MidBoss, the independent developer and publisher known for the cyberpunk adventure game "2064: Read Only Memories" and its recent sequel "Neurodiver," has filed for Chapter 7 bankruptcy. The voluntary petition, submitted in June, reveals the company possesses assets and property valued at only $2,560 while owing creditors more than $823,000.
The extensive list of debts includes approximately $138,980 across four separate loans, $64,000 owed to an individual as revenue share, and $87,985 in royalty shares to about a dozen individuals. The company also carries $36,099 in credit card debt, $7,000 owed to Chase Bank, and a disputed equity claim totaling $404,538 from Tom Kaitchuck.
Further financial obligations include a shareholder loan repayment of $70,922 and a royalty share of $13,748 owed by Matt Conn, who is listed as the interim CEO on the bankruptcy filing. Conn, a co-founder of MidBoss, originally established the company in 2013. He had previously stepped down from his leadership role in 2018 following accusations of abuse and sexual harassment from former employees, though he retained a 40 percent stake in the company.
Following Conn's departure, Cade Petersen served as interim CEO until 2025, after which Alexander Mehrer took over. Mehrer's tenure reportedly involved restructuring efforts, including reassembling contracts, addressing risks, and reopening revenue streams before he departed in August of last year. According to the filing, Conn appears to have reassumed a leading role since then, maintaining his significant ownership stake.
The company's intellectual property, including the "Read Only Memories" franchise and the "Gaming in Color" documentary, are listed as assets without a specified monetary value. The future of these properties, as well as MidBoss's in-progress titles "All AI Must Die" and "The Artificial Artist," remains uncertain following the bankruptcy proceedings. "Neurodiver," released in 2024 after multiple delays, received mixed reviews.