Loom - MPE Controller

Very very bad news today, torn between a small remnant of hope and a great resignation at the idea of ​​having lost everything, sad… :
“However, if we do not succeed in securing new investments or partnerships in the coming weeks, we will be left with no other choice but to file for bankruptcy.”

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That would be very sad indeed. :frowning:
Where did you hear this?

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I saw post on Elektronauts, but the full post is available as a Kickstarter update :frowning:

https://www.kickstarter.com/projects/aodyo-anyma-phi/loom-multidimensional-mpe-midi-controller/posts/4208101

its not only hard to hear for the kickstarter project,
but also for Aodyo generally, as they’ve built some great stuff, let’s hope their dreams dont die and they can find a way through. :heart:

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Oh - fingers crossed!

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Sad, a bit angry too about how it seems they handled this disaster, driving two projects at the same time while knowing their economy was very fragile. Though they did about 3 times what they aimed for in KS. And then no refund.

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yeah, if they are lacking cashflow (most likely), then refunds would not be an option… it would drive into insolvency, and then it’d be down to administrator to decide which creditors get what.
(at least in UK, not show where they are based, and laws there)

tis odd, that both projects were overfunded multiple times.
but Ive noticed on a lot of KS projects the funding limit seems to be set a low level, not sure if this is optimism (of costs) or what.

and yeah… I agree running two projects in parallel (in hindsight !) seems very risky.

but perhaps Loom was created to help ease the cash flow of Omega to delivery… which once delivered, would have new sales to then fund Loom.

again… cashflow is usually the killer of small companies.

it appears to be the case here… a couple of projects they are having difficulty getting over the line, but if they did… then this would ease the whole situation and make the company viable.

which is what they will be ‘selling’ to banks and potential investors.

in that sense there is hope… they have viable products, but they need cash to get them over the line.

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They saw it coming since several months. They should have communicated, they could have stopped some expenses or even a whole project. May be the sale price was totally unrealistic…many questions, but these are no signs of a great management to,me

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Wow, a real shame. Hope they can recover, or offer some compensation to backers.

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Backers received a license for Anyma V during both the Anyma Omega and Loo(o)m campaign already.

A forum mod may want to edit the title / contents of my OP about this to reflect that Aodyo Instruments seems to be headed toward insolvency and cannot (as of this writing) deliver this product to any backers. I don’t think I can edit the title to reflect that or I would, sorry all!

Sad to see they pulled the old “our ship is sinking but don’t send a distress signal because we’re too busy bailing out water” trick. I don’t get why failing companies tend to go radio silent and distance themselves from their early backers and goodwilling supporters? Shouldn’t that be the absolute last people you leave in the dark when the going gets rough?

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Ive added a link in OP to status page on KS, since the KS page contains a link for preorders.

(in fairness, Im sure anyone preordering would check the current KS status before doing so, but no harm in a reminder )

Just checked, they are not offering preorders on their web-page nor on Indigogo anymore.

ah, good point…
I saw the preorder on KS, which takes you to their indigogo preorder page.
what I didn’t notice they’d restricted numbers of ‘perks’ there, so you cannot actually select one now.

good to see.