After considering strategic alternatives, Helios and Matheson Analytics Inc. (Company), and its subsidiaries MoviePass Inc. and Zone Technologies Inc., 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. Prathap Singh, Gavriel Ralbag, Muralikrishna Gadiyaram and Joseph Fried tendered their resignations as members of the Company's Board of Directors effective upon filing the Petition.

Mr. Singh, Mr. Ralbag, Mr. Gadiyaram and Mr. Fried have all resigned due to the Company's filing of the Petition which effectively eliminates the powers of the Company's Board of Directors. Following the resignations of Mr. Singh, Mr. Ralbag, Mr. Gadiyaram, and Mr. Fried, the Company will have no members serving on its Board of Directors. Parthasarathy Krishnan tendered his resignation as the Company's Interim Chief Executive Officer effective upon filing the Petition.

Mr. Krishnan resigned due to the filing of the Petition which effectively eliminates the powers Mr. Krishnan previously held on behalf of the Company. Robert Damon tendered his resignation as the Company's Interim Chief Financial Officer and Secretary, effective upon filing the Petition. Mr. Damon resigned due to the Company's filing of the Petition which effectively eliminates the powers Mr. Damon previously held on behalf of the Company.