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Jawbone founder and CEO Hosain Rahman has started a new company called Jawbone Health Hub, which will work on medical software and hardware.

When a customer buys your product but doesn't pay for it for an agreed to amount of time, usually between 30 to 90 days, the amount, called the account receivable, is shown as an asset on the balance sheet.Despite shuttering the business, Jawbone believes it is still worth a significant amount of money due to its pending litigation with rival Fitbit, according to the source.Jawbone, which was once valued as high as billion by private market investors, is the latest pioneer of wearable electronics to throw in the towel.Jawbone was in the process of making a shift to making "clinical-grade" wearable devices that could measure vitals like blood pressure, but the company was having trouble getting the device to work properly, sources told Business Insider.It's unclear if Jawbone Health Hub will continue work on the device.The good news is that there are many easy ways to sell items of value these days.

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