MoviePass’s parent files to spin off the ailing film-subscription service

Helios & Matheson Analytics Inc. on Thursday said it has filed confidentially with the Securities and Exchange Commission to spin off its cinema discount-ticketing service MoviePass.

The company said it would spin off the service back in October, when its board approved a plan to create a subsidiary called MoviePass Entertainment Holdings Inc. The subsidiary would hold the company’s subscription-service and film-production arm and be spun off as a separate publicly traded company.

On Thursday, the company said it would apply to list on Nasdaq or an alternative exchange, and distribute some of MoviePass shares as a dividend to shareholders as of a record date yet to be determined.

The company immediately slashed the monthly fee to $9.95 a month from up to $50 a month, allowing subscribers to see a film of their choice every day.

With its stock crashing, the company sold preferred stock and convertible notes and filed a shelf registration to raise $1.2 billion over three years by issuing equity and debt.

New York Attorney General Barbara Underwood has launched a securities fraud investigation into the company.

Read now: AMC’s subscription program now offers a better deal than MoviePass.

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Learn to securely share files on the blockchain with IPFS!

If the blockchain can barely sustain small strings of text that simply record a balance transfer between two parties, how on earth are we ever going to store large files or images on the blockchain? Are we just going to have to be OK with limiting the utility of the blockchain to things that can only be captured in tiny text strings?

As long as anyone has the hash of the PDF file, they can retrieve it from IPFS. So sensitive files are not well suited for IPFS in their native states.

Unless we do something to these files, sharing sensitive files like health records or images is a poor fit for IPFS.Enter Asymmetric EncryptionLuckily, we have tools at our disposable that pair very nicely with IPFS to secure files before uploading them to IPFS. Asymmetric encryption allows us to encrypt a file with the public key of the intended recipient so that only they can decrypt it when they retrieve it with IPFS. A malicious party who retrieves the file from IPFS can’t do anything with it since they can’t decrypt it.

The second computer simulates a person with whom you want to securely share your files.

Secured sensitive files using GPG and stored them on IPFS.Understood hashing in IPFS and how we can store the hashes on the blockchain to combine the strengths of the blockchain with distributed file storage.

The drawback to IPFS is that if your files aren’t very popular, when you stop your node, your file is gone from the IPFS network.

Once you’ve gone through those, try integrating IPFS and blockchain with your own large, encrypted files.

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