Steve Ohlund
San Luis Obispo, CA (USA)
Role(s):
SoCool Products Inc.
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Startup
Location:
San Luis Obispo
Industry:
Manufacturing
Year Founded:
2008
Number Employees:
INVALID
Description:
In 1992 Inventor filed a patent on a light up Cystal Necklace while in Patent Pending Inventor attended the infasous Invention Convention Trade Show with outstanding results, product was voted Most Marketable Invention.
I approached a local company for Investment, this company was involved in the Ty Bo Arrobics Videos and quite successful, They were looking for the next big project. They were impressed by the Invention thus far, they took a gamble and Invested the first million, the product took off like a rocket, a toy company approached us for a license to the Technology we signed a good License contract that offered a Million upfront, this was to that took care of the initial Investment but the toy company never paid a penny in Royalties . Our bad luck, the product sold several hun