HealtheTech Purchase by MicroLife

by David on November 9, 2009

HealtheTech was purchased by Microlife Corporation on August 7, 2006

Below is the HealtheTech press release.

For information on the BodyGem and MedGem, contact Microlife Area Representative David Wilcoxson at 303-808-2291

Set forth below is a brief update regarding the status of our winding down and liquidation process. Many individuals and companies expressed initial interest in purchasing some or all of HealtheTech’s assets.

After our evaluation of all significant/substantial acquisition proposals, effective as of August 7, 2006, Microlife Corporation purchased substantially all the assets of HealtheTech and is expected to continue to operate this business.

On August 17, 2007, the Delaware Court of Chancery approved HealtheTech’s requested order to distribute $2,685,124.25 to its stockholders.

HealtheTech Inc has declared a record date of December 17, 2007 for stockholders entitled to receive a distribution of $0.27 per share.

HealtheTech intends to make this distribution prior to the end of December 2007.

As set forth in HealtheTech’s Plan of Dissolution, there have been no transfers of stock registered on HealtheTech’s books and records since the date that HealtheTech’s Certificate of Dissolution was filed with the Delaware Secretary of State on June 2, 2006.

Subject to working out some logistical issues, HealtheTech contemplates requesting the permission of the Delaware Court of Chancery during the spring of 2009 for the distribution of most of the Company’s remaining assets (approximately $700,000 as of September 2007), although the Company intends to retain a reasonable reserve for future claims, expenses and contingencies.

The timing and amount of a final distribution is uncertain. Based upon Delaware law, HealtheTech does not currently anticipate that the final distribution of its remaining assets, if any, will occur prior to the spring of 2009 (and perhaps not until 2011).

However, the amount, timing, number and range of the distribution are subject to variability and a number of factors both known and unknown which are subject to change.

As a result, no stockholder or anyone else should rely on this information as being a guarantee or reliable indication of the future.

In addition, all stockholders of the Company are urged to send us any change of address, so we know how to contact you with respect to any distributions made by the Company or any other matters.

Forward-Looking Statements

The above statements contain certain forward-looking statements, or statements which may be deemed or construed to be forward-looking statements within the meaning of the private securities litigation reform act of 1996, with respect to the financial condition and results of HealtheTech.

These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors which could cause HealtheTech’s actual results and financial condition to differ from predicted future results.

You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

HealtheTech does not undertake any obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

BodyGem by HealtheTech
MedGem by HealtheTech

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