High-tech, low-voltage lighting firm files for bankruptcy

LumaStream, a St. Petersburg tech company that has spent a decade working on direct current, low-voltage LED light systems in an effort to disrupt the 140-year-old lighting industry, has filed for Chapter 11 bankruptcy protection. One of the key lessons is an old business truism: Capital is everything — even when your product is well-received. 

In a Feb. 5 statement, the company — which holds 24 patents and whose clients include automaker Tesla and fast-casual restaurant chain PDQ — says it will undergo financial restructuring and reorganization “to solidify and enhance our financial position, meet obligations to all stakeholders and emerge stronger than ever.”