Flux Power Reports Fiscal Year 2024 Second Quarter Financial Results
- Revenue increased by 7% to a record $18.3 million
- Gross margins improved to 31%
- Adjusted EBITDA improved to positive $0.3M
- New purchase orders reached a record $26.6 million
- Backlog was $29.7M as of February 1, 2024
- Gross profit increased by 38% in Q2’24 compared to Q2’23
- Adjusted EBITDA improved $1.2 million in Q2’24 compared to Q2’23
- The company added four new customers in material handling
- Commenced development of AI features for SkyBMS Telematics Platform
- Reached prototype stage for automation of battery cells into modules
- Selling & Administrative expenses increased to $4.6 million
- Research & Development expenses increased to $1.4 million
- Net loss for the fiscal second quarter of 2024 was $0.8 million
- Cash was $1.6 million on December 31, 2023, reflecting changes in working capital management
Insights
The reported increase in gross margin to 31% and the positive shift in Adjusted EBITDA to $0.3 million are significant indicators of Flux Power Holdings' operational efficiency and financial health. The 38% year-over-year increase in gross profit and the expansion of gross margin by 700 basis points suggest a successful implementation of cost-saving measures and operational initiatives. The positive Adjusted EBITDA, in contrast to a loss in the previous year, indicates a pivotal move towards operational profitability. It's also noteworthy that the company's revenue growth of 7% reflects a steady demand for their energy storage solutions, despite potential market volatility and supply chain challenges.
The expansion of the credit facility and the addition of a subordinated line of credit improve the company's liquidity and may reassure investors of the company's capacity to fund ongoing operations and growth initiatives. The reported backlog of $29.7 million, while down from the previous quarter's $30.057 million, still signifies a healthy pipeline of future revenue. However, investors should be mindful of the potential risks associated with the 'lumpiness' in delivery timings and interest rate variability mentioned by the CEO, as these factors could introduce unpredictability in future financial performance.
Flux Power's strategic positioning in the advanced lithium-ion energy storage market is underscored by the addition of four new customers in the material handling sector, including the world's largest wine producer. This expansion into diverse industries highlights the broad applicability of their technology and suggests potential for market share growth. The successful UL Listing of new heavy-duty models and the launch of a Private Label Program with a major forklift OEM could further solidify their market presence in the upcoming year.
Moreover, the development of AI features for their SkyBMS® Telematics Platform and the move towards automation of battery cell production reflect a commitment to innovation and efficiency, which are crucial for maintaining a competitive edge. The strategic partnership for international sales channels could also open up new markets and contribute to long-term growth. However, extended lead times for OEM forklifts and certain GSE Equipment could pose challenges in meeting demand promptly, potentially impacting customer satisfaction and future sales.
The report's emphasis on strategic supply chain initiatives as a driver for improved gross margins and profitability highlights the importance of efficient supply chain management in the manufacturing sector. Flux Power's efforts to lower costs and increase volume purchasing are crucial in an environment where supply chains are often disrupted. The move towards automation in producing battery cells is a forward-thinking approach that could not only meet the high customer demand but also mitigate risks associated with manual labor shortages and enhance production consistency.
However, the mention of extended lead times for forklifts and GSE Equipment deliveries indicates ongoing supply chain pressures that require careful management. The company's ability to navigate these challenges while maintaining service levels will be critical for sustaining growth and ensuring customer retention. Investors should consider the potential impact of these supply chain dynamics on the company's ability to deliver on its backlog and capture new orders.
Operational Initiatives Result in Improvement in Gross Margins to
Revenue Increased
Adjusted EBITDA Improved to Positive
Backlog was
Management to Host Conference Call Today at 4:30 p.m. Eastern Time
Key Financial FY 2024 Second Quarter and Subsequent Operational Highlights and Business Update
($ millions) |
Q2 Comparison |
||||||
|
Q2 2024 |
Q2 2023 |
$ Change YoY |
% Change YoY |
|||
Revenue |
|
|
|
|
|||
Gross Profit |
|
|
|
|
|||
Gross Margin |
|
|
-- |
700 BPS |
|||
Adjusted EBITDA |
|
- |
|
-- |
|||
-
Expansion of Margins Leading to Profitability in FY2024:
-
Gross profit increased
38% in Q2’24 compared to Q2’23. - Gross margin increased 700 basis points in Q2’24 compared to Q2’23.
