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FLUX POWER HOLDINGS, INC. (OTCMKTS:FLUX) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01

Effective as of December 3, 2019, Flux Power, Inc. (“Flux”), a wholly-owned subsidiary of Flux Power Holdings, Inc. (the “Registrant”), and Cleveland Capital, L.P. (“Cleveland”), holder of the Unsecured Promissory Note issued on July 3, 2019 (“Original Note”), and as amended to the First Amendment to the Unsecured Promissory Note, dated September 1, 2019 (“Frist Amendment,” and together with the Original Note, the “Amended Note”), executed the Second Amendment to the Unsecured Promissory Note (“Second Amendment”) which (i) extends the maturity date of the Amended Noted from December 1, 2019 to December 31, 2019 , and (ii) waives any Event of Default (as defined in the Original Note) arising from the failure of Flux to make the requirement payment due on December 1, 2019 under the Amended Note.

This summary of terms of the Second Amendment is not complete and is qualified in its entirety by the terms and conditions of the Second Amendment, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

The information disclosed in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

Flux Power Holdings, Inc. Exhibit
EX-10.1 2 ex10-1.htm   Exhibit 10.1   SECOND AMENDMENT TO THE UNSECURED PROMISSORY NOTE   THIS SECOND AMENDMENT TO THE UNSECURED PROMISSORY NOTE (this “Second Amendment”),…
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About FLUX POWER HOLDINGS, INC. (OTCMKTS:FLUX)

Flux Power Holdings, Inc., designs, develops and sells rechargeable advanced lithium-ion batteries for industrial uses, including UL 2771 Listed lithium-ion LiFT Pack forklift batteries. The Company offers a high power battery cell management system (BMS). Its BMS provides three functions to its battery systems: cell balancing, performed by adjusting the capacity of each cell in a storage system according to temperature, voltage, and internal impedance metrics; monitoring, performed by way of a physical connection to individual cells for monitoring voltage and performing calculations from basic metrics to determine remaining capacity and internal impedance, and error reporting, performed by analyzing data from monitoring each individual cell and making decisions on whether the individual cell or the system is operating out of normal specifications. Using its battery management technology, it offers integrated energy storage solutions or custom modular standalone systems to its clients.