Inboard Technology, an electric skateboard startup from Santa Cruz, California, is working with a liquidation firm to sell off its intellectual property and assets, The Verge has learned. All 24 employees, most of whom were located at the company’s headquarters in Santa Cruz, California, have been laid off.

The startup was one of the highest-profile competitors to top electric skateboard company Boosted, and last year announced plans to enter the electric scooter market — a push that seems to have doomed Inboard.