Helios & Matheson Analytics, the parent company of movie ticketing service MoviePass, has now officially been delisted from the NASDAQ stock exchange with shares in the company now trading over the counter.
Warnings of this possibility were relayed in SEC filings in recent months as companies cannot have their shares trade below $1 for extended periods. Helios stock has been worth less than two cents a share for several months now.
A Nasdaq review panel disclosed its decision on Monday and a company filing indicates it does not intend to appeal the determination of the panel at this time.
Officials reportedly still intend to spin off the MoviePass business into its own separate unit, while press releases touted the start of production on the Al Pacino-led “Axis Sally”.