![]() Helios and Matheson has a complicated history as a Nasdaq-listed company. "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." ![]() "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," Helios and Matheson CEO Ted Farnsworth said in a statement on the spin-off, using an abbreviation for Helios and Matheson. The reverse split is an attempt to raise Helios and Matheson's stock price to avoid delisting from the Nasdaq, which could happen as soon as mid-December. It also came days before a crucial shareholders meeting set to take place November 1, when Helios and Matheson is expected to seek authorization for a 1-for-500 reverse stock split - a move some investors are against. The announcement came just days after the New York attorney general's office said it was investigating Helios and Matheson to determine whether the company misled investors, a claim the company denied. On Tuesday, MoviePass' parent company, Helios and Matheson Analytics, announced a " preliminary plan" to spin off MoviePass and its related entertainment assets into a separate public company. Account icon An icon in the shape of a person's head and shoulders.
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