First, MoviePass announced that it would raise prices to $14.95 and bar major blockbusters from the app, at least for the first few weeks of release. MoviePass then made drastic changes meant to bolster its business model. After the service shut off in late July because the company ran out of money, Helios took an emergency loan of $5 million to turn it back on. The company subsidizes the tickets its users buy, however, and with advertising and other anticipated partnerships failing to have a major impact it has struggled to control its monthly cash burn, which rose to an estimated $45 million in July. Over 3 million subscribers have flocked to the service, which last year began allowing subscribers to see one movie a day in theaters for $9.95 a month. The past two months have been tumultuous for MoviePass and its parent company. He'd served on the board of Helios since November 2016, a few months before the company took a majority stake in the popular movie-theater-subscription app MoviePass last summer. Schramm is a professor at Syracuse University who previously ran the Ewing Marion Kauffman Foundation, a nonprofit focused on entrepreneurship and education. "Just last week, I learned that management withheld material information from the board for several months." "These concerns have increased substantially over the past eight weeks as management apparently has made a number of important corporate decisions and executed significant transactions either without board knowledge or approval, or in board meetings initiated with only a few hours of advance notice by email (at least one of which I did not even know had been called until the meeting had concluded)," Schramm continued. He also accused management of not giving the board "sufficient time" to examine "complex documents, to review significant transactions, or to discuss how the proposed actions fit into the company's strategic plan." In Schramm's resignation letter, he said that for several months he'd raised "questions and expressed concerned about the corporate governance" of Helios, and he accused management of withholding material information from the board for months. It often indicates a user profile.Ĭarl Schramm has resigned from the board of MoviePass' parent company, Helios and Matheson Analytics, the company disclosed in a Securities and Exchange Commission filing Thursday. The surrounding area also consists of numerous recreational areas, including Maule Lake, Snake Creek Park, Allen Park, Oleta River State Park and Aqua Bowl Park.Account icon An icon in the shape of a person's head and shoulders. The site is centrally located, providing easy access to I-95 (Interstate 95), Florida’s Turnpike, Aventura, Sunny Isles, Miami Beach and Biscayne Boulevard. The 9th floor will have a south-facing sky park and the roof deck on the 20th floor will have 7,500 sf of potential amenity space. The 8th floor will have a 3,860 sf interior amenity space and a 4,500 sf pool deck with a 20’x50’ pool. The complex consists of a ground-level lobby with retail availability, a garage deck with 485 parking spots and over 200 rentable lockers for tenants. The Residential Balconies will be designed with a façade projection that acts as a vertical ribbon to add some privacy between individual units’ balconies. The South Façade from the 1st-8th Floor will also have open areas on the facades for large-scale murals or artwork to be designed. This will provide a large south-facing façade for the Residential Tower and a Sky Garden on the 9th floor which allows for constant natural sunlight and unobstructed The project will be called “The Helios”, which is derived from the Greek word for sun, which corresponds to the plan of the building’s elongated tower which will be oriented East to West. “We are so excited to get started on this and to give this community a top-of-the-line residential complex representative of Hidrock standards.” “We are thrilled to have this opportunity in a prime location in North Miami Beach,” said Eddie Hidary, Principal at Hidrock Properties. Hidrock is also in the planning phase with 2 other development projects for a total of approximately 1,000 units across the Miami market. The development would be a 20-story 378-unit apartment complex with retail at its base, capitalizing on the sustained growth and expansion of the nearby Aventura and Sunny Isles markets. After its acquisition of 1700 NE 164th Street just 2 months ago, Hidrock Properties is pleased to announce it has successfully filed for site plan approval for the project with the city of North Miami Beach.
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |