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EXCEL - IDEA: XBRL DOCUMENT - Flux Power Holdings, Inc.Financial_Report.xls
10-Q - FORM 10-Q - Flux Power Holdings, Inc.v327527_10q.htm
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v2.4.0.6
LIQUIDITY MATTERS
3 Months Ended
Sep. 30, 2012
Liquidity [Abstract]  
LIQUIDITY MATTERS

NOTE 3 – LIQUIDITY MATTERS

 

The Company has evaluated the expected cash requirements over the next twelve months, which includes, but is not limited to, investments in additional sales and marketing and product development resources, capital expenditures, and working capital requirements. The Company believes it has sufficient funds for the next twelve months from September 30, 2012, as it expects to cover its anticipated operating expenses through cash on hand, collections on additional customer billings, proceeds from the private placement of equity securities and borrowings under the existing stockholder credit facilities. 

 

During the three months ended September 30, 2012 the Company issued 2,293,567 shares of common stock and 458,732 warrants for a total net proceeds approximating $903,000. On October 30, 2012, we completed an additional closing under the private placement pursuant to which we issued 241,437 shares of our common stock 48,287 five year warrants for a total net proceeds approximating $93,000.  

 

As of September 30, 2012, the Company has borrowing availability totaling $1,900,000 under existing credit facilities (See Note 4).

 

We may require additional financing in the future. The timing of the Company’s need for additional capital will depend in part on its future operating performance in terms of revenue growth and the level of operating expenses and capital expenditures incurred.

 

However, there is no guarantee the Company will be able to obtain additional required funds in the future or that funds will be available on terms acceptable to the Company. If such funds are not available, management will be required to curtail its investments in additional sales and marketing and product development resources, and capital expenditures, which may have a material adverse effect on the Company’s future cash flows and results of operations, and its ability to continue operating as a going concern.