass owner Helios & Matheson clarifies reports that its CEO secured $65M in new funding

Helios and Matheson said in the S-1 registration statement that it plans to retain control of MoviePass Entertainment. The company’s board proposed a reverse stock split in a ratio of up to 1 share for 500 shares at a shareholders’ meeting on October 18, according to a statement provided to the SEC.

The move comes months after the company orchestrated its first reverse stock split last July, which gave investors 1 share for every 250 owned.

The first stock split set a temporary floor under Helios & Matheson’s shares, pushing them up above $22, but the stock has been cratering ever since.

In another rescue attempt, Helios and Matheson recently introduced a new business plan that allows subscribers in the popular MoviePass program to see up to three movies per month for $9.95 and also receive a $5 discount for any movie tickets beyond the first three.

Earlier this year, the company disclosed in an SEC filing that it was burning through as much as $20 million in cash per month on average.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Thu, 17 Jan 2019 10:54:00 -0500 https://www.proactiveinvestors.com/companies/news/212818/helios-and-matheson-files-confidentially-to-spin-off-moviepass-212818.html
<![CDATA[Media files - Small-Cap Snapshot: Struggling Helios and Matheson Analytics shares rise on plan to spin off MoviePass ]]> https://www.proactiveinvestors.com/companies/stocktube/10960/small-cap-snapshot-struggling-helios-and-matheson-analytics-shares-rise-on-plan-to-spin-off-moviepass-10960.html Tue, 23 Oct 2018 12:25:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/10960/small-cap-snapshot-struggling-helios-and-matheson-analytics-shares-rise-on-plan-to-spin-off-moviepass-10960.html <![CDATA[News - New York opens probe into MoviePass owner over company's financials, says CNBC ]]> https://www.proactiveinvestors.com/companies/news/207321/new-york-opens-probe-into-moviepass-owner-over-company-s-financials-says-cnbc-207321.html Helios and Matheson Analytics Inc (NASDAQ:HMNY), the parent company of MoviePass, is the subject of a probe by New York Attorney General Barbara Underwood, CNBC quoted a source familiar with the matter in a report.

The attorney general's office is investigating whether the company misled the investment community regarding the company's financials, the source said. The investigation is in its early stages.

The attorney general is using the Martin Act, a statute designed to protect New York investors, the report said.

A spokesperson for Helios and Matheson declined to comment.

READ: MoviePass owner Helios & Matheson clarifies reports that its CEO secured $65M in new funding

Shares of Helios closed on Wednesday up 3.63% at US$0.02. They fell 5% in after-hours trade at US$0.019.

Helios and Matheson Analytics is a provider of information technology services and solutions, offering a range of technology platforms focusing on big data, artificial intelligence, business intelligence, social listening and consumer-centric technology.

The company is based in New York City.

Reporting by Rene Pastor, contactable on rene.pastor@proactiveinvestors.com

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Wed, 17 Oct 2018 16:34:00 -0400 https://www.proactiveinvestors.com/companies/news/207321/new-york-opens-probe-into-moviepass-owner-over-company-s-financials-says-cnbc-207321.html
<![CDATA[News - MoviePass owner Helios & Matheson clarifies reports that its CEO secured $65M in new funding ]]> https://www.proactiveinvestors.com/companies/news/206426/moviepass-owner-helios-matheson-clarifies-reports-that-its-ceo-secured-65m-in-new-funding-206426.html Helios & Matheson Analytics (NASDAQ:HMNY), the penny stock and struggling owner of MoviePass, is denying press reports that its CEO has brought in $65 million in new funding, according to a regulatory filing.

This week, a number of reports surfaced in the media that said Helios’s CEO Ted Farnsworth had secured $65 million in new funding.

However, a filing with the Securities and Exchange Commission clarified the news stories and said the money was raised in August and September and “came from sales of its stock under an existing distribution agreement as well as “prepayments by investors of certain existing investor notes payable to the company.”

In the wake of the SEC filing, investors sent Helios shares down 42% to $0.021 in Thursday’s afternoon trading session.

