Annual report pursuant to Section 13 and 15(d)

Note 12 - Other Related Party Transactions

v3.7.0.1
Note 12 - Other Related Party Transactions
 12 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]
NOTE
1
2
- OTHER RELATED PARTY TRANSACTIONS
 
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 $
16,000
during each of the years ended
June 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
June 30,
2017
and
2016,
customer deposits totaling approximately
$120,000
and
$136,000,
respectively, related to such products were recorded in the accompanying consolidated balance sheets. There were
no
receivables outstanding from Epic Boats as of
June 30, 2017
and
2016.