Cool Technologies inc. Files for Bankruptcy

07/30/09 - Tech Company Cool Technologies Inc. has filed for bankruptcy, following a failed attempt to restructure the company after a severe loss in Superior Court last year.

After their major defeat in court against former CEO and Co Founder John Straight, Cool Technologies began a restructure in an attempt to save their now failing business. After a series of job cuts, then CEO Jimmy Round stepped down from their role.

The company then tried to launch a brand new product, which they called “Help Tack”. Help Tack ended up being a commercial failure for the disgraced tech company, much in part to its complete departure from anything else the company has made before, and many reviews stating that the product didn’t actually do anything, despite claims of amazing features.

We will have a much longer analysis of what went wrong with Cool Technologies in the coming days, so stay tuned to wiki news network for more.