The regulatory filing also revealed that Canaccord Genuity, the Canadian investment bank, has terminated its equity distribution agreement with Helios & Matheson, which had allowed Helios to sell up to $150 million worth of its stock. As of the end of September, Helios had sold roughly $126 million via Canaccord.

In the wake of the termination of the agreement, “no further offers or sales of the company’s common stock will be made pursuant to the company’s at-the-market offering.”

READ: MoviePass parent Helios and Matheson Analytics plummets further on plans for another reverse stock split

Just last month, in a last-ditch attempt to shore up its ailing fortunes, MoviePass’s beleaguered parent revealed plans for a second reverse stock split.

The company’s board will propose a reverse stock split in a ratio of up to 1 share for 500 shares at a shareholders’ meeting on October 18, according to a statement provided to the SEC.

The move comes months after the company orchestrated its first reverse stock split last July, which gave investors 1 share for every 250 owned.

READ: MoviePass parent Helios and Matheson shares plummet after revealing service outage due to cash problems

The first stock split set a temporary fire under Helios & Matheson’s shares, pushing them up above $22, but the stock has been plunging ever since.

In another rescue attempt, Helios and Matheson recently introduced a new business plan that allows subscribers in the popular MoviePass program to see up to three movies per month for $9.95 and also receive a $5 discount for any movie tickets beyond the first three

The new business model for MoviePass comes in the wake of a cash crisis for Helios & Matheson and the cratering of its share price.

Earlier this year, the company disclosed in an SEC filing that it was burning through as much as $20 million in cash per month on average.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Thu, 04 Oct 2018 15:41:00 -0400 https://www.proactiveinvestors.com/companies/news/206426/moviepass-owner-helios-matheson-clarifies-reports-that-its-ceo-secured-65m-in-new-funding-206426.html
<![CDATA[News - MoviePass parent Helios and Matheson Analytics plummets further on plans for another reverse stock split ]]> https://www.proactiveinvestors.com/companies/news/205056/moviepass-parent-helios-and-matheson-analytics-plummets-further-on-plans-for-another-reverse-stock-split-205056.html Shares of Helios and Matheson Analytics Inc (NASDAQ:HMNY) took another nosedive after MoviePass’s beleaguered parent revealed plans for a second reverse stock split in a regulatory filing.  

The struggling company’s board will propose a reverse stock split in a ratio of up to 1 share for 500 shares at a shareholders’ meeting on October 18, according to the statement provided to the Securities and Exchange Commission.

Read: MoviePass parent Helios and Matheson shares plummet after revealing service outage due to cash problems

In response to the revelation, shares dipped 29.4% to US$0.015 in Monday’s afternoon trading session.

Last July, in its initial attempt to push up its flagging share price, the company orchestrated a reverse stock split, which gave investors 1 share for every 250 owned.

The first stock split set a temporary fire under Helios and Matheson’s shares, pushing them up above US$22, but the stock has been plunging ever since.

Read: MoviePass owner's shares jump after unveiling new business plan

In a bid to shore up its ailing fortunes, Helios and Matheson recently introduced a new business plan that allows subscribers in the popular MoviePass program to see up to three movies per month for US$9.95 and also receive a US$5 discount for any movie tickets beyond the first three.

Monthly subscribers, who can still cancel anytime, will have the chance to take part in the new plan when they renew their membership. And annual subscribers will not be forced to adopt the new plan until their contracts are renewed.

The new business model for MoviePass comes in the wake of a cash crisis for Helios and Matheson and the cratering of its share price.

Earlier this year, the company disclosed in an SEC filing that it was burning through as much as US$20mln in cash per month on average.

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Mon, 17 Sep 2018 14:49:00 -0400 https://www.proactiveinvestors.com/companies/news/205056/moviepass-parent-helios-and-matheson-analytics-plummets-further-on-plans-for-another-reverse-stock-split-205056.html
<![CDATA[News - MoviePass owner's shares jump after unveiling new business plan ]]> https://www.proactiveinvestors.com/companies/news/202317/moviepass-owner-s-shares-jump-after-unveiling-new-business-plan-202317.html Shares in the struggling MoviePass owner Helios and Matheson Analytics (NASDAQ:HMNY) got a boost Monday as investors cheered the arrival of its new business plan.

