Quarterly report pursuant to Section 13 or 15(d)

Note 1 - Nature of Business

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Note 1 - Nature of Business
6 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Business Description and Basis of Presentation [Text Block]
NOTE
1
- NATURE OF BUSINESS
 
 
Basis of Presentation
 
The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules of the Securities and Exchange Commission (“SEC”) applicable to interim reports of companies filing as a smaller reporting company. These financial statements should be read in conjunction with the audited financial statements and notes thereto contained in the Company
’s Annual Report on Form
10
-K for the fiscal year ended
June
30,
2016
filed with the SEC on
September
26,
2016.
In the opinion of management, the accompanying condensed consolidated interim financial statements include all adjustments necessary in order to make the financial statements not misleading. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year or any other future period. Certain notes to the financial statements that would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year as reported in the Company’s Annual Report on Form
10
-K have been omitted. The accompanying condensed consolidated balance sheet at
June
30,
2016
has been derived from the audited balance sheet at
June
30,
2016
contained in such Form
10
-K.
 
Nature of Business
 
Flux Power Holdings, Inc. ("Flux") was incorporated as Olerama, Inc. in Nevada in
1998.
Following the completion of a reverse merger on
June
14,
2012,
as described below, Flux's operations have been conducted through its wholly owned subsidiary, Flux Power, Inc. (“Flux Power”), a California corporation (collectively, the "Company").
 
Flux Power develops and sells rechargeable advanced energy storage systems. The Company has structured its business around its core technology, “The Battery Management System” (“BMS”). The Company
’s BMS provides
three
critical functions to their battery systems: cell balancing, monitoring and error reporting. Using its proprietary management technology, the Company is able to offer complete integrated energy storage solutions or custom modular standalone systems to their clients. The Company has also developed a suite of complementary technologies and products that accompany their core products. Sales during the
six
months ended
December
31,
2016
and
2015
were primarily to customers located throughout the United States.
 
As used herein, the terms “we,” “us,” “our,” “Flux” and “Company” mean Flux Power Holdings, Inc., unless otherwise indicated. All dollar amounts herein are in U.S. dollars unless otherwise stated.