Summary by Moomoo AI
On February 5, 2024, Sunworks, Inc., a company listed on the Nasdaq Capital Market under the trading symbol SUNW, and three of its subsidiaries filed for Chapter 7 bankruptcy in the United States Bankruptcy Court for the District of Delaware. The filings, under case numbers 24-10215 through 24-10218, will result in the appointment of a Chapter 7 trustee who will take control of the company's assets and liabilities, effectively removing the powers of Sunworks' Board of Directors and executive officers. The company's assets will be liquidated to pay claims as per the Bankruptcy Code. Concurrently, CEO Mark Trout and directors Mark Trout, Patrick McCullough, Rhone Resch, and Stanley Speer resigned from their positions, leaving the company with no current officers, consultants, employees, or board members.