Flux Power Faces Nasdaq Compliance Challenge

Company Notification Details

Flux Power Holdings, Inc. (FLUX), a company specializing in advanced lithium-ion energy storage solutions for commercial and industrial equipment, received a compliance notice from the Nasdaq Stock Market on November 20, 2024. The notice indicated that Flux Power has not complied with Nasdaq Listing Rule 5250(c)(1), due to its failure to file its Quarterly Report on Form 10-Q for the period ending September 30, 2024, and its Annual Report on Form 10-K for the fiscal year ending June 30, 2024, with the Securities and Exchange Commission (SEC).

Next Steps and Compliance Timeline

Currently, this notification does not affect the trading of the Company’s common stock on the Nasdaq. According to Nasdaq regulations, the Company has until December 16, 2024, to submit a plan for regaining compliance. If approved, Nasdaq may grant Flux Power up to 180 days from the due date of their Form 10-K to meet the requirements, with a final deadline of April 14, 2025. Should Nasdaq reject the Company’s plan, Flux will have the right to appeal this decision to a Nasdaq Hearings Panel.

Company Assurance of Compliance Efforts

Flux Power is actively working to finalize its Form 10-K and Form 10-Q and plans to file these reports as soon as possible to ensure compliance with Nasdaq rules.

About Flux Power Holdings, Inc.

Flux Power (FLUX) specializes in creating advanced lithium-ion energy storage solutions catering to various sectors, including material handling, airport ground support equipment (GSE), and stationary energy storage systems. Their lithium-ion battery packs, which come with a proprietary battery management system (BMS) and telemetry, offer a better-performing, low-cost, and environmentally friendly alternative to traditional lead-acid and propane-based systems. These battery packs help to reduce CO2 emissions, enhancing sustainability and ESG metrics for fleets. For additional details, visit www.fluxpower.com.

Understanding Forward-Looking Statements

This release contains “forward-looking statements” as defined by the Private Securities Litigation Reform Act of 1995 and other securities laws. These statements are not based on historical facts. Words like “anticipated,” “will,” and “expected” indicate forward-looking information about filing dates and compliance efforts. All such statements are subject to risks and uncertainties that could lead to actual outcomes differing significantly from expectations. Risks include issues related to financial reporting, potential litigation, and uncertainties impacting the Company’s business outlook. Readers are encouraged not to place undue reliance on these statements. Such forward-looking remarks are made only as of their stated date, and the Company does not commit to updating them unless legally obliged.

Flux, Flux Power, and related logos are trademarks of Flux Power Holdings, Inc. Other brand names and products mentioned are the property of their respective owners.

Connect with Flux Power:

Blog: Flux Power Blog

News: Flux Power News

Twitter: @FLUXpwr

LinkedIn: Flux Power

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