As frustrations on service and peak prices go up, MoviePass users are looking at other options

MoviePass users were unhappy last weekend, problems affecting the subscription service to the film and leaving many enthusiastic moviegoers.

After a service outage on Thursday night, which parent company of MoviePass, Helios and Matheson Analytics Inc.

HMNY, -60.00%

stated on Friday that the deposit of securities was due to the inability to make "mandatory payments to its traders", complained of others problems Saturday and Sunday.

MoviePass apologized to its customers on Twitter on Thursday and said Friday that it solved all service issues. But over the weekend, users have again encountered problems, flooding the company's Twitter account with complaints about their electronic ticketing and registration issues.

Users were particularly indignant at being unable to view "Mission: Impossible – Fallout," which was released last weekend. According to MoviePass, "Fallout" was available only in partner electronic ticketing rooms, which are rare.

For many, weekend service issues coupled with supplements for several popular movies have been the drop of water. Users have threatened to cancel their subscriptions and go elsewhere, some specifically citing AMC

AMC, -2.23%

A-List Stubs, a more expensive option that allows subscribers to watch up to three movies a week priced at $ 19.95, but do not not charge the peak price supplements.

A spokesman for Helios and Matheson declined to comment on the problems experienced by subscribers this weekend.

MoviePass launched "peak pricing" earlier this month, where users would be charged extra for popular movies and show hours. "You can avoid the surcharge by selecting a different program or movie," wrote MoviePass in its initial announcement to users.

The peak price is MoviePass's profitability attempt, said research analyst Michael Pachter of Wedbush Securities, but users are not satisfied.

Shareholders are also unhappy. The shares of Helios and Matheson fell 100% last year and set up a stock split of 1 against 250 last Tuesday at the close of the market, which pushed the stock price of 21 cents to 21.25 dollars. Analysts have seen in this decision a way to prevent write-off of the company because a company may be delisted if it exchanges less than $ 1 for 30 days consecutive, according to Nasdaq rules. But Monday, the stock was grazing just above, at $ 1.06 a share.

Helios and Matheson struggled last year to stay afloat, and the company turns to more and more expensive loans to raise money. On Friday, MoviePass's parent took out a $ 6.2 million expensive loan from Hudson Bay Capital Management, which paid him $ 1.2 million to receive $ 5 million in cash. Helios and Matheson also agreed to pay late fees of 15% annualized interest after any default and repay the debt at a high redemption price of 130%. The loan conditions are strict; Hudson's Bay may require payment of half of the loan amount on August 1 and the rest on August 5.

But investors are not convinced that the loan will make a difference in the good fortune of the company. "How long can it last?" Said Pachter, referring to the borrowed money. In an April filing, the company said its average cash deficit was $ 21.7 million a month from September to April. In a June filing, the company said it had only $ 18.5 million in cash available by the end of May, and that its monthly cash deficit was increasing.