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Flux Power Holdings Inc
2685 S. Melrose Drive
Phone: (877) 505-3589p:877 505-3589 VISTA, CA  92081  United States Ticker: FLUXFLUX
On August 30, 2024, the Board of Directors of Flux Power Holdings, Inc. concluded that the previously issued audited consolidated financial statements as of and for the fiscal year ended June 30, 2023 and the unaudited consolidated financial statements as of and for the quarters ended September 30, 2023, December 31, 2023, and March 31, 2024, should no longer be relied upon because of errors in such financial statements relating to the improper accounting for inventory and a restatement should be undertaken. During the company’s preparation of financial statements for the year ended June 30, 2024, it became aware that (i) approximately $1.2 million of excess and obsolete inventory, primarily as a result of a change in battery cells from a new supplier, was not properly reserved or written-off in earlier periods resulting in an overstatement of inventory, and (ii) certain loaner service packs were improperly accounted for as finished goods inventory as of June 30, 2023 resulting in an overstatement of inventory of approximately $0.5 million.
Business Summary
Flux Power Holdings, Inc. designs, manufactures, and sells advanced lithium-ion energy storage solutions for electrification of a range of industrial commercial sectors which include material handling, airport ground support equipment (GSE), and other commercial and industrial applications. Its lithium-ion battery packs, including the proprietary battery management system (BMS) and telemetry, provide customers ownership, and more environmentally friendly alternative, in many instances, to traditional lead acid and propane-based solutions. Its battery technology is designed with the flexibility to meet the energy requirements of diverse industries and applications, such as material handling vehicles and ground support equipment. Its batteries are designed with modular components which facilitate design flexibility that is adaptable to various applications. It also offers energy management solutions, which include real-time fleet monitoring and customizable dashboard and reporting.

Scores and Ratings
FRISK®
Score		 Z''
Score		 PAYCE®
Score		 DBT
Index		 Moody's
Rating		 Fitch
Rating		 DBRS
Rating
YesYes-Yes---

Financials, News and Filings
Latest
Statement		 Last
Audit
News		 SEC
Filings		 Bankruptcy
Filings		 Suit &
Judgment
Filings		 Tax
Lien
Filings
3/31/20246/30/2023YesYes---

Industries
SIC Code Description
3691 Storage batteries

Officers and Directors

Title
Name
Age		 Title
Date		 Start
Date
Chairman of the Board, President, Chief Executive Officer Ronald F.Dutt 76 6/28/2019 12/7/2012
Chief Financial Officer, Corporate Secretary Kevin S.Royal 58 3/4/2024 3/4/2024
Vice President - Operations Jeffrey C.Mason 52 12/1/2021 12/1/2021
4 additional Officers and Directors records available in full report.

Business Names
Business Name
Australian Forest Industries
FLUX
FLUX Power
6 additional Business Names available in full report.

General Information
Number of Employees: 133 (As of 6/30/2023)
Outstanding Shares: 16,682,465 (As of 5/3/2024)
Shareholders: 1,367
Stock Exchange: NASD
Federal Tax Id: 860931332


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Wednesday, January 29, 2025