Reports earlier this week that Apple purchased Bluetooth headphone-maker, Wi-Gear, are not true.

[ad#Google Adsense 300×250 in story]Macworld’s Dan Moren contacted Wi-Gear’s CEO Mark Pundsack and he denied the company was sold to Apple. In fact, he said Wi-Gear and its technology are still available for sale.

Earlier this week 9to5Mac.com said that Apple had purchased the headphone-maker. Citing an unnamed source, the report said that Apple would use the technology to build its own Bluetooth headphones.

A note on Wi-Gear’s website says it has “ceased operations and is no longer in business,” but Pundsack explained that the company simply ran out of money.