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Seminole Company Smart Communications Files for Chapter 11 Bankruptcy with $86 Million Debt

St. Petersburg, FLBusiness/Finance

Smart Communications, a Seminole-based software-as-a-service platform, has filed for Chapter 11 bankruptcy, reporting debts totaling over $86 million. Founded in 2009 by Jonathan Logan, the company serves over 120 correctional facilities across the U. S. The bankruptcy filing is primarily attributed to a protracted legal dispute with Logan's estranged mother, who co-owns the business. This legal conflict has severely impacted the company's ability to manage its debts, with approximately $80 million linked to an exclusive intellectual property licensing agreement.

The case highlights the risks associated with personal relationships in business and the financial challenges faced by companies in competitive markets, serving as a cautionary tale for entrepreneurs navigating similar dynamics.

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