Flux Power (FLUX) 10-Q 10 Nov 22 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Sep. 30, 2022	Nov. 07, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--06-30
Entity File Number	001-31543
Entity Registrant Name	FLUX POWER HOLDINGS, INC.
Entity Central Index Key	0001083743
Entity Tax Identification Number	86-0931332
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	2685 S. Melrose Drive
Entity Address, City or Town	Vista
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92081
City Area Code	877
Local Phone Number	505-3589
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	FLUX
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		16,028,906

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2022	Jun. 30, 2022
Current assets:
Cash	$ 306,000	$ 485,000
Accounts receivable	11,596,000	8,609,000
Inventories, net	18,878,000	16,262,000
Other current assets	1,308,000	1,261,000
Total current assets	32,088,000	26,617,000
Right of use asset	2,558,000	2,597,000
Property, plant and equipment, net	1,758,000	1,578,000
Other assets	42,000	89,000
Total assets	36,446,000	30,881,000
Current liabilities:
Accounts payable	13,505,000	6,645,000
Accrued expenses	2,228,000	2,209,000
Line of credit	5,651,000	4,889,000
Deferred revenue	347,000	163,000
Customer deposits	10,000	175,000
Vehicle lease payable, current portion	13,000
Office lease payable, current portion	523,000	504,000
Accrued interest	2,000	1,000
Total current liabilities	22,279,000	14,586,000
Office lease payable, less current portion	2,222,000	2,361,000
Vehicle lease payable, less current portion	55,000
Total liabilities	24,556,000	16,947,000
Stockholders’ equity:
Preferred stock, $0.001 par value; 500,000 shares authorized; none issued and outstanding
Common stock, $0.001 par value; 30,000,000 shares authorized; 15,998,336 and 15,996,658 shares issued and outstanding at September 30, 2022 and June 30, 2022, respectively	16,000	16,000
Additional paid-in capital	95,827,000	95,732,000
Accumulated deficit	(83,953,000)	(81,814,000)
Total stockholders’ equity	11,890,000	13,934,000
Total liabilities and stockholders’ equity	$ 36,446,000	$ 30,881,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Jun. 30, 2022
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	30,000,000	30,000,000
Common stock, shares issued	15,998,336	15,996,658
Common stock, shares outstanding	15,998,336	15,996,658

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenues	$ 17,840,000	$ 6,271,000
Cost of sales	13,892,000	4,933,000
Gross profit	3,948,000	1,338,000
Operating expenses:
Selling and administrative	4,536,000	3,498,000
Research and development	1,223,000	1,967,000
Total operating expenses	5,759,000	5,465,000
Operating loss	(1,811,000)	(4,127,000)
Interest expense	(328,000)	(3,000)
Net loss	$ (2,139,000)	$ (4,130,000)
Net loss per share - basic and diluted	$ (0.13)	$ (0.30)
Weighted average number of common shares outstanding - basic and diluted	15,997,296	13,804,475

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Jun. 30, 2021	$ 14,000	$ 79,197,000	$ (66,205,000)	$ 13,006,000
Beginning balance, shares at Jun. 30, 2021	13,652,164
Issuance of common stock – exercised options
Issuance of common stock - exercised options, shares	1,696			3,400
Stock based compensation		200,000		$ 200,000
Net loss			(4,130,000)	(4,130,000)
Issuance of common stock and warrants – registered direct offering, net of costs	$ 2,000	14,074,000		14,076,000
Issuance of common stock and warrants - registered direct offering, net of costs, shares	2,142,860
Issuance of common stock – public offering, net of costs		1,602,000		1,602,000
Issuance of common stock - public offering, net of costs, shares	190,782
Ending balance, value at Sep. 30, 2021	$ 16,000	95,073,000	(70,335,000)	24,754,000
Ending balance, shares at Sep. 30, 2021	15,987,502
Beginning balance, value at Jun. 30, 2022	$ 16,000	95,732,000	(81,814,000)	13,934,000
Beginning balance, shares at Jun. 30, 2022	15,996,658
Issuance of common stock – exercised options
Issuance of common stock - exercised options, shares	1,678
Stock based compensation		95,000		$ 95,000
Net loss			(2,139,000)	(2,139,000)
Ending balance, value at Sep. 30, 2022	$ 16,000	$ 95,827,000	$ (83,953,000)	$ 11,890,000
Ending balance, shares at Sep. 30, 2022	15,998,336

