Former VP of Business Development to Drive Day-to-Day Operations, Elevate the Company Into Its Next Phase and Lead Integration Plan with Moviefone™, and MoviePass Ventures
NEW YORK, NY – December 3, 2018 – MoviePass™, the nation’s premier movie theater subscription service and a majority-owned subsidiary of Helios and Matheson Analytics Inc. (Nasdaq:HMNY) (“Helios”), today announced the appointment of Khalid Itum to Executive Vice President. Previously MoviePass’ Vice President of Business Development, Itum will continue to report to CEO Mitch Lowe. Itum will manage day-to-day operations at MoviePass, working closely with both Lowe and HMNY CEO Ted Farnsworth to spearhead company development, and drive its exhibition and distribution strategies forward. Itum will also be responsible for creating its strategic plan and ensuring its implementation.
“Khalid is a unique talent with an amazing vision, who has been an integral part of MoviePass since 2014,” said Lowe. “Before coming on in a full-time capacity in 2017 to lead our studio affairs and distributor partnerships, he played a significant role as an advisor. As we continue to spur innovation across the industry, he not only strengthens our sales and operations efforts across the organization, but he deepens our relationships within the industry ecosystem.”
In his role as Vice President of Business Development, Itum had been responsible for driving revenue through multiple studio and independent distributor partnerships and various brand and content deals. He played a crucial role in growing MoviePass’ Los Angeles office and led the strategic formation of MoviePass Ventures and its first acquisition of American Animals — alongside The Orchard — at the 2017 Sundance Film Festival. He also spearheaded the acquisition of Moviefone™ from Oath earlier this year.
“Khalid has a proven track record and I believe he will serve our financial goals and increase our overall operating performance,” said Ted Farnsworth, CEO of Helios and Matheson. “Khalid brings a remarkable enthusiasm and passion to the job each day and truly shares in the overall vision of MoviePass.”
“I’m eager to continue building MoviePass and am proud of how far we’ve come. The road hasn’t been easy — and the hyper growth has been challenging. However, we’ve taken a hard look over the past few weeks and months at what needs to happen in order to not just preserve what we’ve built, but to use it as a foundation upon which to build. Because of this, I know we’ll emerge a better partner to the theaters (big and small), major studios and independent distributors with whom we have the privilege of working to collectively best serve the interests of the American consumer,” said Khalid Itum, Executive Vice President of MoviePass. “You may notice we’ve been out of the news for some time, and that’s been by design. At MoviePass, we’ve recently prioritized building toward a vision that aligns our success with greater consumption of entertainment. You’ll soon be able to judge for yourselves, and I believe that the best marketing we can do, today and always, is to enhance our product and treat our subscriber as a member of something special: because that’s what MoviePass is to a great number of Americans already. It’s on us to regain their trust. I believe the future is bright for our company, and I couldn’t do it without my team which has been giving its 200% dedication and effort to transform the offering and platform into its full potential. I look forward to announcing some powerful additions to our management team to join with us in charging forward.”
About Helios and Matheson Analytics
Helios and Matheson Analytics Inc. (Nasdaq:HMNY) (“Helios”) 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. Helios currently owns approximately 92% of the outstanding shares (excluding options and warrants) of MoviePass Inc., the nation's premier movie-theater subscription service. Helios' 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. Helios 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 Inc.
MoviePass Inc. (“MoviePass”) is a marketing technology platform enhancing the exploration of film and the moviegoing experience. As the nation's premier movie-theater subscription service, MoviePass provides film enthusiasts the ability to attend select new movies in theaters. The service, now accepted at more than 91% of theaters across the United States, is the nation's largest theater network. Visit us at 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 Helios’ 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, whether Mr. Khalid will be able to increase MoviePass’ overall operating performance) 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. Some, but not all, of these risks include, among other things:Helios’ ability to successfully develop the business model of MoviePass, Moviefone, MoviePass Films and MoviePass Ventures; Helios’ and MoviePass’ capital requirements and whether they will be able to raise capital as needed; Helios’ ability to fulfill its payment obligations to its merchant processors in a timely manner to prevent MoviePass service interruptions; Helios’ ability to integrate the operations of MoviePass, Moviefone, MoviePass Films and MoviePass Ventures and other acquired businesses into its operation; Helios’ ability to retain its existing subscribers and market and sell its services to new subscribers; the success of cost-reduction and subscription revenue increase measures and Helios’ ability to continue to generate non-subscription revenue; the impact of legal proceedings against Helios and MoviePass; Helios’ ability to satisfy Nasdaq listing criteria deficiencies and whether Nasdaq may conclude the delisting of Helios’ common stock is in the public interest; whether Helios will continue to receive the services of certain officers and directors; Helios’ ability to protect its intellectual property and operate its business without infringing upon the intellectual property rights of others;
and the risk factors described in Helios’ Annual Report on Form 10-K for the fiscal year ended December 31, 2017, subsequent quarterly reports on Form 10-Q 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 Helios’ current expectations and Helios 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.