Ubo Technologies, a limited liability company connected to Waatr founder and CEO Rakesh Guduru, filed for chapter 11 bankruptcy protection, the South Florida Business Journal reported. The Doral, Fla.-based venture submitted its petition to the U.S. Bankruptcy Court in Miami on April 13. The petition was signed by Guduru. Ubo Technologies has more than $2.5 million in liabilities and $327,181 in assets, according to court documents. Its largest debts are $641,465 owed to supplier Unique Industrial Product and a $464,000 business loan from Cellular Nanomed, a California biotech startup. Guduru is also listed as an unsecured creditor, with $291,627 owed. Most of Ubo Technologies assets consists of inventory, office equipment and intellectual property. It also owns patents, copyrights, trademarks and trade secrets related to Waatr, the maker of a self-cleaning reusable water bottle with UV purifiers and filters and CrazyCap, a portable cap that sterilizes water bottles.