By the afternoon, the company’s stock had climbed 33% to US$0.093.

But having seen its shares engage in a death spiral from a 52-week high of US$9,715 to less than a $1, do investors have much reason to hold out hope?

On the table, as of August 15, is a new proposal that will allow subscribers in the popular MoviePass program to see up to three movies per month for US$9.95 and also receive a US$5 discount for any movie tickets beyond the first three.

The company is also abandoning a jump in its price to US$14.95 and sticking to its monthly fee of US$9.95.

Read: MoviePass parent's CEO shrugs off cash burn worries and the competition to write company's own script

Monthly subscribers, who can still cancel anytime, will have the chance to take part in the new plan when they renew their membership. And annual subscribers will not be forced to adopt the new plan until their contracts are renewed.

Since just 15% of MoviePass members watch four or more movies per month, the management of Helios and Matheson expects the new business model will have no impact at all on most of its subscribers.

“It has become clear that a small number – only 15% - of the subscriber base has been stressing the system,” said Ted Farnsworth, Helios and Matheson’s  CEO, in a statement.

The new business model for MoviePass comes in the wake of a cash crisis for Helios and Matheson and the cratering of its share price.

Read: MoviePass parent Helios and Matheson shares plummet after revealing service outage due to cash problems

Helios and Matheson Analytics disclosed in a filing with the Securities and Exchange Commission last April, that it was burning through as much as US$20mln in cash per month on average. Signalling that its cash burn problems are not behind it, two weeks ago, the MoviePass app also crashed as the company was forced to borrow US$5mln in emergency cash to pay its vendors.

Last month, in what appeared to be a cosmetic change designed to keep its Nasdaq listing intact, the company orchestrated a reverse stock split, which gave investors 1 share for every 250 owned. The move set a temporary fire under Helios and Matheson’s shares, pushing them up over US$22, but the stock has been plunging ever since.

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Mon, 06 Aug 2018 14:40:00 -0400 https://www.proactiveinvestors.com/companies/news/202317/moviepass-owner-s-shares-jump-after-unveiling-new-business-plan-202317.html
<![CDATA[News - MoviePass parent Helios and Matheson shares plummet after revealing service outage due to cash problems ]]> https://www.proactiveinvestors.com/companies/news/201770/moviepass-parent-helios-and-matheson-shares-plummet-after-revealing-service-outage-due-to-cash-problems-201770.html Shares in MoviePass’s beleaguered parent group Helios and Matheson Analytics Inc (NASDAQ:HMNY) plunged today after revealing that its cash problems reached crisis levels and caused a temporary “service interruption” last night.

According to a regulatory filing with the Securities and Exchange Commission, an outage that hit MoviePass starting on Thursday came about after the company failed to make certain payments to its vendors. Indeed, the company has been forced to borrow US$5 million in cash in order to pay its “merchant and fulfillment processors.”

The news has sent Helios & Matheson’s shares reeling by more than 70% to close Friday at US$2, losing about 90% of their value since the reverse split. 

“If the company is unable to make required payments to its merchant and fulfillment processors, the merchant and fulfillment processors may cease processing payments for Movie Pass Inc., which would cause a MoviePass service interruption,” the company said.

Read: MoviePass parent's CEO shrugs off cash burn worries and the competition to write company's own script

The MoviePass service continued to be patchy today.

We are still experiencing technical issues with our card-based check-in process and we are diligently working to resolve the issue. In the interim e-ticketing is working. We apologize for the inconvenience and appreciate your patience while we resolve this issue.

— MoviePass (@MoviePass) July 27, 2018

At the start of the week, in an attempt to push up its share price, the company orchestrated a reverse stock split, which gives investors 1 share for every 250 owned. The move set a temporary fire under Helios and Matheson’s shares, pushing them up over US$22 earlier in the week, but today’s news has sent the stock plunging.

