HELIOS AND MATHESON ANALYTICS INC. (NASDAQ:HMNY) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 25, 2018, Carl J. Schramm resigned from the Board of Directors (the “Board”) of Helios and Matheson Analytics Inc. (the “Company”) and each Board committee of which he was a member. Prior to his resignation, Mr.Schramm was a member of the Audit Committee, the Compensation Committee, the Nominating and Corporate Governance Committee and the Pricing Committee. Mr. Schramm had served as a member of the Board and its Audit Committee, Compensation Committee and Nominating and Corporate Governance Committee since November 9, 2016 and as a member of the Pricing Committee since December 10, 2017.
In a letter dated August 25, 2018, Mr.Schramm claims that for the past several months he sought information about the Company’s financial status, operations, and strategy, and objected to the timing provided Board members to consider various complex issues.
The Company is unaware of any unanswered requests for information by Mr. Schramm. The Board and committees of which Mr. Schramm was a member have met at least 25 times at duly convened meetings thus far in 2018, and the Company firmly believes that it has kept the Board fully informed and has provided all information needed for Board members to exercise their responsibilities.
The Company experienced unprecedented and unanticipated growth since acquiring a majority stake in MoviePass Inc. in August 2017. The issues associated with this growth have placed significant demands on the Company’s management and its Board, as evidenced by the substantial number of Board and committee meetings referenced above, but the Company firmly believes all Board and committee meetings have been duly noticed and held, and no material information has been withheld from any Board member.
A copy of Mr.Schramm’s resignation letter is included as Exhibit 17.1 to this Current Report on Form 8-K. The foregoing summary of Mr. Schramm’s resignation letter is qualified in its entirely by reference to such exhibit.
Item 5.02. Financial Statements and Exhibits.
(d) Exhibits
Helios & Matheson Analytics Inc. ExhibitEX-17.1 2 f8k082518ex17-1_heliosandma.htm CARL J. SCHRAMM RESIGNATION LETTER,…To view the full exhibit click here
About HELIOS AND MATHESON ANALYTICS INC. (NASDAQ:HMNY)
Helios and Matheson Analytics Inc. is an information technology services company. The Company offers its clients a suite of services of predictive analytics with technology. The Company provides offerings in the areas of application value management, application development, integration, independent validation, infrastructure and information management, and analytics services. The Company offers an integrated service of Big Data technology, analytics, domain knowledge in the areas of financial services and healthcare, including data visualization. The Company’s clients operate in a range of industries with a concentration in the banking, financial services, insurance and healthcare industries.
