Flux Power Provides Update on Inventory Restatement and Timeline to Report Fiscal FY 2024 and Q1 2025 Financial Results [Yahoo! Finance]
Flux Power Holdings, Inc. (FLUX)
NASDAQ:AMEX Investor Relations:
fluxpwr.com/investors
Company Research
Source: Yahoo! Finance
for electrification of commercial and industrial equipment, today provided an update regarding its previously discussed restatement process and subsequent SEC filings for the fiscal fourth quarter and year ended June 30, 2024, and the fiscal first quarter ended September 30, 2024. On September 5, 2024, Flux announced that it had identified approximately $1.7 million of excess and obsolete inventory primarily related to product innovation and design of its products during a period of rapid growth over the last several years. A further detailed review of this and related items has resulted in estimated noncash inventory write-downs of approximately $4.4 million and related noncash warranty related items of approximately $0.5 million, totaling adjustments of approximately $4.9 million. This impact is not a one-time adjustment but impacting multiple quarters over multiple years. To properly reflect the obsolete inventory, the Company is currently in the process of restating previously i
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FLUX
News
- ROSEN, LEADING INVESTOR COUNSEL, Encourages Flux Power Holdings, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action First Filed by the Firm – FLUXGlobeNewswire
- Flux Power Provides Update on Inventory Restatement and Timeline to Report Fiscal FY 2024 and Q1 2025 Financial ResultsBusiness Wire
- FLUX INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Flux Power Holdings, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action LawsuitPR Newswire
- Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Flux Power Holdings, Inc. (FLUX)GlobeNewswire
- Flux Power Holdings, Inc. Is Being Sued For Violating Securities Laws And The Schall Law Firm Encourages Shareholder Participation Accesswire
FLUX
Earnings
- 5/9/24 - Miss
FLUX
Sec Filings
- 11/15/24 - Form 8-K
- 11/15/24 - Form NT
- 10/18/24 - Form 8-K
- FLUX's page on the SEC website