Carl J. Schramm has resigned from the MoviePass Board of Directors, saying that the ticketing company withheld important financial information and made influential decisions without the board’s input.
In a letter dated Aug. 25, Schramm wrote, “Just last week, I learned that management withheld material information from the Board for several months. These and other actions have interfered with my ability to exercise my responsibilities as a board member. Taken together, they confirm that, despite my best efforts, my ability to effectively discharge my duties as a director has been compromised beyond repair.”
He added, “Accordingly, effective immediately, I hereby resign from the Board of Directors of Helios and Matheson Analytics, Inc., and from any and all committees of which I am a member.”
MoviePass parent company Helios and Matheson Analytics, Inc., in an SEC filing, responded, “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.”
Additionally, “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.”
Schramm is the former CEO of the Ewing Marion Kauffman Foundation, a non-profit organization that promotes entrepreneurship.
MoviePass and its parent company Helios & Matheson Analytics have suffered a tumultuous, often depressing summer. In the last three months alone Helios & Matheson’s stock has declined 99 percent as the company has pulled out nearly all the stops to try to buoy a sinking MoviePass.
Earlier this month, MoviePass settled on a new plan for subscribers, making tweaks to its business and service, after a run of back-and-forth announcements that saw the company promise at one point to raise the monthly price to $15. That didn’t ultimately happen.
Since acquiring MoviePass last August, Helios & Matheson has poured tens of millions of dollars into the company, as it fueled subscriber growth. MoviePass managed to sign up roughly 3 million users in less than a year after initially overhauling its business in August 2017. However, in its most recent quarterly filing with the Securities and Exchange Commission, Helios & Matheson said it had a net loss of $63.4 million for the three months ending June 30.
30 Highest Grossing Animated Movies of All Time Worldwide
A look at top animated moneymakers as of May 2020, from "The Lion King" to "Zootopia." The numbers are not adjusted for inflation.
30. "The Incredibles" (2004)
Worldwide Gross: $633,019,734
In 2004, Brad Bird's first Pixar outing wowed audiences with complicated animated action scenes, cross-generational comedy and superhero mayhem.
Pixar Animation Studios
29. "Sing" (2016)
Worldwide Gross: $634,151,679
Illumination's animal-karaoke musical crooned its way onto the list.
28. "Moana" (2016)
Worldwide Gross: $643,331,111
Disney's Hawaii-set movie scored two Oscar nominations, for Best Animated Feature and Lin-Manuel Miranda's song "How Far I'll Go."
Disney
27. "Big Hero 6" (2014)
Worldwide Gross: $657,818,612
Disney's 2014 robot tale combined anime aesthetics, superhero action and Pixar's heart.
Disney Animation Studios
26. "Ice Age: The Meltdown" (2006)
Worldwide Gross: $660,940,780
Fox's 2006 prehistoric romp proved the success of the first was no fluke.
Twentieth Century Fox
25. "Kung Fu Panda 2" (2011)
Worldwide Gross: $665,692,281
With the franchise's skills proven, DreamWorks Animation gave the world another hit of comedy with this animated martial arts sequel in 2011.
Dreamworks Animation Studios
24. "Up" (2009)
Worldwide Gross: $735,099,082
The 2009 fan favorite demonstrated that original ideas with big emotions could make big money.
Pixar Animation Studios
23. "Monsters University" (2013)
Worldwide Gross: $744,229,437
Ten years after the release of "Monsters Inc," Pixar sent fans back to school in a 2013 prequel.
Pixar Animation Studios
22. "Madagascar 3: Europe's Most Wanted" (2012)
Worldwide Gross: $746,921,274
DreamWorks Animation's "Madagascar" series kept the studio afloat with a string of breezy successes, including 2012's third installment.
Dreamworks Animation Studios
21. "Shrek Forever After" (2010)
Worldwide Gross: $752,600,867
The big green ogre's final chapter dropped in 2010.
Dreamworks Animation Studio
20. "Shrek the Third" (2007)
Worldwide Gross: $798,958,162
Made in 2007, this sequel proved there was still some gas left in this fantasy mash-up comedy franchise.