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022
Cash flows from operating activities:
Net loss	$ (2,139,000)	$ (4,130,000)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	172,000	123,000
Stock-based compensation	95,000	200,000
Amortization of debt discount	229,000
Noncash lease expense	117,000	106,000
Allowance for inventory reserve	25,000	24,000
Changes in operating assets and liabilities:
Accounts receivable	(2,987,000)	1,586,000
Inventories	(2,641,000)	(3,357,000)
Other current assets	(229,000)	(567,000)
Accounts payable	6,860,000	2,123,000
Accrued expenses	19,000	(675,000)
Accrued interest	1,000	1,000
Office lease payable	(120,000)	(104,000)
Vehicle lease payable	(10,000)
Deferred revenue	184,000	103,000
Customer deposits	(165,000)	151,000
Net cash used in operating activities	(589,000)	(4,416,000)	$ (23,900,000)
Cash flows from investing activities
Purchases of equipment	(352,000)	(238,000)
Net cash used in investing activities	(352,000)	(238,000)
Cash flows from financing activities:
Proceeds from issuance of common stock in registered direct offering, net of offering costs		14,076,000
Proceeds from issuance of common stock in public offering, net of offering costs		1,602,000
Proceeds from revolving line of credit	12,900,000
Payments of revolving line of credit	(12,138,000)
Net cash provided by financing activities	762,000	15,678,000
Net change in cash	(179,000)	11,024,000
Cash, beginning of period	485,000	4,713,000	4,713,000
Cash, end of period	306,000	15,737,000	$ 485,000
Supplemental Disclosures of Non-Cash Investing and Financing Activities:
Initial right of use asset recognition	78,000
Common stock issued for vested RSUs	5,000
Supplemental cash flow information:
Interest paid	$ 99,000	$ 2,000

NATURE OF BUSINESS

NATURE OF BUSINESS	3 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
NATURE OF BUSINESS	NOTE 1 - NATURE OF BUSINESS Basis of Presentation The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules of the Securities and Exchange Commission (“SEC”) applicable to interim reports of companies filing as a smaller reporting company. These financial statements should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2022 filed with the SEC on September 28, 2022. In the opinion of management, the accompanying condensed consolidated interim financial statements include all adjustments necessary in order to make the financial statements not misleading. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year or any other future period. Certain notes to the financial statements that would substantially duplicate the disclosures contained in the audited financial statements for the most recent fiscal year as reported in the Company’s Annual Report on Form 10-K have been omitted. The accompanying condensed consolidated balance sheet at June 30, 2022 has been derived from the audited balance sheet at June 30, 2022 contained in such Form 10-K. Nature of Business Flux Power Holdings, Inc. (“Flux”) was incorporated in 2008 in the State of Nevada, and Flux’s operations are conducted through its wholly owned subsidiary, Flux Power, Inc. (“Flux Power”), a California corporation (collectively, the “Company”). We design, develop, manufacture, and sell a portfolio of advanced lithium-ion energy storage solutions for electrification of a range of industrial commercial sectors which include material handling, airport ground support equipment (“GSE”), and stationary energy storage. We believe our mobile and stationary energy storage solutions provide customers with a reliable, high performing, cost effective, and more environmentally friendly alternative as compared to traditional lead acid and propane-based solutions. Our modular and scalable design allows different configurations of lithium-ion battery packs to be paired with our proprietary wireless battery management system to provide the level of energy storage required and “state of the art” real time monitoring of pack performance. We believe that the increasing demand for lithium-ion battery packs and more environmentally friendly energy storage solutions in the material handling sector should continue to drive our revenue growth. As used herein, the terms “we,” “us,” “our,” “Flux,” and “Company” mean Flux Power Holdings, Inc., unless otherwise indicated. All dollar amounts herein are in U.S. dollars unless otherwise stated.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Company’s significant accounting policies are described in Note 2, “Summary of Significant Accounting Policies,” in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2022. There have been no material changes in these policies or their application. Management has considered all recent accounting pronouncements issued since the last audit of the Company’s consolidated financial statements and believes that these recent pronouncements will not have a material effect on the Company’s condensed consolidated financial statements. Net Loss Per Common Share The Company calculates basic loss per common share by dividing net loss by the weighted average number of common shares outstanding during the periods. Diluted loss per common share includes the impact from all dilutive potential common shares relating to outstanding convertible securities. For the three months ended September 30, 2022 and 2021, basic and diluted weighted-average common shares outstanding were 15,997,296 13,804,475 2,144,745 1,938,461 At September 30, 2022 and 2021 potentially dilutive common shares outstanding that were excluded from diluted weighted-average common shares outstanding were as follows: SCHEDULE OF DILUTIVE COMMON SHARES OUTSTANDING EXCLUDED FROM DILUTIVE WEIGHTED AVERAGE COMMON SHARES OUTSTANDING September 30, 2022 September 30, 2021 Stock options 499,933 525,179 RSUs 272,898 126,969 Warrants 1,371,914 1,286,313 Total 2,144,745 1,938,461 Liquidity Considerations The accompanying financial statements and notes have been prepared assuming the Company will continue as a going concern. For the quarter ended September 30, 2022 and the year ended June 30, 2022, the Company generated negative cash flows from operations of $ 589,000 23.9 84.0 81.8 Historically the Company has not generated sufficient cash to fund its operations. Based on the Company’s ability to execute its proposed plans, to generate revenue from its existing backlog, management anticipates increased revenues as well as improvements in its gross margin over the next twelve (12) months. The Company has received new orders in the twelve-month period ended September 30, 2022, of approximately $ 61.6 As of November 4, 2022, we had cash balance of $ 248,000 1.4 4.0 5.7

ACCRUED EXPENSES

ACCRUED EXPENSES	3 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
ACCRUED EXPENSES	NOTE 3 – ACCRUED EXPENSES Accrued expenses consist of the following: SCHEDULE OF ACCRUED EXPENSES September 30, 2022 June 30, 2022 Payroll and bonus accrual $ 825,000 $ 767,000 PTO accrual 354,000 430,000 Warranty liability 1,049,000 1,012,000 Total Accrued expenses $ 2,228,000 $ 2,209,000

NOTES PAYABLE

NOTES PAYABLE	3 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTE 4 – NOTES PAYABLE Revolving Line of Credit On November 9, 2020, the Company entered into a Loan and Security Agreement (“Loan Agreement”) with Silicon Valley Bank (“SVB”). On October 29, 2021, the Company entered into a First Amendment to Loan and Security Agreement (“First Amendment”) with SVB which amended certain terms of the Loan Agreement including, but not limited to, increasing the amount of the revolving line of credit from $ 4.0 6.0 November 7, 2022 6.0 (i) Prime Rate plus two and a half percent (2.50%), or (ii) five and three-quarters percent (5.75%). The Company paid a non-refundable commitment fee of $ 15,000 In addition, under the Second Amendment, the interest rate terms for the outstanding principal under the Revolving LOC were amended to accrue interest at a floating per annum rate equal to the greater of either (A) Prime Rate plus three and one-half of one percent (3.50%) or (B) seven and one-half of one percent (7.50%). Interest payments are due monthly on the last day of the month. In addition, the Company is required to pay a quarterly unused facility fee equal to one-quarter of one percent (0.25%) per annum of the average daily unused portion of the $8.0 million commitment under the Revolving LOC 5,000.00 In connection with the Second Amendment, the Company issued a twelve-year 40,806 2.23 Amounts outstanding under the Revolving LOC are secured by substantially all tangible and intangible assets of the Company (including, without limitation, intellectual property) pursuant to the terms of the Amended Loan Agreement and the Intellectual Property Security Agreement dated as of October 29, 2021. During the quarter ended September 30, 2022, the Company had multiple LOC drawdowns totaling $ 12.9 12.1 5,651,000 2,349,000

