Helios and Matheson (HMNY), owner of Movie Pass, files Chapter 7 Bankruptcy

Helios and Matheson (NASDAQ: HMNY), owner of Movie Pass, files Chapter 7 Bankruptcy

After considering strategic alternatives, Helios and Matheson Analytics Inc., a Delaware corporation (the “Company”), and its subsidiaries MoviePass Inc., a Delaware corporation, and Zone Technologies Inc., a Nevada corporation, each filed a voluntary petition for relief (the “Petition”) under the provisions of Chapter 7 of Title 11 of the United States Code, 11 U.S.C. §§ 101 et seq. (the “Code”) in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) on January 28, 2020. The proceedings are styled “In Re: Helios and Matheson Analytics Inc.”, “In Re: MoviePass Inc.”, and “In Re: Zone Technologies, Inc.”. As a result of filing the Petition, a Chapter 7 trustee will be appointed by the Bankruptcy Court to administer the estate of the Company and to perform the duties set forth in Section 704 of the Code.

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