Hudson Bay Capital Management has agreed to supply Helios and Matheson with US$6.2mln in funding “which includes US$5mln in cash .. and US$1.2mln of original issue discount,” according to the filing.

--Updates share price--

Contact Ellen Kelleher at Ellen@proactiveinvestors.com

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Fri, 27 Jul 2018 12:03:00 -0400 https://www.proactiveinvestors.com/companies/news/201770/moviepass-parent-helios-and-matheson-shares-plummet-after-revealing-service-outage-due-to-cash-problems-201770.html
<![CDATA[News - MoviePass parent's CEO shrugs off cash burn worries and the competition to write company's own script ]]> https://www.proactiveinvestors.com/companies/news/201576/moviepass-parent-s-ceo-shrugs-off-cash-burn-worries-and-the-competition-to-write-company-s-own-script-201576.html MoviePass parent company Helios and Matheson Analytics (NASDAQ:HMNY) is a story worthy of a Hollywood thriller, with plenty of unexpected twists and turns as shares soared higher on the promise of its popular movie subscription service, then collapsed as investors questioned the company's profitability.

But like Bruce Willis' character in Die Hard, the company and its CEO, Ted Farnsworth, aren't giving up so easily.

Helios and Matheson announced a reverse stock split Tuesday as a measure to save itself from a Nasdaq delisting after the share dipped below US$1. At their height, the shares were trading at US$38.86, but the fears about the sustainability of Moviepass spooked investors as stories about its huge cash burn sent shares steadily lower.

READ: Helios and Matheson shareholders back measures to ensure MoviePass owner stays listed on Nasdaq

But the 1-to-250 split took the shares up to US$21 from US$0.09 to open Wednesday trading. Shares of the New York-based company sank more than 40% to US$12.25 in Wednesday trading.

While not all investors were impressed, the CEO isn't fazed by critics and is focused instead on the ones who get it.

“MoviePass is like any other unicorn company out there, whether it’s Uber or Airbnb, going through millions of dollars to prove out their business model,” CEO Ted Farnsworth told Proactive Investors in an exclusive video interview Tuesday.

The company’s shareholders, he said, get the business model and he estimates around 85% approve of the stock split. “They understand where we’re going and they understand they have to have the patience to deal with us the way we are and the way we’re growing,” said Farnsworth.

Behind the scenes

The service was the brainchild of Mitch Lowe, former president of DVD-kiosk operator RedBox and a co-founding executive of streaming media giant Netflix Inc (NASDAQ:NFLX).

For a monthly fee of US$9.95, subscribers can see one movie per day per month in most US theaters. MoviePass usually pays the theaters the full amount for the ticket, which raised questions about the profitability of its business model as the service's popularity grew dramatically.

Helios’s cash reserves came to $15.5mln at the close of April, which was not enough to meet its monthly deficit of US$21.7mln. The company also has an additional $27.9mln on deposit with merchant processors. In response, the company curtailed the number of movies subscribers could see with the pass in an attempt to stem the outflow.

READ: MoviePass owner seeks stake in Emmett Furla Oasis Films, launch film production company However, Helios seems to have a method to its madness, believing the cash burn will be worth it in the end.

There are currently more than 3 million MoviePass subscribers, a dramatic jump from last year when only around 12,000 people were using the service. MoviePass expects subscriber numbers to jump to more than 5 million by the end of the year, which should relieve the pressure.

Scaring the competition

In terms of competition, the company isn’t feeling the pressure just yet, believing that it has changed the course of the industry, somewhat. Theater-chain operator AMC Entertainment Holdings Inc (NYSE:AMC) expressed doubt about the subscription model, said Farnsworth, but then took a page out of MoviePass’ script to create its own similar service.

“We forced them to change their business model, which we think is a positive for the consumers all around,” he said.

Farnsworth said that shares of the company jumped when news broke that the mega-movie chain was following its lead.

