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If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
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Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) |
In connection with the reverse acquisition of Flux Power , Inc., a California corporation ("Flux Power") by Flux Power Holdings, Inc. (the "Issuer"), pursuant to the Securities Exchange Agreement dated May 18, 2012 by and among the Issuer, Flux Power and all the shareholders of Flux Power ("Flux Shareholders"), on June 14, 2012, the Issuer issued new shares of common stock to the Flux Shareholders, and assumed the Flux Power 2010 Option Plan (the "Plan") and all of the outstanding options, based on an exchange ratio of 2.9547039 ("Share Exchange Ratio"). As a result, Esenjay Investments, LLC, as one of the Flux Shareholders, received 19,986,290 shares of common stock of Issuer exchange for 6,764,228 shares of common stock of Flux Power. |
(2) |
Shares are held by Esenjay Investments, LLC, a Texas limited liability company. Mr. Johnson is the sole director and beneficial owner of this entity. |
(3) |
The Reporting Person was originally granted options by Flux Power to purchase shares of common stock (the "Options") under the Flux Power 2010 Option Plan ("Plan"). In connection with the reverse acquisition, the Issuer assumed the Plan and the Options based on the Exchange Ratio. As a result, the Reporting Person holds options to purchase the number of shares of common stock of the Issuer at the exercise price disclosed in this form, which number of shares and exercise price has been adjusted to give effect to the Share Exchange Ratio. |
(4) |
The options were originally granted on October 1, 2011 and are subject to the following vesting schedule: 12.5% of the shares vest each quarter for two years. |