The problem is it's hard to know if op's code is actually useful or not. If it is, then they should be able to spin it into something else that does make money. Show that it's generating revenue, and then that'll be the value of their business.
From there, op can be as flexible as they like: hiring freelancers and running it in their spare time, selling it off, getting investors, working from home in an area with low cost of living, etc.
If OP can't make money off this thing, then that's a very bad indicator because it means other people can't really make money off of it. If OP needs more resources like a large sales team to make this profitable, then the value of his code to the overall business is lower and they shouldn't expect as much and maybe just write the entire thing off as a bad lesson (which honestly sounds like the case here).
Code is an asset, and can have monetary value.
The problem is it's hard to know if op's code is actually useful or not. If it is, then they should be able to spin it into something else that does make money. Show that it's generating revenue, and then that'll be the value of their business.
From there, op can be as flexible as they like: hiring freelancers and running it in their spare time, selling it off, getting investors, working from home in an area with low cost of living, etc.
If OP can't make money off this thing, then that's a very bad indicator because it means other people can't really make money off of it. If OP needs more resources like a large sales team to make this profitable, then the value of his code to the overall business is lower and they shouldn't expect as much and maybe just write the entire thing off as a bad lesson (which honestly sounds like the case here).