While MoviePass is accepted at 92% of US theatres, AMC’s service is only applicable to its own theaters and has a cap of three movies per week.

Looking ahead

A shelf registration worth US$1.2bn will provide a foundation for the company to continue its current service, as well as fund its acquisition subsidiary, MoviePass Ventures, and its original content production company, MoviePass Films.

MoviePass Ventures recently acquired an equity stake in Gotti, a movie by director Kevin Connolly starring John Travolta, about the life of John Gotti, a member of the infamous Gambino crime family.

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Wed, 25 Jul 2018 10:43:00 -0400 https://www.proactiveinvestors.com/companies/news/201576/moviepass-parent-s-ceo-shrugs-off-cash-burn-worries-and-the-competition-to-write-company-s-own-script-201576.html
<![CDATA[Media files - MoviePass owner Helios and Matheson announces reverse stock split, taking it to US$21 from US$0.09 ]]> https://www.proactiveinvestors.com/companies/stocktube/9945/moviepass-owner-helios-and-matheson-announces-reverse-stock-split-taking-it-to-us21-from-us009-9945.html Wed, 25 Jul 2018 09:24:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/9945/moviepass-owner-helios-and-matheson-announces-reverse-stock-split-taking-it-to-us21-from-us009-9945.html <![CDATA[News - Helios and Matheson shareholders back measures to ensure MoviePass owner stays listed on Nasdaq ]]> https://www.proactiveinvestors.com/companies/news/201377/helios-and-matheson-shareholders-back-measures-to-ensure-moviepass-owner-stays-listed-on-nasdaq-201377.html Shareholders of Helios and Matheson Analytics Inc (NASDAQ:HMNY), the parent company behind the popular MoviePass subscription service, approved two measures Monday aimed at helping the company avoid being delisted by the Nasdaq stock exchange.

“The first approval was an authorization to increase the number of outstanding shares by a magnitude of 10, to 5 billion from 500 million, which would allow the company to sell more shares to the public or institutional investors,” according to a report by Business Insider.

The second — which Helios and Matheson CEO Ted Farnsworth described as an “insurance policy" if the first were not passed — was the approval of a reverse stock split that could reduce the number of shares by a 2-to-1 ratio, 250-to-1 ratio, or somewhere in between, at management's discretion.

READ: Shares of popular MoviePass owner rally after pricing secondary offering

Both measures are aimed at shoring up the company's flagging stock price. The stock closed 3.3% lower to US$0.09 Monday.

The company has provided no details on timing of the reverse split or by what ratio shares may be consolidated.

Helios and Matheson first received notice that it could be delisted from the Nasdaq in June, after failing to maintain a share price above the minimum US$1.

It’s been a tremendous ride with big highs and lows for Helios & Matheson which was a sleepy data analytics company when it acquired MoviePass, a service with just 20,000 subscribers at the time. After slashing the MoviePass monthly fee to US$9.95 from up to US$50 a month, its subscriber base ballooned, crossing the three million mark in June.

The CEO has told reporters that the timeline for profitability is by the end of this year, when MoviePass hits around five million subscribers.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

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Mon, 23 Jul 2018 16:02:00 -0400 https://www.proactiveinvestors.com/companies/news/201377/helios-and-matheson-shareholders-back-measures-to-ensure-moviepass-owner-stays-listed-on-nasdaq-201377.html
<![CDATA[News - Shares of popular MoviePass owner rally after pricing secondary offering ]]> https://www.proactiveinvestors.com/companies/news/200779/shares-of-popular-moviepass-owner-rally-after-pricing-secondary-offering-200779.html Shares of Helios and Matheson Analytics Inc (NASDAQ:HMNY), the parent company behind the popular MoviePass subscription service, rallied Friday after its secondary offering priced at US$0.18.  

According to theFly.com’s deal commentary Canaccord Genuity LLC is acting as sole book-running manager for the offering, while Palladium Capital Advisors LLC is acting as a financial advisor. The website did not provide the size of the offering, including details about when it would be completed.

