Helios and Matheson, the parent company of the popular movie subscription service, said that it had a service outage on Thursday because it couldn't afford to pay for movie tickets. The company borrowed $5 million in cash Friday to pay its merchant and fulfillment processors, according to a regulatory filing. Helios and Matheson missed a payment to one of its fulfillment processors, and that contractor temporarily refused to process payments for MoviePass. Some customers complained on social media Thursday that they couldn't use their MoviePass accounts to purchase movie tickets at theaters. By Friday afternoon, MoviePass said that its app was "now up-and-running with stability at 100%."

Source: CNN July 27, 2018 15:23 UTC