RELATED PARTY DEBT AGREEMENTS

RELATED PARTY DEBT AGREEMENTS	3 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
RELATED PARTY DEBT AGREEMENTS	NOTE 5 - RELATED PARTY DEBT AGREEMENTS As of September 30, 2022 and June 30, 2022, the Company had no related party debt balance outstanding. Below are the activities for the Company’s related party debt agreements that existed during the periods ended September 30, 2022 and 2021 covered by the accompanying unaudited condensed consolidated financial statements. Subordinated Line of Credit Facility On May 11, 2022, the Company entered into a Credit Facility Agreement (the “Subordinated LOC”) with Cleveland Capital, L.P., a Delaware limited partnership (“Cleveland”), Herndon Plant Oakley, Ltd., (“HPO”), and other lenders (together with Cleveland and HPO, the “Lenders”). The Subordinated LOC provides the Company with a short-term line of credit (the “LOC”) not less than $ 3,000,000 5,000,000 4,000,000 Pursuant to the terms of the Subordinated LOC, each Lender severally agrees to make loans (each such loan, an “Advance”) up to such Lender’s Commitment Amount to the Company from time to time, until December 31, 2022 (the “Due Date”). The Company may, from time to time, prior to the Due Date, draw down, repay, and re-borrow on the Note, by giving notice to the Lenders of the amount to be requested to be drawn down. Each Note bears an interest rate of 15.0 2 The Subordinated LOC includes customary representations, warranties and covenants by the Company and the Lenders. The Company has also agreed to pay the legal fees of Cleveland’s counsel in an amount up to $ 10,000 In connection with entry into the Subordinated LOC, the Company paid to each Lender a one-time committee fee in cash equal to 3.5 128,000 2.53 (the number of warrants issued to each Lender is equal to the product of (i) 160,000 shares of common stock multiplied by (ii) the ratio represented by each Lender’s Commitment Amount divided by the $5,000,000) Pursuant to a selling agreement, dated as of May 11, 2022, the Company retained HPO as its placement agent in connection with the Subordinated LOC. As compensation for services rendered in conjunction with the Subordinated LOC, the Company paid HPO a finder fee equal to 3

