Helios and Matheson Analytics Inc. now owns approximately 92% of the outstanding shares (excluding options and warrants) of MoviePass Inc., 100% of the outstanding membership interests in MoviePass Ventures LLC, 51% of the outstanding membership interests in MoviePass Films LLC, and the Moviefone™ brand and service. Moving forward, all options are on the table, with MoviePass parent company Helios and Matheson Analytics saying it's considering, among other things, selling itself off entirely.
After a long bout with terminal bad ideas, MoviePass has died at the age of eight. The service returned shortly thereafter, but the drama continued.
MoviePass also said it is "unable to predict if or when the MoviePass service will continue", but does hope "to find a path that will enable us to continue the service in the future". Of course, that didn't happen.
The most recent round of news included massive layoffs for company staff, and a report from TechCrunch that the company exposed "tens of thousands of customer card numbers and personal credit cards because a critical server was not protected with a password".
In an attempt to put the company's earnings in the black, MoviePass switched from an " all-you-can-watch" type of business to a $9.95/month service that offered subscribers the possibility to watch three movies per month. On top of that, technical problems plagued the app, certain screenings were completely locked-out, and customer service was non-existent. Nevertheless, MoviePass™ remained committed to leading and competing in an industry that is resistant to outside competition and change.