Cool Trader Inc Files For Bankruptcy Following Collapse Of Cool Trader Pro

Cool Trader Pro ReviewHas someone tried to pitch you the Cool Trader Pro opportunity lately?

Cool Trader Pro is a really popular and new opportunity that is making it’s rounds on social media among network marketers.

Now, first off, let me make it clear I am NOT promoting this business opportunity as an affiliate or distributor.

I have all the facts about this business in my Cool Trader Pro review so you can learn the full truth about it!

Is Cool Trader Pro a scam?

Can you make an honest business with Cool Trader Pro?

Let me show you in my review of Cool Trader Pro.

Read on for all the details.

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Cool Trader Pro – What Is It??

Cool Trader Pro is an MLM opportunity thats been around since 2012, and its main premise is to allow people to invest into a robot-run piece of trading software that allows you to earn on consistent returns year after year.

At first, this might sound like a solid business opportunity. To the unexperienced player in the MLM space, consistent returns can sound like the jackpot.

However, if you’ve spent enough time looking through MLM opportunities, you’ll know that there’s no such thing as a legit MLM setup that can offer consistent ROIs.

This is exactly what Cool Trader Pro has been offering since it hit the market so many years ago, and it exists as a part of Cool Trader Inc.

Both Cool Trader Inc and Cool Trader Pro are owned by a Mr. Edward Barsano, and in addition to owning both companies, Edward also acts as the CEO for Cool Trader Pro.

Cool Trader Inc started a few years before Cool Trader Pro in 2005, with the offer of “fully automated trading.”

At that time, Cool Trader Inc. was boating that it had established “thousands of traders in 35 countries.”

Here’s a closer look at what the company was promoting:

“Imagine going to Vegas knowing you are coming home a winner. Imaging knowing your football picks were winners every weekend.

Now imagine the most genius programmer, the technology guru behind Microsoft, who after treating with millions, spent the next 12 years dedicated personally to writing over 5 million lines of code to develop the most powerful program ever produced to help make you money.

Simply turn on your computer on Monday morning and begin to change your financial future! And you don’t even have to be there! It does it all for you. A fully automated, robotic, money machine.”

In other words, boot up your PC, go about your day, and you can make a buttload of cash.

Sounds easy, right?

Yeah, too easy.

Cool Trader Pro was surprisingly still in business in early 2016, but at some point between then and now in late 2017, something went wrong.

Cool Trader Pro Scam

Aka, Cool Trader Pro collapsed.

The domain name for Cool Trader Pro’s website is currently listed for purchase for the cost of $29,888, but the Cool Trader Inc. website is still alive and well. However, what’s worth noting here is that the original domain of “cooltrade.org” now goes to “cool-trade.org.”

Along with this, Cool Trade Inc. officially filed for Chapter 11 bankruptcy on October 6 of this year (2017).

The filing states that Cool Trade Inc. doesn’t even have $50,000 worth of assets, with non contingent liquidated debts listed as “less than $2,566,050.”

As for liabilities, these range from $500 million up to as much as $1 billion that Cool Trade Inc. owes to 1 to 49 different creditors.

In the filing, Question 10 raises the question of “Are any bankruptcy cases pending or being filed by a business partner or an affiliate of the debtor?”

Cool Trade Inc. simply answered “yes” to this question without actually providing any specific details on the matter.

With that said, a list of the top twenty creditors for Cool Trade Inc. is available to view, and this shows that the company currently owes the following amounts of money:

  • $250,000 for income tax in 2014 to the IRS
  • More than $100,000 of “legal fees”
  • $118,324 for “claims for sanctions” to Sunil Wadhwa

Wadhwa was a previously Cool Trader Pro’s President, but he ended up leaving the company in 2013. The exact sanctions being claimed here aren’t known, but if you go to Cool Trader Inc.’s website, you’ll see that Barsano was still trying to promote Cool Trader Inc’s software package until last month on September 30, 2017.

A message from Barsano was listed on the Cool Trader Inc. website a couple days prior on September 28, saying:

“I’m hosting a CoolTrade presentation in Las Vegas, NV (Sunset Station) this Saturday (10am to 3pm). Attendance is free.

To learn more about fully robotic stock trading, please register at (removed) and come to the event.

Thanks!

Ed

CoolTrade Inc. – Robotic Profit Tracking”

At this time, Cool Trader Inc. is still advertising the $4995 robot software to access it for three years.

With all of that said, it’s clear that Cool Trade Inc. is in a pretty crummy spot.

The company previous claimed to be have “the most powerful program ever produced to help make you money”, but despite that, it has less than $50,000 of assets and half a billion dollars wroth of liabilities to tend to.

If you’re currently involved with Cool Trader Inc., I’d advise getting the heck out of there before things get any worse.

 

Is Cool Trader Pro Really A Scam?

Have you been hearing that Cool Trader Pro is a scam?

Have you heard Cool Trader Pro is legit?

It can be hard to tell with so many different people telling you different things.

So, what’s the truth – is Cool Trader Pro a scam or is it a good business?

I would say it’s not really a scam. There are a few things you should be aware of before joining.

The best way to be successful is to be prepared going in, and have a plan to market yourself.

If you want help marketing and making money, see below.

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Conclusion for Cool Trader Pro

 

I hope you got all the details you needed to make an informed decision in this Cool Trader Pro Review.

Bears of anyone trying to sell you something in their review articles.

If you do want to proceed with Cool Trader Pro, make sure you know how to market properly.

My FREE training below will help you.

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