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	3 Months Ended
	Sep. 30, 2022
Equity [Abstract]
STOCKHOLDERS’ EQUITY	NOTE 6 - STOCKHOLDERS’ EQUITY At-The-Market (“ATM”) Offering On December 21, 2020 the Company entered into a Sales Agreement (the “Sales Agreement”) with H.C. Wainwright & Co., LLC (“HCW”) to sell shares of its common stock, par value $ 0.001 The Company agreed to pay HCW a commission in an amount equal to 3.0 In addition, the Company agreed to reimburse HCW for certain legal and other expenses incurred up to a maximum of $50,000 to establish the ATM Offering, and $2,500 per quarter thereafter to maintain such program under the Sales Agreement On May 27, 2021, the Company filed Amendment No. 1 (the “Amendment”) to the prospectus supplement dated December 21, 2020 (the “Prospectus Supplement”) to increase the size of the ATM Offering from an aggregate offering price of up to $ 10 20 From December 21, 2020 through September 30, 2022, the Company sold an aggregate of 1,169,564 12.24 14.3 13.7 The Shares was registered under the Securities Act of 1933, as amended (the “Securities Act”), pursuant to the Company’s Registration Statement on Form S-3 (File No. 333-249521), declared effective by the Securities and Exchange Commission (the “Commission”) on October 26, 2020, and the Prospectus. Sales of the Shares, if any, may be made by any method permitted by law deemed to be an “at-the-market offering” as defined in Rule 415(a)(4) of the Securities Act. The Company or the HCW may, upon written notice to the other party in accordance with the terms of the Sales Agreement, suspend offers and sales of the Shares. The Company and HCW each have the right, in its sole discretion, to terminate the Sales Agreement at any time upon prior written notice pursuant to the terms and subject to the conditions set forth in the Sales Agreement. Registered Direct Offering On September 27, 2021, the Company closed a registered direct offering, priced at-the-market under Nasdaq rules (“RDO”) for the sale of 2,142,860 1,071,430 7.00 15.0 1.0 7.00 The securities sold in the RDO were sold pursuant to a “shelf” registration statement on Form S-3 (File No. 333-249521), including a base prospectus, previously filed with the Securities and Exchange Commission (the “SEC”) on October 16, 2020 and declared effective by the SEC on October 26, 2020. The registered direct offering of the securities was made by means of a prospectus supplement dated September 22, 2021 and filed with the SEC, that forms a part of the effective registration statement. Warrants In August 2020 and in conjunction with the Company’s public offering, the Company issued five-year 185,955 4.80 513,000 In connection with the Company’s RDO, in September 2021 the Company issued five-year 1,071,430 7.00 3,874,000 4.99 In May 2022 and in conjunction with entry into a credit facility with Cleveland Capital, L.P. (“Cleveland”), Herndon Plant Oakley, Ltd. (“HPO”), and other lenders (together with Cleveland and HPO, the “Lenders”), the Company issued five-year 128,000 2.53 173,000 In June 2022 and in conjunction with the entry into the Second Amendment to Loan and Security Agreement with Silicon Valley Bank (“SVB”), the Company issued twelve-year 40,806 2.23 80,000 Warrant detail for the three months ended September 30, 2022 is reflected below: SCHEDULE OF STOCK WARRANT ACTIVITY Number of Warrants Weighted Average Exercise Price Per Warrant Weighted Average Remaining Contract Term (# years) Warrants outstanding and exercisable at June 30, 2022 1,455,119 $ 6.10 Warrants issued 1,071,430 $ 7.00 Warrants cancelled (83,205 ) $ 4.00 Warrants outstanding and exercisable at September 30, 2022 1,371,914 $ 6.23 4.18 Warrant detail for the three months ended September 30, 2021 is reflected below: Number of Warrants Weighted Average Exercise Price Per Warrant Weighted Average Remaining Contract Term (# years) Warrants outstanding and exercisable at June 30, 2021 214,883 $ 4.49 Warrants issued 1,071,430 $ 7.00 Warrants outstanding at September 30, 2021 1,286,313 6.58 4.61 Warrants exercisable at September 30, 2021 968,670 $ 6.44 4.48 Stock Options In connection with the reverse acquisition of Flux Power, Inc in 2012, the Company assumed the 2010 Plan. As of September 30, 2022, there were 21,944 On February 17, 2015 the Company’s stockholders approved the 2014 Equity Incentive Plan (the “2014 Plan”). The 2014 Plan offers certain employees, directors, and consultants the opportunity to acquire the Company’s common stock subject to vesting requirements, and serves to encourage such persons to remain employed by the Company and to attract new employees. The 2014 Plan allows for the award of the Company’s common stock and options, up to 1,000,000 203,870 On April 29, 2021, the Company’s stockholders approved the 2021 Equity Incentive Plan (the “2021 Plan”). The 2021 Plan authorizes the issuance of awards for up to 2,000,000 Activity in the Company’s stock options during the three months ended September 30, 2022 and related balances outstanding as of that date are reflected below: SCHEDULE OF STOCK OPTIONS ACTIVITY Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contract Term (# years) Outstanding at June 30, 2022 503,433 $ 11.03 Granted - $ - Exercised - $ - Forfeited and cancelled (3,500 ) $ 13.60 Outstanding and exercisable at September 30, 2022 499,933 $ 11.02 4.31 Activity in the Company’s stock options during the three months ended September 30, 2021 and related balances outstanding as of that date are reflected below: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contract Term (# years) Outstanding at June 30, 2021 531,205 $ 11.02 Granted - $ - Exercised (3,400 ) $ 4.65 Forfeited and cancelled (2,626 ) $ 13.60 Outstanding at September 30, 2021 525,179 11.05 6.32 Exercisable at September 30, 2021 499,533 $ 10.97 6.25 Restricted Stock Units On November 5, 2020, the Company’s Board of Directors approved an amendment to the 2014 Plan, to allow grants of Restricted Stock Units (“RSUs”). Subject to vesting requirements set forth in the RSU Award Agreement, one share of common stock is issuable for one vested RSU. On November 5, 2020, the Board of Directors authorized the following RSUs to be granted under the amended 2014 Plan: (i) a total of 43,527 91,338 45,652 45,686 18,312 97,828 48,914 48,914 81,786 76,206 Activity in RSUs during the three months ended September 30, 2022 and related balances outstanding as of that date are reflected below: SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY Number of Shares Weighted Average Grant date Fair Value Weighted Average Remaining Contract Term (# years) Outstanding at June 30, 2022 304,221 $ 6.06 Granted 5,034 $ 2.70 Vested and settled (1,678 ) $ 2.70 Forfeited and cancelled (34,679 ) $ 7.06 Outstanding at September 30, 2022 272,898 $ 5.89 1.53 Activity in RSUs during the three months ended September 30, 2021 and related balances outstanding as of that date are reflected below: Number of Shares Weighted Average Grant date Fair Value Weighted Average Remaining Contract Term (# years) Outstanding at June 30, 2021 131,652 $ 9.25 Granted - $ - Forfeited and cancelled (4,683 ) $ 8.88 Outstanding at September 30, 2021 126,969 $ 9.26 2.59 Stock-based Compensation Stock-based compensation expense for the three months ended September 30, 2022 and 2021 represents the estimated fair value of stock options and RSUs at the time of grant amortized under the straight-line method over the expected vesting period and reduced for estimated forfeitures of options and RSUs. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from original estimates. At September 30, 2022, the aggregate intrinsic value of exercisable stock options was approximately $ 0 The following table summarizes stock-based compensation expense for employee and non-employee stock option and RSU grants: SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES 2022 2021 Three Months Ended 2022 2021 Research and development $ 26,000 $ 36,000 Selling and administrative 69,000 164,000 Total stock-based compensation expense $ 95,000 $ 200,000 At September 30, 2022, the unamortized stock-based compensation expense related to outstanding RSUs was approximately $ 690,000 1.53