-
Adjusted EBITDA improved
$1.2 million
-
Gross profit increased
-
Continued Revenue Expansion
-
Revenue (Shipments) increased
7% to quarterly record of$18.3 million $17.2 million -
New purchase orders received during the quarter reached a record
$26.6 million - Added four new customers in material handling, including the largest wine producer in the world.
- High demand new heavy-duty models completed UL Listing, to be launched for 2024.
- Private Label Program for selected models launched with major forklift OEM.
- Exploring partnership with third party on fast charging proprietary technology.
-
Commenced development of Artificial Intelligence (AI) features for SkyBMS® Telematics Platform to drive more informed decision-making around asset management and maximize operational efficiency.
- Currently piloting with existing Fortune 500 customer for three distribution centers for data collection ROI.
- Reached prototype stage for automation of battery cells into modules to support current high customer demand, while creating commonality and reducing inventory.
- Partnership for international sales channel making progress.
-
Backlog (open orders) was
$29.7 million
-
Revenue (Shipments) increased
-
Improved Capital Structure
-
A new
$2.0 million
-
A new
Backlog Summary
The backlog status is a point in time measure but in total reflects underlying pacing of orders:
Fiscal Quarter Ended |
|
Beginning Backlog |
|
|
New Orders |
|
|
Shipments |
|
|
Ending Backlog |
|
||||
September 30, 2022 |
|
$ |
35,020,000 |
|
|
$ |
9,678,000 |
|
|
$ |
17,840,000 |
|
|
$ |
26,858,000 |
|
December 31, 2022 |
|
$ |
26,858,000 |
|
|
$ |
20,652,000 |
|
|
$ |
17,158,000 |
|
|
$ |
30,352,000 |
|
March 31, 2023 |
|
$ |
30,352,000 |
|
|
$ |
9,751,000 |
|
|
$ |
15,087,000 |
|
|
$ |
25,016,000 |
|
June 30, 2023 |
|
$ |
25,016,000 |
|
|
$ |
19,780,000 |
|
|
$ |
16,252,000 |
|
|
$ |
28,544,000 |
|
September 30, 2023 |
|
$ |
28,544,000 |
|
|
$ |
8,102,000 |
|
|
$ |
14,797,000 |
|
|
$ |
21,849,000 |
|
December 31, 2023 |
|
$ |
21,849,000 |
|
|
$ |
26,552,000 |
|
|
$ |
18,344,000 |
|
|
$ |
30,057,000 |
|
February 1, 2024, Ending Backlog
CEO Commentary
“The second fiscal quarter of 2024 saw ongoing momentum to both top and bottom lines, as we continue to move steadily towards profitability,” said Flux Power CEO Ron Dutt. “While reaching record quarter revenue of
“A high priority for us remains reaching sustained cash flow breakeven and continuing our upward margin trajectory. We made good progress during the second fiscal quarter delivering positive Adjusted EBITDA of
“As of February 1, 2024, our open order backlog was
“We took significant actions to strengthen our capital structure while managing our business growth and margin expansion with careful priorities as part of our strategy to enhance shareholder value. An additional
“Looking ahead, we continue to develop new customer relationships and remain confident that our growth strategies, pipeline of orders and new customer opportunities, combined with our cash profitability improvement initiatives, is leading us toward near-term profitability. We have built a robust foundation for establishing the required scale as the leading service provider for large Fortune 500 material handling fleets. We are leveraging our position with growth-oriented projects and developing partnerships with vendors, technology partners, and opportunities to further drive growth. Taken together, we believe we can continue to expand our business, long-term sustained growth and shareholder value in the year to come,” concluded Dutt.
