![]() With the diluting and discount on the shares, prior investors indicated their unhappiness with the company on Twitter. Most of the proceeds were used to fund MoviePass. In April 2018, Helios sold $150 million in stock with $30 million of the shares at $2.75, a discount from the closing market price of $3.83. In March 2018, the board of directors began the process to spin off Zone Technologies to shareholders as a separate, publicly traded company, with the hope that it would allow Helios to focus on its strengths. As part of the transaction, Verizon took an equity stake in MoviePass. In April 2018, Helios acquired the movie listings website Moviefone from Verizon's digital media subsidiary, Oath Inc. In January 2018, co-founder Stacy Spikes was fired from the company. Another $35 million in advances converted to capital put Helios at 91.8 percent, allowing for a merger unilaterally initiated by the Helios board. This increased Helios' ownership stake from 62.4 percent to 81.2 percent. MoviePass then converted the advances from debt to equity. Helios advanced MoviePass $55 million from December to February 20, 2018. In August 2017, Helios purchased a majority stake in MoviePass. Zone founder Ted Farnsworth was appointed chairman of Helios, and then, in January 2017, became Helios's CEO. The company acquired Zone Technologies, maker of the RedZone Map app, in November 2016. The company again changed its name in 2011 to Helios & Matheson Information Technology Inc., to reflect that it was seeking business opportunities worldwide, and then in 2013 to Helios and Matheson Analytics, to reflect that the business had "moved beyond IT". The A Consulting Team changed its name in 2007 to Helios & Matheson North America, to highlight its association with the parent company. In 2006, Helios & Matheson Information Technology Ltd., an IT consulting firm based in India, purchased a majority stake in the company. The company made its initial public offering in 1997. It changed its name later that year to The A Consulting Team. The company was founded in 1983 by Shmuel BenTov as Software Ben-Tov. ![]() The company became widely known during its final years for acquiring and subsequently operating MoviePass, which ultimately led to the company's bankruptcy. IG International Limited receives services from other members of the IG Group including IG Markets Limited.Helios and Matheson Analytics was a publicly traded data analytics company based in New York City, New York. IG International Limited is part of the IG Group and its ultimate parent company is IG Group Holdings Plc. ![]() The information on this site is not directed at residents of the United States and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. The information in this site does not contain (and should not be construed as containing) investment advice or an investment recommendation, or an offer of or solicitation for transaction in any financial instrument. IG International Limited is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority. You should consider whether you understand how this product works, and whether you can afford to take the high risk of losing your money.ĬFD Accounts provided by IG International Limited. ![]() CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail client accounts lose money when trading CFDs, with this investment provider. The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate. ![]()
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