MoviePass parent Helios and Matheson files for Chapter 7 and stock falls to zero
MoviePass parent Helios and Matheson files for Chapter 7 and stock falls to zero
MW MoviePass parent Helios and Matheson files for Chapter 7 and stock falls to zero
Helios and Matheson Analytics Inc. (HMNY), the parent of the MoviePass cinema-ticket subscription service, said Wednesday it has filed for Chapter 7 bankruptcy, allowing a court to sell its remaining assets and wind down all operations. In a filing with the Securities and Exchange Commission, the company, which shuttered MoviePass back in September, said board members Prathap Singh, Gavriel Ralbag, Muralikrishna Gadiyaram and Joseph Fried have tendered their resignations, leaving the company with no remaining board members. Parthasarathy Krishnan has resigned as the Interim chief executive and Robert Damon has resigned as interim chief financial officer. MoviePass made a splash when it first started offering users unlimited entry to films for a monthly subscription price that was way below what was needed to cover the costs. The company was soon under water and was recording million-dollar monthly deficits. Executives said they were hoping to generate revenue by monetizing user data and selling ads for movies and theater chains, plans that never came to fruition. Before launching MoviePass, Helios and Matheson was a small data-analytics company. The stock has fallen to zero.
-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
January 29, 2020 10:11 ET (15:11 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
MW MoviePass parent Helios and Matheson files for Chapter 7 and stock falls to zero
MW MoviePass第7章的父Helios和Matheon文件和庫存降至零
Helios and Matheson Analytics Inc. (HMNY), the parent of the MoviePass cinema-ticket subscription service, said Wednesday it has filed for Chapter 7 bankruptcy, allowing a court to sell its remaining assets and wind down all operations. In a filing with the Securities and Exchange Commission, the company, which shuttered MoviePass back in September, said board members Prathap Singh, Gavriel Ralbag, Muralikrishna Gadiyaram and Joseph Fried have tendered their resignations, leaving the company with no remaining board members. Parthasarathy Krishnan has resigned as the Interim chief executive and Robert Damon has resigned as interim chief financial officer. MoviePass made a splash when it first started offering users unlimited entry to films for a monthly subscription price that was way below what was needed to cover the costs. The company was soon under water and was recording million-dollar monthly deficits. Executives said they were hoping to generate revenue by monetizing user data and selling ads for movies and theater chains, plans that never came to fruition. Before launching MoviePass, Helios and Matheson was a small data-analytics company. The stock has fallen to zero.
Helios和MoviePass電影票訂閲服務的母公司Matheon Analytics Inc.週三表示，該公司已根據破產法第7章申請破產，允許法院出售剩餘資產並結束所有業務。在提交給美國證券交易委員會(Securities And Exchange Commission)的一份文件中，該公司表示，董事會成員普拉薩普·辛格(Prathap Singh)、加夫列爾·拉爾巴格(Gavriel RalBag)、穆拉利克里希納·加迪亞拉姆(Muralikrishna Gadiya Am)和約瑟夫·弗裏德(Joseph Fry)已提交辭呈，公司沒有剩餘的董事會成員。Parthasarathy Krishnan已辭去臨時首席執行官一職，羅伯特·達蒙(Robert Damon)已辭去臨時首席財務官一職。當MoviePass首次開始向用户提供無限制的電影門票時，它引起了轟動，每月的訂閲費遠遠低於支付成本所需的價格。該公司很快就陷入了水深火熱的境地，每月錄得100萬美元的虧損。高管們表示，他們希望通過將用户數據貨幣化，並將ADS出售給電影和連鎖影院來產生收入，但這些計劃從未實現。在推出MoviePass之前，Helios and Matheon是一家小型數據分析公司。該股已跌至零。
-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com
-Ciara Linnane；415-439-6400；AskNewswres@dowjones.com
(END) Dow Jones Newswires
(完)道瓊通訊社
January 29, 2020 10:11 ET (15:11 GMT)
2020年1月29日美國東部時間10：11(格林尼治標準時間15：11)
Copyright (c) 2020 Dow Jones & Company, Inc.
版權所有(C)2020道瓊斯公司。
譯文內容由第三人軟體翻譯。
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