Ted Farnsworth, the CEO of MoviePass owner Helios & Matheson Analytics, shot down speculation about the company’s future, insisting that bankruptcy isn’t on the table despite months of bad press and service restrictions that have sent the company’s stock price to barely north of a single penny.
“We’re still here, and we’re not going anywhere,” Farnsworth told TheWrap CEO Sharon Waxman on Tuesday during TheGrill and revealed that the company raised an additional $65 million in new funding last month. (He declined to specify the source or terms of the investment.)
“We’re doing M&A, we’re looking at all kinds of acquisitions at any given time and we’ll grow the company that way and I think you’ll see over the next few weeks,” Farnsworth said at the SLS Hotel in Beverly Hills.