Company Investors: Helios Matheson

company investors: The move is a bid to restore the reputation of Helios & Matheson after it lost nearly 100 per cent of its value this year, hammered by concerns that Movie Pass's losses will torpedo the company, according to The Toronto Star. Investors applauded the spinoff idea, sending shares of Helios & Matheson up as much as 51 per cent on Tuesday. Helios & Matheson Analytics Inc., which acquired Movie Pass last year and soon became synonymous with the service, plans to spin off the entity as a publicly held company on the Nasdaq Stock Market. Still, that only brings the beleaguered stock to 2.6 cents. Our shareholders and the market perception of HMNY might benefit from separating our movie-related assets from the rest of our company, Chief Executive Officer Ted Farnsworth said in a statement, referring to Helios & Matheson's stock ticker. Though Movie Pass became a cultural phenomenon attracting millions of customers with its promise of seeing a new movie in the theatre every day for 9.95 a month the mounting red ink and frequently changing subscription terms turned the service into a burden. (news.financializer.com). As reported in the news.