The public offering comes after the company filed a shelf registration statement with the Securities and Exchange Commission on July 2 to raise US$1.2bn over three years.

“We recently filed a US$1.2bn shelf registration that we’re looking to use for MoviePass, MoviePass films, and M&A activity,” Helios and Matheson CEO Ted Farnsworth told Proactive Investors.

Helios and Matheson stock shot up 9.3% to US$0.20 in morning trade.

MoviePass' boss answers critics

Meanwhile, investors are sitting up and taking note after Helios and Matheson CEO Ted Farnsworth talked to CNNMoney about the state of the business, and his plan to make it profitable. 

When grilled on how he planned to bring the market’s flagging confidence back to the company, the CEO pointed to liquidity in the stock and “no shortage of institutions” willing to funnel money their way.

“I think that one thing Wall Street likes is there's liquidity in the stock. We've already announced that we are looking at different options of doing a reverse [stock split] and all these different things to recapitalize, restructure the company,” Farnsworth told CNNMoney.

“But there's no shortage of institutions willing to work with us to give us money, even as we're going through this right now, losing money. The institutions definitely understand the model. They understand where we're going. And I think that we've gotten there in record time.”

READ: MoviePass owner seeks stake in Emmett Furla Oasis Films, launch film production company

The CEO said Wall Street was used to seeing a model like MoviePass, similar to a Netflix Inc (NASDAQ:NFLX), where the company burns a significant amount of cash to get to profitability, but also to claim market share.

“The timeline [for profitability] really is by the end of this year, when you hit around five million subscribers, is what our model shows,” said Farnsworth.

It’s been a tremendous ride with big highs and lows for Helios & Matheson which was a sleepy data analytics company when it acquired MoviePass, a service with just 20,000 subscribers at the time. After slashing the MoviePass monthly fee to US$9.95 from up to US$50 a month, its subscriber base shot up, crossing the three million mark in June.

AMC has taken a leaf out of Helios & Matheson's playbook and is now offering an "AMC Stubs A-List" subscription for $20 a month, which is double the price of MoviePass. 

If big theater chains jump in with their own programs, will MoviePass lose its allure?

"Not at all, our numbers went up 23% when AMC announced it. We don’t see this plan as competition. AMC has a capped plan which costs double the price with a limited amount of movies at a limited number of theaters. Our MoviePass subscribers can see films at movie theaters around the country – including AMC," Farnsworth told Proactive Investors. 

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive

-- (Updates with quotes from interview with Helios & Matheson CEO) -- 

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Fri, 13 Jul 2018 16:45:00 -0400 https://www.proactiveinvestors.com/companies/news/200779/shares-of-popular-moviepass-owner-rally-after-pricing-secondary-offering-200779.html
<![CDATA[News - MoviePass owner seeks stake in Emmett Furla Oasis Films, launch film production company ]]> https://www.proactiveinvestors.com/companies/news/197941/moviepass-owner-seeks-stake-in-emmett-furla-oasis-films-launch-film-production-company-197941.html Helios and Matheson Analytics Inc (NASDAQ:HMNY), the parent company of MoviePass, said Wednesday that it has been granted an exclusive option to take over Emmett Furla Oasis (EFO) Films, which produced “Heist” with Robert De Niro and “VIce” with Bruce Willis, among other titles.

If the deal gets done, Helios will buy the complete film library and production slate of EFO films. Helios then aims to use Emmett Furla Oasis’s film-making expertise to launch a film production company MoviePass Films LLC.

The announcement of Helios’s new acquisition comes at a time when its investors are particularly alarmed about the company’s future prospects and its cash-draining business model.

Currently, the company’s main line of work is selling MoviePass subscriptions, which allow moviegoers to pay a monthly fee of US$9.95 to see as many movies as they’d like in most US theatres, but just one movie per day. The profitability of this business has been called into question as Helios pays theaters' full price for the discounted tickets, which is burning up its cash pile.

