Blood flow imaging company Dynamic Light Inc. on Sept. 6 filed for chapter 7 bankruptcy in the U.S. Western District of Texas, Austin Business Journal reported. As opposed to a chapter 11 bankruptcy filing, which typically involves a company restructuring its operations and staying in business, a chapter 7 bankruptcy filing sets the table for a company's assets to be liquidated and its operations to cease. Dynamic Light was founded in 2018, and its mission is “to enable real-time blood flow imaging to improve patient care and lower health care costs,” according to its website. The startup's LinkedIn page shows that it has fewer than 10 employees, including six registered on the platform. The company, based in downtown Austin at 2025 Guadalupe St., reported having between $50,000 and $100,000 in assets against $1 million to $10 million in liabilities. Dynamic Light Board Chair Robert Teague signed the filing as an authorized representative of the company. Elizabeth Hoff is the company’s CEO, according to its website. Dynamic Light is being represented in bankruptcy by Stephen Sather of Barron and Newburger PC. “The board made a decision that it was in the best interest of the creditors to wind up the company at this time,” Sather said Sept. 8.
