{"id":41010,"date":"2026-08-04T07:03:06","date_gmt":"2026-08-04T07:03:06","guid":{"rendered":"https:\/\/gaitgames.com\/?p=41010"},"modified":"2026-08-04T07:03:06","modified_gmt":"2026-08-04T07:03:06","slug":"indie-game-developer-initiates-bankruptcy-proceedings-burdened-by-more-than-800000-debt","status":"publish","type":"post","link":"https:\/\/gaitgames.com\/?p=41010","title":{"rendered":"Indie Game Developer Initiates Bankruptcy Proceedings, Burdened by More Than $800,000 Debt"},"content":{"rendered":"<div class=\"media_block\"><img decoding=\"async\" src=\"https:\/\/gaitgames.com\/wp-content\/uploads\/2026\/08\/indie-game-developer-initiates-bankruptcy-proceedings-burdened-by-more-than-800000-debt.jpg\"><\/div>\n<p>MidBoss, the developer and publisher famous for the story-centric titles *2064: Read Only Memories* and its follow-up *Neurodiver*, has recently submitted a Chapter 7 bankruptcy petition. This voluntary filing made in June exposes a grim financial situation for the firm, which documents merely $2,560 in assets while encumbered by a significant debt of $823,272 owed to diverse creditors.<\/p>\n<p>The debt analysis includes $138,980 distributed among four loans, a notable $64,000 as revenue share owed to an individual, and royalty payments to roughly twelve individuals, totaling $87,985. Additionally, MidBoss contends with $36,099 in credit card obligations, $7,000 due to Chase Bank, and a contested claim of $404,538 owed to Tom Kaitchuck. Also highlighted in the filing is a shareholder loan amounting to $70,922 and a royalty share of $13,748 owed to Matt Conn, the interim CEO who authorized the bankruptcy. Conn, a co-founder of MidBoss, previously resigned in 2018 following serious allegations of abuse and sexual harassment. Following a brief leadership by Cade Petersen, who held the position until 2025, Alexander Mehrer assumed control. Conn, despite earlier controversies, continues to maintain a 40% ownership interest in the firm.<\/p>\n<p>The financial report suggests that the intellectual property (IP) associated with *Read Only Memories* and the *Gaming in Color* documentary are listed as assets, albeit with no assigned value. This situation raises questions regarding the future of the *Read Only Memories* series, especially given that the sequel, *Neurodiver*, has experienced several delays since its announcement and ultimately garnered mixed reviews upon its 2024 release.<\/p>\n<p>MidBoss&#8217;s website features two forthcoming projects, *All AI Must Die* and *The Artificial Artist*, yet their present development status remains unclear following the insolvency filing.<\/p>\n<p>Kotaku has contacted MidBoss for further insights into the situation as the company maneuvers through this challenging period in its operations.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"media_block\"><img decoding=\"async\" src=\"https:\/\/gaitgames.com\/wp-content\/uploads\/2026\/08\/indie-game-developer-initiates-bankruptcy-proceedings-burdened-by-more-than-800000-debt.jpg\"><\/div>\n<p>MidBoss, the developer and publisher famous for the story-centric titles *2064: Read Only Memories* and its follow-up *Neurodiver*, has recently submitted a Chapter 7 bankruptcy petition. This voluntary filing made in June exposes a grim financial situation for the firm, which documents merely $2,560 in assets while encumbered by a significant debt of $823,272 owed to diverse creditors.<\/p>\n<p>The debt analysis includes $138,980 distributed among four loans, a notable $64,000 as revenue share owed to an individual, and royalty payments to roughly twelve individuals, totaling $87,985. Additionally, MidBoss contends with $36,099 in credit card obligations, $7,000 due to Chase Bank, and a contested claim of $404,538 owed to Tom Kaitchuck. Also highlighted in the filing is a shareholder loan amounting to $70,922 and a royalty share of $13,748 owed to Matt Conn, the interim CEO who authorized the bankruptcy. Conn, a co-founder of MidBoss, previously resigned in 2018 following serious allegations of abuse and sexual harassment. Following a brief leadership by Cade Petersen, who held the position until 2025, Alexander Mehrer assumed control. Conn, despite earlier controversies, continues to maintain a 40% ownership interest in the firm.<\/p>\n<p>The financial report suggests that the intellectual property (IP) associated with *Read Only Memories* and the *Gaming in Color* documentary are listed as assets, albeit with no assigned value. This situation raises questions regarding the future of the *Read Only Memories* series, especially given that the sequel, *Neurodiver*, has experienced several delays since its announcement and ultimately garnered mixed reviews upon its 2024 release.<\/p>\n<p>MidBoss&#8217;s website features two forthcoming projects, *All AI Must Die* and *The Artificial Artist*, yet their present development status remains unclear following the insolvency filing.<\/p>\n<p>Kotaku has contacted MidBoss for further insights into the situation as the company maneuvers through this challenging period in its operations.<\/p>\n","protected":false},"author":1,"featured_media":41011,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-41010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/gaitgames.com\/index.php?rest_route=\/wp\/v2\/posts\/41010","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gaitgames.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gaitgames.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gaitgames.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gaitgames.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41010"}],"version-history":[{"count":0,"href":"https:\/\/gaitgames.com\/index.php?rest_route=\/wp\/v2\/posts\/41010\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gaitgames.com\/index.php?rest_route=\/wp\/v2\/media\/41011"}],"wp:attachment":[{"href":"https:\/\/gaitgames.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gaitgames.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gaitgames.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}