Vision Technologies Inc., the military-grade camera technology company in Rogers, filed for Chapter 7 liquidation last month, listing $2.6 million in debts and just $136,000 in assets.
Robert Lee Thompson, president and CEO of Vision Technologies, declined to comment.
Founded in 1998, Vision reported revenue of $385,000 in nearly the first 11 months of this year. But it reported no revenue in 2020 and $380,000 in 2019.
In October, Kylegeo LLC of Bradenton, Florida, received a $375,000 judgment tied to a promissory note Vision didn’t pay. Kylegeo’s attorney, Timothy Watson Jr. of Fayetteville, was seeking attorney’s fees of $150,000, but that request was frozen after Vision’s bankruptcy filing.
Vision also lists Ik Pyo Hong of McLean, Virginia, as an unsecured creditor who is owed nearly $1 million for a loan. Robert Lee Thompson Sr. of Rogers also is listed as an unsecured creditor who is owed $865,857 for promissory notes that were taken out between 2007 and 2017, according to the filing.
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