Syndicate Room's Made in Mind Keeps em Rollin Rollin Rollin..........

Made in Mind (MIM) went into administration on 25 June. It had raised £352k on SR in 2014. Now a version of it is appearing on Kickstarter even before the initial administrators report is out. Shareholders are scratching their heads.

This is a new one for us. The letter sent out to SHs in MIM made the usual excuses and apologies. It made no mention of the just launched KS campaign -

https://www.kickstarter.com/projects/muone/mu-book-wireless-fast-charger-and-carry-case?ref=7vt3bx

The KS campaign is for a version of the product sold by MIM but states that the owner of the campaign is now Discovery Club Ltd. The KS campaign page states

We've had a bit of a shake up. "Mu' and "Made in Mind' now live in the house of Discovery Club Limited. An unlikely crew, with an unlikely knack of delivering great innovation. Between us we've successfully launched dozens of products, raised over £1M for projects via Kickstarter, have won numerous industry awards.

Discovery Club was incorporated on 14 March 2019 and has one Director - Matthew Judkins. Matthew Judkins was the founder of MIM - so actually the same old crew. Judkins is described in the Syndicate Room pitch as 

' MiM was co-founded by Matthew Judkins, who has over 10 years’ experience working in commercial positions within the SME sector.'

Matthew is also the guy who wrote to SHs telling them that MIM was being put into administration. 

So SHs might want to know what is going on. We wouldnt mind either. The IP and all that, legally belongs to MIM and its SHs, until such time as the administrators sell it to the newco, Discovery Club - if they are happy that this is legal and within their remit to look after the creditors. In Matthew's goodbye letter he failed to mention Discovery Club but he did mention MIM debts of over £300k. He also talked about the IP being worthless. 

Just in case you wish to be more confused, Made in Mind Ltd owns 100% of Made in Mind Mu Ltd, which is currently not listed at CH as in Administration - both founded by our friend Matthew.

If anyone can shine a light on how on earth Matthew can be actively raising funds using the MIM IP whilst MIM is in administration, then please do so. Maybe the administrators gave him a licence to do so? If so, why didnt he tell his own SH's when he wrote them a letter full of crocodile tears? 

Was he going to try and pay them back or pay off the £300k debts but keeping it a special secret perhaps?? 

Move 'em on, head 'em up, Head 'em up, move 'em on, Move 'em on, head 'em up, RAWHIDE
Cut 'em out, ride 'em in, Ride 'em in, cut 'em out, Cut 'em out, ride 'em in, RAWHIDE