Dissolution

Dissolving your startup

Chris Rill Founder | Consumer Hardware CTO

April 13th, 2012

Hey FD,

I will soon begin the process of dissolving my first startup and was
wondering if anyone has any advice or gotchas to lookout for? The company
was incorporated as an LLC in Delaware if that matters at all.

Cheers,
Chris

Brad Miller Healthcare Data, Strategy and Operations

April 16th, 2012

Hi Chris -

I\'ve had to dissolve a DE C-Corp in the past - one gotcha was to make sure
that I had both DE and CA (assuming you\'re in CA) fees and taxes up to
date. My first lawyer didn\'t advise us, and I was stuck paying a couple
hundred dollars in fines. I don\'t know the implications of LLCs, but I
guess my message is to make sure you have things squared away in DE and CA.

Best,
Brad

Chris Rill Founder | Consumer Hardware CTO

April 16th, 2012

Hey Brad,

Thanks for the heads up. I\'m in NY, but the company was founded in IL and
incorporated in DE. I\'ll make sure to double check the company\'s status in
those states before we file to dissolve.

Thanks again,
Chris