Just one year after going public with a market value approaching $500 million, Foxo Technologies, which aims to use artificial intelligence and innovations in genetics to help underwrite life insurance, has terminated general counsel Michael Will ”due to the company’s current financial constraints and the need to reduce its staff.”

The company, which reported having only $215,000 in cash as of June 30 and is warning of a possible bankruptcy, said Will now will serve as a contractor on an as-needed basis. Its stock, which debuted at $9.15 following a special purpose acquisition company merger, now fetches only 11 cents.