MoviePass™ Continues its Growth and Expansion as the #1 Movie Theater Subscription Service
NEW YORK--(BUSINESS WIRE)--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%.
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.
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.
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