MoviePass borrowed $5M to end yesterday’s outage
https://techcrunch.com/2018/07/27/moviepass-outage/
More bad news for subscription movie ticket service MoviePass, which acknowledged yesterday that there was an unidentified issue preventing people from using their MoviePass credit cards to get tickets.
A regulatory filing from parent company Helios & Matheson offers more insight about what happened. The filing (first spotted by Business Insider) announces a “demand note” of $6.2 million, including $5 million in cash that the company borrowed. It goes on to explain: