If the Company is unable to make required payments to its merchant and fulfillment processors, the merchant and fulfillment processors may cease processing payments for MoviePass, Inc. (“MoviePass”), which would cause a MoviePass service interruption.
If you’re a MoviePass subscriber and tried to use the app on Thursday night to see a film, it probably didn’t happen.
The ticketing service tweeted on Thursday evening that they were experiencing technical issues with the card check-in service.
The $5.0 million cash proceeds received from the Demand Note will be used by the Company to pay the Company’s merchant and fulfillment processors.