MoviePass couldn’t afford to pay for movie tickets on Thursday

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MoviePass is on life support.

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.

See more at CNN Money

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