READ: MoviePass owner's shares in a death spiral as stock falls below US$1

Helios shares have fallen below US$1 in the past month after the company outlined how its paltry cash holdings fail to match its monthly spending figures. Helios’s cash reserves came to US$25.5mln at the close of April, which is not enough to meet its monthly deficit of US$21.7mln.

This week, however, Helios did offer investors a dose of rosy news, with the revelation that Citadel Securities, a big hedge fund, now has a 5.4% stake in the company.

READ: Helios and Matheson shares surge after Citadel Securities reveals stake

Helios has been engaged in the business of providing content for some time and its move to buy Emmett Furla Oasis will allow it to throw itself into the movie business in a meaningful way. Next month, Helios will release two films. The first is “American Animals” and the second is “Gotti”, which stars John Travolta as John Gotti.

“Since we began disrupting the movie industry with our unprecedented low-cost movie theater subscription service, MoviePass, we have envisioned owning and developing our own studio content and using the power of our several million subscribers to bolster the success of the box office for our films,” said Mitch Lowe, MoviePass’ chief executive. “I believe MoviePass Films will accelerate those efforts and demonstrate the power of MoviePass to drive movie theater attendance.”

Under the terms of its tie-up with EFO Films, Helios will own 51% of MoviePass Films LLC while EFO Films will control 49% of the company. The company will create new movies for release in theatres as well as via streaming services. Randall Emmett and George Furla will serve as the production company’s co-chief executives and its chairman of the board will be Ted Farnsworth.

The deal’s terms remain undisclosed, but the payment came in the form of cash and stock.

Helios shares traded down about 5% to US$0.45 in morning trade.

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Wed, 30 May 2018 10:09:00 -0400 https://www.proactiveinvestors.com/companies/news/197941/moviepass-owner-seeks-stake-in-emmett-furla-oasis-films-launch-film-production-company-197941.html
<![CDATA[News - Helios and Matheson shares surge after Citadel Securities reveals stake ]]> https://www.proactiveinvestors.com/companies/news/197861/helios-and-matheson-shares-surge-after-citadel-securities-reveals-stake-197861.html Helios and Matheson Analytics Inc (NASDAQ:HMNY), the parent company of MoviePass, saw its shares jump after Citadel Securities disclosed a stake in the company.

The investment firm now has a 5.4% stake in the company, as per an SEC 13G filing.

MoviePass is a subscription service that allows moviegoers to pay a monthly fee of US$9.95 to see as many movies as they’d like in most US theaters, but just one movie per day.

READ: Helios and Matheson Analytics shares sink amid MoviePass’ uncertain future

The profitability of the service has been called into question since MoviePass pays full price for each ticket, a flaw that has been acknowledged by Helios and Matheson in a regulatory filing.

It was disclosed in a separate filing that the company lost around US$21.7mln in cash every month between September and April, casting doubt on the sustainability of its business model.

Shares of the New York-based company surged more than 15% to US$0.47.

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Tue, 29 May 2018 14:30:00 -0400 https://www.proactiveinvestors.com/companies/news/197861/helios-and-matheson-shares-surge-after-citadel-securities-reveals-stake-197861.html
<![CDATA[News - MoviePass owner's shares in a death spiral as stock falls below US$1 ]]> https://www.proactiveinvestors.com/companies/news/196678/moviepass-owner-s-shares-in-a-death-spiral-as-stock-falls-below-us1-196678.html Shares of Helios and Matheson Analytics Inc (NASDAQ:HMNY), the majority owner of the popular MoviePass program, took another stomach-churning plunge Wednesday and put the company in danger of being delisted by Nasdaq.

Helios shares collapsed and are now trading below the key level of US$1 at US$0.82, after investors sent them down 43% in the wake of a warning that the company may have to reign in its growth due to a cash shortage.

Indeed, the group traumatized investors earlier this week when it outlined how its paltry cash holdings fail to match its exorbitant monthly spending figures in an 8-K filing with the US Securities and Exchange Commission.

