To that end, HMNY is endeavoring to create MoviePass Entertainment Holdings as a separate publicly traded holding company that would contain the following four assets: (i) the shares of common stock of MoviePass Inc. Since we acquired control of MoviePass in December 2017, HMNY largely has become synonymous with MoviePass in the public's eye, leading us to believe that our shareholders and the market perception of HMNY might benefit from separating our movie-related assets from the rest of our company," said Ted Farnsworth, Chairman and Chief Executive Officer of HMNY. "For many years, HMNY has been focused on data analytics, and in that capacity we own assets like Zone Technologies which provides a safety and navigation app for iOS and Android users and a global security concierge service. ("MoviePass") and other film related assets held by HMNY. ("MoviePass Entertainment") that would take ownership of the shares of MoviePass Inc. To do this, HMNY would create a new subsidiary named MoviePass Entertainment Holdings Inc. (Nasdaq: HMNY) ("HMNY"), a provider of information technology services and solutions, today announced that its Board of Directors preliminarily has approved a plan to create a vertically integrated film production, marketing and exhibition company. Last week, the New York Attorney General launched a probe into Helios and Matheson to determine whether the company misled investors regarding the company's financials, a person familiar with the investigation told CNBC. ![]() But the popularity hurt profits, and MoviePass adjusted the plan. The company skyrocketed to popularity with an initial subscription that allowed moviegoers to see a film a day in theaters for $9.95 per month. In recent months, MoviePass has repeatedly adjusted its movie subscription plans and taken out hefty loans to cover massive losses. Shares of Helios and Matheson surged 14 percent Tuesday afternoon, though the stock trades for pennies per share. The company is also planning to distribute some outstanding shares of MoviePass Entertainment common stock as a dividend to Helios and Matheson shareholders. "Since we acquired control of MoviePass in December 2017, HMNY largely has become synonymous with MoviePass in the public's eye, leading us to believe that our shareholders and the market perception of HMNY might benefit from separating our movie-related assets from the rest of our company," Helios and Matheson CEO Ted Farnsworth said in a statement. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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