- Helios and Matheson Analytics (OTCPK:HMNY -7.3%) announces that its ownership stake in MoviePass is now up to approximately 78%.
- The company says the increase in ownership stems from cash advances provided by HMNY to MoviePass from December 19, 2017 through February15, 2018 to support MoviePass’ working capital and operational requirements.
- The total amount advanced by Helios to MoviePass during the period detailed totaled $45.525M.
- "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,” says Helios CEO Ted Farnsworth.
- Source: Press Release