Dreamworks Animation Studio
19. "Coco" (2017)
Worldwide Gross: $807,082,196
Directed by Lee Unkrich, this animated film captured everyone's hearts and even won the Academy Award for Best Animated Feature in 2018.
Disney/Pixar
18. "Inside Out" (2015)
Worldwide Gross: $857,611,174
Disney Pixar hit the home run again with this animated feature film about the emotions inside your head, starring Amy Poehler, Mindy Kaling and Bill Hader.
Disney/Pixar
17. "The Secret Life of Pets" (2016)
Worldwide Gross:$875,457,937
Universal/Illumination's story of dogs seeking out adventure while their owners are away charmed its way onto the list.
Profits abound for this 2012 fourth installment in the chilly prehistoric franchise, followed just behind it's predecessor.
Twentieth Century Fox Animation
15."Ice Age: Dawn of the Dinosaurs" (2009)
Worldwide Gross: $888,805,671
While other films have made bigger waves in the States, international sales have always returned big money for Fox's "Ice Age" franchise, proven again by the 2009 entry.
Twentieth Century Fox Animation
14. "Shrek 2" (2004)
Worldwide Gross: $919,838,758
DreamWorks Animation proved to be worthy Pixar competition with its successful "Shrek" franchise.
Dreamworks Animation Studio
13. "Finding Nemo" (2003)
Worldwide Gross: $940,335,536
"Finding Nemo" was something of a second-wind for Pixar, solidifying the company's place as the titans of modern animation.
Pixar Studios
12. "The Lion King" (1994)
Worldwide Gross: $968,483,777
Can you feel the love tonight for this Disney animated classic?
Disney Animation Studios
11. "Despicable Me 2" (2013)
Worldwide Gross: $970,761,885
Illumination's sequel managed to make more money than its predecessor and put the upcoming "Minions" spin-off into motion.
Illumination Studios
10. "Zootopia" (2016)
Worldwide Gross: $1,023,784,195
Disney charmed audiences in 2016 with its cop thriller pairing a rookie rabbit cop and a wily fox informant.
Disney
9. "Finding Dory" (2016)
Worldwide Gross: $1,028,570,889
The sequel to "Finding Nemo" swam right back into audience's hearts.
Pixar
8. "Despicable Me 3" (2017)
Worldwide Gross: $1,034,799,409
Illumination's follow-up -- featuring Gru's blond-haired brother -- became the franchise's biggest grosser.
7. "Toy Story 3" (2010)
Worldwide Gross: $1,066,969,703
Built on Pixar's critical and commercial goodwill, the third installment in the mega-franchise brought in big profits.
Pixar Studios
6. "Toy Story 4" (2019)
Worldwide Gross: $1,073,394,593
Nearly two decades after the last film, Woody and Buzz and the gang returned for the top-grossing film in the series (not adjusted for inflation, that is).
Disney
5. "Minions" (2015)
Worldwide Gross: $1,159,398,397
The little yellow helpers crossed the $1 billion mark at the end of August, raking in more money then "Despicable Me" and "Despicable Me 2" for Universal Pictures.
Universal Pictures/Illumination Entertainment
4. "Incredibles 2" (2018)
Worldwide Gross: $1,242,805,359
The superpowered family sprung back into action a full 14 years after the original -- but far surpassed the original film's box office haul.
Disney/Pixar
3. "Frozen" (2013)
Worldwide Gross: $1,276,480,335
Disney's 2013 smash-hit takes the box office top spot. And then there was merchandising, video on demand and home video that audiences just couldn't let go...
Disney Animation Studios
2. "Frozen II" (2019)
Worldwide Gross: $1,450,026,933
Though it failed to garner an Oscar nom for Best Animated Feature, this sequel still managed to outgross its predecessor.
1. The Lion King (2019)
Worldwide Gross: $1,631,724,000
Whether the film is animated or live-action has been up for debate, the new "Lion King" was computer animated, so we're putting it on the list.
Disney
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Cartoon characters that cleaned up at the global box office, from ”The Lion King“ to ”Incredibles 2“
A look at top animated moneymakers as of May 2020, from "The Lion King" to "Zootopia." The numbers are not adjusted for inflation.