Q2’24 Financial Results
Revenue for the fiscal second quarter of 2024 increased
Gross profit for the fiscal second quarter of 2024 increased
Adjusted EBITDA was
Selling & Administrative expenses increased to
Research & Development expenses increased to
Net loss for the fiscal second quarter of 2024 improved
Cash was
Net cash used in operating activities decreased by
Second Quarter Fiscal Year 2024 Results Conference Call
Flux Power CEO Ron Dutt and CFO Chuck Scheiwe will host the conference call, followed by a question-and-answer session. The conference call will be accompanied by a presentation, which can be viewed during the webcast or accessed via the investor relations section of the Company’s website here.
To access the call, please use the following information:
Date: |
Thursday, February 8, 2024 |
Time: |
4:30 p.m. Eastern Time, 1:30 p.m. Pacific Time |
Toll-free dial-in number: |
1-877-407-4018 |
International dial-in number: |
1-201-689-8471 |
Conference ID: |
13743693 |
Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235.
The conference call will be broadcast live and available for replay at https://viavid.webcasts.com/starthere.jsp?ei=1651243&tp_key=b42dbaf500 and via the investor relations section of the Company's website here.
A replay of the webcast will be available after 7:30 p.m. Eastern Time through May 8, 2024.
Toll-free replay number: |
1-844-512-2921 |
International replay number: |
1-412-317-6671 |
Replay ID: |
13743693 |
Note about Non-GAAP Financial Measures
A non-GAAP financial measure is a numerical measure of a company’s performance, financial position, or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in
In addition to financial results presented in accordance with GAAP, this press release presents adjusted EBITDA, which is a non-GAAP measure. Adjusted EBITDA is determined by taking net loss and adding interest, taxes, depreciation, amortization, and stock-based compensation expenses. The company believes that this non-GAAP measure, viewed in addition to and not in lieu of net loss, provides additional information to investors by providing a more focused measure of operating results. This metric is an integral part of the Company’s internal reporting to evaluate its operations and the performance of senior management. A reconciliation of adjusted EBITDA to net loss, the most comparable GAAP measure, is available in the accompanying financial tables below. The non-GAAP measure presented herein may not be comparable to similarly titled measures presented by other companies.
US-GAAP NET INCOME (LOSS) TO ADJUSTED EBITDA RECONCILIATION (Unaudited) |
||||||||||||||||
|
|
Three Months Ended December 31, |
|
Six Months Ended December 31, |
||||||||||||
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
||||
Net loss |
|
$ |
(814,000 |
) |
|
$ |
(1,681,000 |
) |
|
$ |
(2,926,000 |
) |
|
$ |
(3,820,000 |
) |
Add/Subtract: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Interest, net |
|
|
449,000 |
|
|
|
385,000 |
|
|
|
852,000 |
|
|
|
713,000 |
|
Depreciation and amortization |
|
|
262,000 |
|
|
|
199,000 |
|
|
|
523,000 |
|
|
|
371,000 |
|
EBITDA |
|
|
(103,000 |
) |
|
|
(1,097,000 |
) |
|
|
(1,551,000 |
) |
|
|
(2,736,000 |
) |
Add/Subtract: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Stock-based compensation |
|
|
394,000 |
|
|
|
209,000 |
|
|
|
670,000 |
|
|
|
304,000 |
|
Adjusted EBITDA |
|
$ |
291,000 |
|
|
$ |
(888,000 |
) |
|
$ |
(881,000 |
) |
|
$ |
(2,432,000 |
) |
About Flux Power Holdings, Inc.
Flux Power (NASDAQ: FLUX) designs, manufactures, and sells advanced lithium-ion energy storage solutions for electrification of a range of industrial and commercial sectors including material handling, airport ground support equipment (GSE), and stationary energy storage. Flux Power’s lithium-ion battery packs, including the proprietary battery management system (BMS) and telemetry, provide customers with a better performing, lower cost of ownership, and more environmentally friendly alternative, in many instances, to traditional lead acid and propane-based solutions. Lithium-ion battery packs reduce CO2 emissions and help improve sustainability and ESG metrics for fleets. For more information, please visit www.fluxpower.com.
