GOLDEN, CO — HealtheTech Inc.'s board of directors has approved the dissolution of the company and has adopted a plan of complete liquidation and dissolution, which will be submitted to the company's stockholders for approval at a special stockholder meeting as soon as practicable, according to the company's Web site. Once approved, HealtheTech plans to dissolve and wind down its business affairs and sell or otherwise dispose of its assets. Pending stockholder action, the company began making plans for a wind down of its operations, including layoffs, securing continuing support for its existing customers, seeking purchasers for the sale of its intellectual property and other tangible and intangible assets, considering pursuit of potential third-party claims, and providing for its outstanding and potential liabilities.
The company's board of directors considered a number of factors before making the decision. Some of the factors included the company's recent financial performance and projections, prevailing economic and industry conditions, and unsuccessful efforts to sell or merge the company, which made metabolism measurement software and devices.