Your assessment is extremely jaded, IMHO. Failure is a relevant term. I see it as the company didn't fail its shareholders, the investment community failed that company and its shareholders. I don't consider failure being:
Contractual partnerships with Master Lock, Honeywell, etc.............after being vetted for months
Designing innovative technology products that worked
Introducing to a new market their technology and attracted big brand partners
Revenues collected of over $14,000,000 first year on a single product they brought to market
Confirmed sales through 1400 Home Depot Store, 400 Sears stores and other retailers with reorders
Raising $5,000,000 for manufacturing, sales and operations
Personally guaranteeing the company debt
Losing $8,000,000 in funding in late 2008 when market crashed and no one was funding
Putting in and losing$600,000 of their own money to keep the doors open in the face of $4,500,000 of debt.
See, I call that a dedicated management team that learned lessons the hard way. The investment community failed that company, not management. The company didn't fail its shareholders. The election and ensuing market crash did, just like tens of thousands of other companies. Master Lock fired 10% of its entire worldwide workforce. Honeywell 15%. So it wasn't just them.
