This means that a Chapter 7 trustee will take over control of the company's assets and liabilities, leading to the liquidation of assets and payment of claims as per the Bankruptcy Code.

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Mark Trout, the Chief Executive Officer, resigned on the same day, and all directors, including Mark Trout, Patrick McCullough, Rhone Resch and Stanley Speer, also resigned from the company's board.

As of February 5, the company says it has no officers, consultants, employees or members of the board of directors.

According to data from Benzinga Pro, SUNW has a 52-week high of $2.14 and a 52-week low of $0.036.