Warkins first joined the electronic transistor manufacturer as a consultant in July 2024 before assuming the COO role in March 2025. His departure coincides with a brutal market performance for the company, which saw its share price hit an all-time low of $2.24 on Friday. Investors have faced a punishing year, with shares down approximately 96% year-to-date.

This leadership change follows a series of defensive maneuvers by the firm, including a 50-to-1 reverse stock split executed in August. Despite these efforts to stabilize the company's equity position, the stock continues to struggle against significant downward pressure.