Note 6 - Other Related Party Transactions |
3 Months Ended |
|---|---|
Sep. 30, 2017 | |
| Notes to Financial Statements | |
| Related Party Transactions Disclosure [Text Block] |
NOTE
6 - OTHER RELATED PARTY TRANSACTIONS
Transactions with Epic Boats The Company subleases office and manufacturing space to Epic Boats (an entity founded and controlled by Chris Anthony, our board member and former Chief Executive Officer) in our facility in Vista, California pursuant to a month-to-month sublease agreement. Pursuant to this agreement, Epic Boats pays Flux Power
10% of facility costs through the end of our lease agreement.The Company received $ 5,000 and $4,000 during the three -month ended September 30, 2017 and 2016, respectively, from Epic Boats under the sublease rental agreement which is recorded as a reduction to rent expense and the customer deposits discussed below.As of
September 30, 2017 and June 30, 2017, customer deposits totaling approximately $115,000 and $120,000, respectively, were recorded in the accompanying condensed consolidated balance sheets. There were no September 30, 2017 and June 30, 2017.
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