On May 2, HealtheTech Inc.'s board of directors approved the dissolution of the company and adopted a plan of complete liquidation and dissolution, which will be submitted to the company's stockholders for approval. HealtheTech had been a manufacturer of metabolism measurement software and devices.
Pending stockholder action, the company begun making plans for a wind down of its operations, including headcount reductions, 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 will hold a special stockholder meeting as soon as practicable to approve the plan of liquidation and dissolution, according to the company’s Web site.
The company’s stockholders and board of directors considered a number of factors in its decision, including the company's recent financial performance and projections, prevailing economic and industry conditions, and unsuccessful efforts to sell or merge the company.