Helios’s cash reserves came to $15.5mln at the close of April, which is not enough to meet its monthly deficit of US$21.7mln. The company also has an additional $27.9mln on deposit with merchant processors.In recent weeks, the company has been curtailing the number of movies subscribers can see with the pass in an attempt to stem the cash hemhoraging.

READ: Helios and Matheson Analytics shares tumble as MoviePass costs exceed cash on hand

If the company can’t obtain enough extra capital, it “may be required to reduce the scope of its planned growth or alter its business model, objectives and operations, which could harm its business, financial condition and operating results,” according to its filing.

Helios and Matheson reimburses movie theaters at full price for the discounted tickets its MoviePass customers buy, which means that it effectively subsidizes their cinema habits at the expense of its own profits. The company’s hope is that it will find a way to earn revenue from its more than 2 million subscribers via advertising, partnering with theatres or exploiting the data it collects about cinema buffs.

But the $9.95 per month unlimited movie subscription is not its only line of business.

Last month MoviePass Ventures revealed that it acquired an equity stake in the motion picture Gotti, which features John Travolta as the former boss of the Gambino crime family.

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Wed, 09 May 2018 15:05:00 -0400 https://www.proactiveinvestors.com/companies/news/196678/moviepass-owner-s-shares-in-a-death-spiral-as-stock-falls-below-us1-196678.html
<![CDATA[News - Helios and Matheson Analytics shares sink amid MoviePass’ uncertain future ]]> https://www.proactiveinvestors.com/companies/news/195568/helios-and-matheson-analytics-shares-sink-amid-moviepass-uncertain-future-195568.html Helios and Matheson Analytics Inc (NASDAQ:HMNY), the parent company of MoviePass, saw its share value drop sharply as the future of the movie ticket subscription service remains uncertain.

The company announced the pricing of a US$30mln public share offering, sinking its shares in early Thursday trading.

For a monthly fee of US$9.95, MoviePass subscribers can see as many movies as they’d like in most US theaters, but only once a day.

READ: Helios & Matheson shares surge premarket after MoviePass hits 1.5mln paid subscribers

The New York-based company announced in its annual report that its primary business will be the integration and development of MoviePass.

According to the regulatory filing, MoviePass usually pays theaters the full amount for the ticket, calling into question the profitability of its business model.

“It is possible that we may not achieve profitability with our MoviePass business. Our independent auditors have expressed substantial doubt about our ability to continue as a going concern, which may hinder our ability to obtain future financing,” the company said in its filing.

Shares of the information technology company fell 11% in pre-market trading on Monday.

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Mon, 23 Apr 2018 08:47:00 -0400 https://www.proactiveinvestors.com/companies/news/195568/helios-and-matheson-analytics-shares-sink-amid-moviepass-uncertain-future-195568.html
<![CDATA[News - Helios & Matheson shares surge premarket after MoviePass hits 1.5mln paid subscribers ]]> https://www.proactiveinvestors.com/companies/news/189746/helios-matheson-shares-surge-premarket-after-moviepass-hits-15mln-paid-subscribers-189746.html Helios & Matheson Analytics Inc (NASDAQ:HMNY) saw its shares surge in premarket trade after it tweeted that MoviePass has hit 1.5 million paid subscribers.

The subscription movie ticket platform has seen rapid growth, with demand for its service remaining high.

Demand more than what company had expected

Last month, the company said it had hit the 1 million subscriber mark. The company, which charges US$10 a month, allows members to see a movie a day in cinemas.

Helios & Matheson Analytics Inc owns a majority stake in MoviePass.

Netflix took three years to reach the 1 million subscribers mark.

In a statement, MoviePass chief executive Mitch Lowe said the demand was more than what the company had expected.

The sharp rise in subscriber numbers took place after the company slashed its subscription price from as much as US$50 to US$10 in August, when it had only 20,000 subscribers.

In premarket trade, Helios was up 5.78% at US$7.32.

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Tue, 09 Jan 2018 09:11:00 -0500 https://www.proactiveinvestors.com/companies/news/189746/helios-matheson-shares-surge-premarket-after-moviepass-hits-15mln-paid-subscribers-189746.html