MoviePass™ Continues its Growth and Expansion
as the #1 Movie Theater Subscription Service
Helios and Matheson Analytics Inc. (NASDAQ: HMNY) (“HMNY”), a provider of information technology
services and solutions and a majority owner of MoviePass Inc.
(“MoviePass”), the nation’s premier movie-theater subscription
service, today announced that, as of February 15, 2018, HMNY’s
total ownership of the outstanding shares of MoviePass’ common
stock (excluding shares underlying MoviePass options and warrants)
is equal to approximately 78%.
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Helios and Matheson acquires more
MoviePass™ (Photo: Business Wire)
The increase in ownership stems from cash advances provided by
HMNY to MoviePass, from time to time, from December 19, 2017
through February 15, 2018. These cash advances to MoviePass were
used to support MoviePass’ working capital and operational
requirements, as well as to support the expansion of MoviePass’
business plans and objectives. The total amount advanced by Helios
to MoviePass during this period totaled $45,525,000.
HMNY has also announced that, following its previously announced
public offering of Series A-1 and Series B-1 Units, as of February
15, 2018, HMNY has 37,889,587 shares of its common stock issued and
outstanding.
“Helios’ capital investment has fueled our growth to
approximately 2 million subscribers and enabled us to move closer
to our vision of transforming the movie industry,” said MoviePass
CEO Mitch Lowe. “Our goal has always been to drive more people to
the movies, while reinvigorating the entire ecosystem that includes
theaters, studios and distributors. Our relationship with Helios
makes that possible.”
“We could not be more thrilled to hold a bigger stake in
MoviePass, as the MoviePass phenomenon has become a major
disruption to the entertainment industry,” said Ted Farnsworth, CEO
of Helios and Matheson Analytics, Inc. “The partnership continues
to be a great benefit to both MoviePass and Helios and Matheson
shareholders.”
About Helios and Matheson Analytics Inc.
Helios and Matheson Analytics Inc. (Nasdaq: HMNY) 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. HMNY owns a majority interest in
MoviePass Inc., the nation's premier movie-theater subscription
service. HMNY’s holdings include RedZone Map™, a safety and
navigation app for iOS and Android users, and a community-based
ecosystem that features a socially empowered safety map app that
enhances mobile GPS navigation using advanced proprietary
technology. HMNY is headquartered in New York, NY and listed on the
Nasdaq Capital Market under the symbol HMNY. For more information,
visit us at www.hmny.com.
About MoviePass
MoviePass Inc. is a technology company dedicated to enhancing
the exploration of cinema. As the nation's premier movie-theater
subscription service, MoviePass provides film enthusiasts the
ability to attend one movie per day for a low fixed price. The
service, now accepted at more than 91% of theaters across the
United States, is the nation's largest theater network. For more
information, visit www.moviepass.com.
Cautionary Statement on Forward-looking Information
Certain statements in this communication contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 or under Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended (collectively, “forward-looking statements”) that
may not be based on historical fact, but instead relate to future
events, including without limitation statements containing the
words “believe”, “may”, “plan”, “will”, “estimate”, “continue”,
“anticipate”, “intend”, “expect” and similar expressions. All
statements other than statements of historical fact included in
this communication are forward-looking statements.
Such forward-looking statements are based on a number of
assumptions. Although HMNY’s management believes that the
assumptions made and expectations represented by such statements
are reasonable, there can be no assurance that a forward-looking
statement contained herein will prove to be accurate. Actual
results and developments (including, without limitation, the timing
of any formal agreements documenting HMNY’s ownership of MoviePass)
may differ significantly from those expressed or implied by the
forward-looking statements contained herein and even if such actual
results and developments are realized or substantially realized,
there can be no assurance that they will have the expected
consequences or effects. Risk factors and other material
information concerning HMNY and MoviePass are described in its
Annual Report on Form 10-K, as amended, for the fiscal year ended
December 31, 2016, its Quarterly Report on Form 10-Q for the fiscal
quarter ended September 30, 2017 its registration statement on Form
S-3 declared effective on February 9, 2018 and other filings,
including subsequent current and periodic reports, information
statements and registration statements filed with the U.S.
Securities and Exchange Commission. You are cautioned to review
such reports and other filings at www.sec.gov.
Given these risks, uncertainties and factors, you are cautioned
not to place undue reliance on such forward-looking statements and
information, which are qualified in their entirety by this
cautionary statement. All forward-looking statements and
information made herein are based on HMNY’s current expectations
and HMNY does not undertake an obligation to revise or update such
forward-looking statements and information to reflect subsequent
events or circumstances, except as required by law.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20180216005433/en/
HMNY Contact:The Pollack PR Marketing GroupStephanie
Goldman/Mark Havenner, 310-556-4443sgoldman@ppmgcorp.com /
mhavenner@ppmgcorp.comorMoviePass Contact:LaunchSquad for
MoviePassGavin Skillman, 212-564-3665gavin@launchsquad.com
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