--- schema_version: "secwatch.filing_event.v1" accession: "0001628280-24-002879" form_type: "8-K" ticker: null cik: "0000874292" company_name: "ADDVANTAGE TECHNOLOGIES GROUP INC" filed_at: "2024-02-01T23:59:59+00:00" generated_at: "2026-06-06T12:22:38.007302+00:00" event_type: "other_material" sentiment: "negative" materiality_score: 1.0 calibrated_materiality_score: 1.0 confidence: "high" source: SEC EDGAR --- # ADDvantage Technologies files Chapter 7 bankruptcy, ceases operations, liquidating ## Summary - Company and three subsidiaries filed Chapter 7 on Jan 31, 2024; operations ceased Jan 26. - Chapter 7 trustee appointed to liquidate assets and pay creditors per Bankruptcy Code. - CEO/President Joseph E. Hart and Interim CFO Michael Ramke resigned; all directors resigned. - Filing triggers acceleration of obligations under debt instruments. - No officers, consultants, or employees remain as of Jan 31. ## SEC filing metadata - accession: 0001628280-24-002879 - form_type: 8-K - cik: 0000874292 - company_name: ADDVANTAGE TECHNOLOGIES GROUP INC - filed_at: 2024-02-01T23:59:59+00:00 - event_type: other_material - sentiment: negative - materiality_score: 1.0 - calibrated_materiality_score: 1.0 - confidence: high - sec_items: 1.03, 2.04, 5.02 - EDGAR index: https://www.sec.gov/Archives/edgar/data/874292/000162828024002879/0001628280-24-002879-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/874292/000162828024002879/aey-20240131.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001628280-24-002879 - JSON: https://secwatch.observer/filing/0001628280-24-002879.json - Plain text: https://secwatch.observer/filing/0001628280-24-002879.txt ## Key facts - Debt Financings ADDVANTAGE TECHNOLOGIES GROUP INC reported a default on debt. - Event: default source text: The commencement of the Chapter 7 Cases described in Item 1.03 of this Current Report on Form 8-K constitutes an event of default under certain of the Company’s debt instruments, which results in acceleration of the Company’s and the Subsidiaries’ obligations under such debt instruments. evidence_url: https://www.sec.gov/Archives/edgar/data/874292/000162828024002879/0001628280-24-002879-index.htm - Distress & Bankruptcy ADDVANTAGE TECHNOLOGIES GROUP INC entered chapter 7 in United States Bankruptcy Court for the District of Eastern District of Texas, Sherman Division (petition 2024-01-31). - Proceeding: chapter 7 - Court: United States Bankruptcy Court for the District of Eastern District of Texas, Sherman Division - Petition: 2024-01-31 source text: On January 31, 2024, ADDvantage Technologies Group, Inc. (the “Company”) and each of its subsidiaries, Fulton Technologies, Inc. (“Fulton”), Nave Communications Company (“Nave”), and ADDvantage Triton, LLC (“Triton,” and together with Fulton and Nave, the “Subsidiaries,” and each a “Subsidiary”), filed a voluntary petition for relief under the provisions of Chapter 7 of Title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Eastern District of Texas, Sherman Division (the “Bankruptcy Court”), (collectively, the “Bankruptcy Filings”). evidence_url: https://www.sec.gov/Archives/edgar/data/874292/000162828024002879/0001628280-24-002879-index.htm - Executive change Michael Ramke resigned as Interim Chief Financial Officer at ADDVANTAGE TECHNOLOGIES GROUP INC. - Action: resigned - Role: Interim Chief Financial Officer source text: Joseph E. Hart, the Company’s Chief Executive Officer and President; and Michael Ramke, the Company’s Interim Chief Financial Officer, resigned as executive officers of the Company. evidence_url: https://www.sec.gov/Archives/edgar/data/874292/000162828024002879/0001628280-24-002879-index.htm - Executive change David W. Sparkman resigned as Director at ADDVANTAGE TECHNOLOGIES GROUP INC. - Action: resigned - Role: Director source text: directors David E. Chymiak, Joseph E. Hart, Timothy S. Harden, James C. McGill, John M. Shelnutt, and David W. Sparkman have effectively resigned as members of the Company’s Board of Directors. evidence_url: https://www.sec.gov/Archives/edgar/data/874292/000162828024002879/0001628280-24-002879-index.htm - Executive change John M. Shelnutt resigned as Director at ADDVANTAGE TECHNOLOGIES GROUP INC. - Action: resigned - Role: Director source text: directors David E. Chymiak, Joseph E. Hart, Timothy S. Harden, James C. McGill, John M. Shelnutt, and David W. Sparkman have effectively resigned as members of the Company’s Board of Directors. evidence_url: https://www.sec.gov/Archives/edgar/data/874292/000162828024002879/0001628280-24-002879-index.htm - Executive change James C. McGill resigned as Director at ADDVANTAGE TECHNOLOGIES GROUP INC. - Action: resigned - Role: Director source text: directors David E. Chymiak, Joseph E. Hart, Timothy S. Harden, James C. McGill, John M. Shelnutt, and David W. Sparkman have effectively resigned as members of the Company’s Board of Directors. evidence_url: https://www.sec.gov/Archives/edgar/data/874292/000162828024002879/0001628280-24-002879-index.htm - Executive change Joseph E. Hart resigned as Director at ADDVANTAGE TECHNOLOGIES GROUP INC. - Action: resigned - Role: Director source text: directors David E. Chymiak, Joseph E. Hart, Timothy S. Harden, James C. McGill, John M. Shelnutt, and David W. Sparkman have effectively resigned as members of the Company’s Board of Directors. evidence_url: https://www.sec.gov/Archives/edgar/data/874292/000162828024002879/0001628280-24-002879-index.htm - Executive change David E. Chymiak resigned as Director at ADDVANTAGE TECHNOLOGIES GROUP INC. - Action: resigned - Role: Director source text: directors David E. Chymiak, Joseph E. Hart, Timothy S. Harden, James C. McGill, John M. Shelnutt, and David W. Sparkman have effectively resigned as members of the Company’s Board of Directors. evidence_url: https://www.sec.gov/Archives/edgar/data/874292/000162828024002879/0001628280-24-002879-index.htm - Executive change Joseph E. Hart resigned as Chief Executive Officer and President at ADDVANTAGE TECHNOLOGIES GROUP INC. - Action: resigned - Role: Chief Executive Officer and President source text: Joseph E. Hart, the Company’s Chief Executive Officer and President; and Michael Ramke, the Company’s Interim Chief Financial Officer, resigned as executive officers of the Company. evidence_url: https://www.sec.gov/Archives/edgar/data/874292/000162828024002879/0001628280-24-002879-index.htm - Executive change Timothy S. Harden resigned as Director at ADDVANTAGE TECHNOLOGIES GROUP INC. - Action: resigned - Role: Director source text: directors David E. Chymiak, Joseph E. Hart, Timothy S. Harden, James C. McGill, John M. Shelnutt, and David W. Sparkman have effectively resigned as members of the Company’s Board of Directors. evidence_url: https://www.sec.gov/Archives/edgar/data/874292/000162828024002879/0001628280-24-002879-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.