Forward-Looking Statements
This release contains projections and other "forward-looking statements" relating to Flux Power’s business, that are often identified using "believes," "expects" or similar expressions. Forward-looking statements involve several estimates, assumptions, risks, and other uncertainties that may cause actual results to be materially different from those anticipated, believed, estimated, expected, etc. Such forward-looking statements include impact of COVID-19 on Flux Power’s business, results and financial condition; statements regarding plans and expectations with respect to the Company’s registration statement on Form S-3 and any potential future offering or capital raises. Flux Power’s ability to obtain raw materials and other supplies for its products at competitive prices and on a timely basis, particularly in light of the potential impact of the COVID-19 pandemic on its suppliers and supply chain; the development and success of new products, projected sales, cancellation of purchase orders, deferral of shipments, Flux Power’s ability to improve its gross margins, or achieve breakeven cash flow or profitability, Flux Power’s ability to fulfill backlog orders or realize profit from the contracts reflected in backlog sale; Flux Power’s ability to fulfill backlog orders due to changes in orders reflected in backlog sales, Flux Power’s ability to obtain the necessary funds under the credit facilities, Flux Power’s ability to timely obtain UL Listing for its products, Flux Power’s ability to fund its operations, distribution partnerships and business opportunities and the uncertainties of customer acceptance and purchase of current and new products, and changes in pricing, and Flux Power’s ability to negotiate and enter into a definitive agreement in connection with the Letter of Intent. Actual results could differ from those projected due to numerous factors and uncertainties. Although Flux Power believes that the expectations, opinions, projections, and comments reflected in these forward-looking statements are reasonable, they can give no assurance that such statements will prove to be correct, and that the Flux Power’s actual results of operations, financial condition and performance will not differ materially from the results of operations, financial condition and performance reflected or implied by these forward-looking statements. Undue reliance should not be placed on the forward-looking statements and Investors should refer to the risk factors outlined in our Form 10-K, 10-Q and other reports filed with the SEC and available at www.sec.gov/edgar. These forward-looking statements are made as of the date of this news release, and Flux Power assumes no obligation to update these statements or the reasons why actual results could differ from those projected.
Flux, Flux Power, and associated logos are trademarks of Flux Power Holdings, Inc. All other third-party brands, products, trademarks, or registered marks are the property of and used to identify the products or services of their respective owners.
Follow us at:
Blog: Flux Power Blog
News Flux Power News
Twitter: @FLUXpwr
LinkedIn: Flux Power
FLUX POWER HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||||
|
|
December 31, 2023 |
|
June 30, 2023 |
||||
|
|
(Unaudited) |
|
|
||||
ASSETS |
|
|
|
|
|
|
||
|
|
|
|
|
|
