Other Related Party Transactions |
9 Months Ended |
|---|---|
Mar. 31, 2020 | |
| Related Party Transactions [Abstract] | |
| Other Related Party Transactions |
NOTE 7 - OTHER RELATED PARTY TRANSACTIONS
The Company subleased office and manufacturing space to Epic Boats (an entity founded and controlled by Chris Anthony, a former board member and former Chief Executive Officer) in the facility in Vista, California pursuant to a month-to-month sublease agreement. Pursuant to the month-to-month sublease agreement, Epic Boats paid Flux Power 10% of facility costs through the end of the Company’s lease agreement which was June 30, 2019. The month-to-month sublease agreement was terminated on June 30, 2019.
The Company received $5,000 and $15,000 for the three and nine months ended March 31, 2019 from Epic Boats under the month-to-month sublease agreement which is recorded as a reduction to rent expense and customer deposits. No fees were received by the Company from Epic Boats for the three and nine months ended March 31, 2020. |