|
||
Current assets: |
|
|
|
|
|
|
||
Cash |
|
$ |
1,584,000 |
|
|
$ |
2,379,000 |
|
Accounts receivable |
|
|
12,579,000 |
|
|
|
8,649,000 |
|
Inventories, net |
|
|
18,283,000 |
|
|
|
18,996,000 |
|
Other current assets |
|
|
942,000 |
|
|
|
918,000 |
|
Total current assets |
|
|
33,388,000 |
|
|
|
30,942,000 |
|
Right of use assets |
|
|
2,482,000 |
|
|
|
2,854,000 |
|
Property, plant and equipment, net |
|
|
1,680,000 |
|
|
|
1,789,000 |
|
Other assets |
|
|
119,000 |
|
|
|
120,000 |
|
|
|
|
|
|
|
|
||
Total assets |
|
$ |
37,669,000 |
|
|
$ |
35,705,000 |
|
|
|
|
|
|
|
|
||
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
||
|
|
|
|
|
|
|
||
Current liabilities: |
|
|
|
|
|
|
||
Accounts payable |
|
$ |
10,021,000 |
|
|
$ |
9,735,000 |
|
Accrued expenses |
|
|
3,290,000 |
|
|
|
3,181,000 |
|
Line of credit |
|
|
13,575,000 |
|
|
|
9,912,000 |
|
Deferred revenue |
|
|
310,000 |
|
|
|
131,000 |
|
Customer deposits |
|
|
232,000 |
|
|
|
82,000 |
|
Finance lease payable, current portion |
|
|
150,000 |
|
|
|
143,000 |
|
Office lease payable, current portion |
|
|
689,000 |
|
|
|
644,000 |
|
Accrued interest |
|
|
130,000 |
|
|
|
2,000 |
|
Total current liabilities |
|
|
28,397,000 |
|
|
|
23,830,000 |
|
Office lease payable, less current portion |
|
|
1,698,000 |
|
|
|
2,055,000 |
|
Finance lease payable, less current portion |
|
|
191,000 |
|
|
|
273,000 |
|
|
|
|
|
|
|
|
||
Total liabilities |
|
|
30,286,000 |
|
|
|
26,158,000 |
|
|
|
|
|
|
|
|
||
Stockholders’ equity: |
|
|
|
|
|
|
||
|
|
|
|
|
|
|
||
Preferred stock, |
|
|
- |
|
|
|
- |
|
Common stock, |
|
|
17,000 |
|
|
|
16,000 |
|
Additional paid-in-capital |
|
|
98,847,000 |
|
|
|
98,086,000 |
|
Accumulated deficit |
|
|
(91,481,000 |
) |
|
|
(88,555,000 |
) |
|
|
|
|
|
|
|
||
Total stockholders’ equity |
|
|
7,383,000 |
|
|
|
9,547,000 |
|
|
|
|
|
|
|
|
||
Total liabilities and stockholders’ equity |
|
$ |
37,669,000 |
|
|
$ |
35,705,000 |
|
FLUX POWER HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) |
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
|
Three Months Ended December 31, |
|
Six Months Ended December 31, |
||||||||||||
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
||||
Revenues |
|
$ |
18,344,000 |
|
|
$ |
17,158,000 |
|
|
$ |
33,141,000 |
|
|
$ |
34,998,000 |
|
Cost of sales |
|
|
12,676,000 |
|
|
|
13,050,000 |
|
|
|
23,162,000 |
|
|
|
26,942,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Gross profit |
|
|
5,668,000 |
|
|
|
4,108,000 |
|
|
|
9,979,000 |
|
|
|
8,056,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
||||
Selling and administrative |
|
|
4,593,000 |
|
|
|
4,250,000 |
|
|
|
9,318,000 |
|
|
|
8,786,000 |
|
Research and development |
|
|
1,440,000 |
|
|
|
1,162,000 |
|
|
|
2,735,000 |
|
|
|
2,385,000 |
|
Total operating expenses |
|
|
6,033,000 |
|
|
|
5,412,000 |
|
|
|
12,053,000 |
|
|
|
11,171,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Operating loss |
|
|
(365,000 |
) |
|
|
(1,304,000 |
) |
|
|
(2,074,000 |
) |
|
|
(3,115,000 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Other income |
|
|
- |
|
|
|
8,000 |
|
|
|
- |
|
|
|
8,000 |
|
Interest income (expense), net |
|
|
(449,000 |
) |
|
|
(385,000 |
) |
|
|
(852,000 |
) |
|
|
(713,000 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net loss |
|
$ |
(814,000 |
) |
|
$ |
(1,681,000 |
) |
|
$ |
(2,926,000 |
) |
|
$ |
(3,820,000 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Net loss per share - basic and diluted |
|
$ |
(0.05 |
) |
|
$ |
(0.10 |
) |
|
$ |
(0.18 |
) |
|
$ |
(0.24 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Weighted average number of common shares outstanding - basic and diluted |
|
|
16,516,700 |
|
|
|
16,020,183 |
|
|
|
16,495,727 |
|
|
|
16,008,740 |
|
FLUX POWER HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) |
||||||||
|
|
|
|
|
|
|
||
|
|
Six Months Ended December 31, |
||||||
|
|
2023 |
|
|
2022 |
|
||
Cash flows from operating activities: |
|
|
|
|
|
|
||
Net loss |
|
$ |
(2,926,000 |
) |
|
$ |
(3,820,000 |
) |
Adjustments to reconcile net loss to net cash used in operating activities |
|
|
|
|
|
|
||
Depreciation |
|
|
523,000 |
|
|
|
371,000 |
|
Stock-based compensation |
|
|
670,000 |
|
|
|
304,000 |
|
Fair value of warrants issued as debt issuance cost |
|
|
92,000 |
|
|
|
- |
|
Amortization of debt issuance costs |
|
|
134,000 |
|
|
|
368,000 |
|
Noncash lease expense |
|
|
296,000 |
|
|
|
236,000 |
|
Allowance for inventory reserve |
|
|
(2,000 |
) |
|
|
135,000 |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
||
Accounts receivable |
|
|
(3,930,000 |
) |
|
|
(1,858,000 |
) |
Inventories |
|
|
715,000 |
|
|
|
(3,380,000 |
) |
Other assets |
|
|
(157,000 |
) |
|
|
(17,000 |
) |
Accounts payable |
|
|
286,000 |
|
|
|
6,152,000 |
|
Accrued expenses |
|
|
109,000 |
|
|
|
89,000 |
|
Accrued interest |
|
|
128,000 |
|
|
|
- |
|
Office lease payable |
|
|
(312,000 |
) |
|
|
(244,000 |
) |
Deferred revenue |
|
|
179,000 |
|
|
|
(82,000 |
) |
Customer deposits |
|
|
150,000 |
|
|
|
(146,000 |
) |
Net cash used in operating activities |
|
|
(4,045,000 |
) |
|
|
(1,892,000 |
) |
|
|
|
|
|
|
|
||
Cash flows from investing activities |
|
|
|
|
|
|
||
Purchases of equipment |
|
|
(338,000 |
) |
|
|
(344,000 |
) |
Proceeds from sale of fixed assets |
|
|
- |
|
|
|
8,000 |
|
Net cash used in investing activities |
|
|
(338,000 |
) |
|
|
(336,000 |
) |
|
|
|
|
|
|
|
||
Cash flows from financing activities: |
|
|
|
|
|
|
||
Proceeds from revolving line of credit |
|
|
35,868,000 |
|
|
|
30,550,000 |
|
Payment of revolving line of credit |
|
|
(32,205,000 |
) |
|
|
(28,628,000 |
) |
Payment of finance leases |
|
|
(75,000 |
) |
|
|
(22,000 |
) |
Net cash provided by financing activities |
|
|
3,588,000 |
|
|
|
1,900,000 |
|
|
|
|
|
|
|
|
||
Net change in cash |
|
|
(795,000 |
) |
|
|
(328,000 |
) |
Cash, beginning of period |
|
|
2,379,000 |
|
|
|
485,000 |
|
|
|
|
|
|
|
|
||
Cash, end of period |
|
$ |
1,584,000 |
|
|
$ |
157,000 |
|
|
|
|
|
|
|
|
||
Supplemental Disclosures of Non-Cash Investing and Financing Activities: |
|
|
|
|
|
|
||
Initial right of use asset recognition |
|
$ |
- |
|
|
$ |
258,000 |
|
Common stock issued for vested RSUs |
|
$ |
183,000 |
|
|
$ |
114,000 |
|
Supplemental cash flow information: |
|
|
|
|
|
|
||
Interest paid |
|
$ |
605,000 |
|
|
$ |
288,000 |
|
View source version on businesswire.com: https://www.businesswire.com/news/home/20240208464681/en/
Media & Investor Relations:
media@fluxpower.com
info@fluxpower.com
External Investor Relations:
Chris Tyson, Executive Vice President
MZ Group - MZ North America
949-491-8235
FLUX@mzgroup.us
www.mzgroup.us
Source: Flux Power Holdings, Inc.
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