CONCENTRATIONS

CONCENTRATIONS	3 Months Ended
	Sep. 30, 2022
Risks and Uncertainties [Abstract]
CONCENTRATIONS	NOTE 7 - CONCENTRATIONS Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and unsecured trade accounts receivable. The Company maintains cash balances in non-interest bearing bank deposit accounts at a California commercial bank. The Company’s cash balance at this institution is secured by the Federal Deposit Insurance Corporation up to $ 250,000 306,000 485,000 Customer Concentrations During the three months ended September 30, 2022, the Company had four (4) major customers that each represented more than 10% of revenues on an individual basis, and together represented approximately $ 13,021,000 73 During the three months ended September 30, 2021, the Company had four (4) major customers that each represented more than 10% of revenues on an individual basis, and together represented approximately $ 3,605,000 57 Suppliers/Vendor Concentrations The Company obtains several components and supplies included in its products from a group of suppliers. During the three months ended September 30, 2022, the Company had two (2) suppliers who accounted for more than 10% of total purchases on an individual basis, and together represented approximately $ 5,781,000 36 During the three months ended September 30, 2021, the Company had two (2) suppliers who accounted for more than 10% of total purchases on an individual basis, and together represented approximately $ 2,179,000 24

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8 - COMMITMENTS AND CONTINGENCIES From time to time, the Company may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. However, litigation is subject to inherent uncertainties and an adverse result in these or other matters may arise from time to time that may harm the Company’s business. The Company is not aware of any material legal proceedings currently pending or expected against the Company. Operating Leases On April 25, 2019 the Company signed a Standard Industrial/Commercial Multi-Tenant Lease (“Lease”) with Accutek to rent approximately 45,600 The Lease has an initial term of seven years and four months and commenced on or about June 28, 2019 The lease contains an option to extend the term for two periods of 24 months each, and the right of first refusal to lease an additional approximate 15,300 square feet 42,400 3 On February 26, 2020, the Company entered into the First Amendment to Standard Industrial/Commercial Multi-Tenant Lease dated April 25, 2019 (the “Amendment”) with Accutek to rent an additional 16,309 1,230 17,539 The lease for the additional space commenced 30 days following the occupancy date of the additional space and will terminate concurrently with the term of the original lease, which expires on November 20, 2026 0.93 8,300 On September 2, 2022 the Company leased a vehicle to be used for corporate transportation activities. The Lease has a term of sixty ( 60 1,100 Total lease expense was approximately $ 223,000 214,000 The Future Minimum Lease Payments as of September 30, 2022 are as follows: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS Year Ending June 30, 2023 (remaining nine months) $ 588,000 2024 804,000 2025 828,000 2026 853,000 2027 372,000 Thereafter 20,000 Total Future Minimum Lease Payments 3,465,000 Less: discount (652,000 ) Total lease liability $ 2,813,000

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9 - SUBSEQUENT EVENTS Amendment to Revolving Credit Facility with Silicon Valley Bank On November 7, 2022, we entered into a Third Amendment to Loan and Security Agreement (“Third Amendment”) with Silicon Valley Bank (“SVB”), which amended certain terms of the Loan and Security Agreement dated November 9, 2020, as amended on October 29, 2021, and as further amended on June 23, 2022 (together with the Third Amendment, the “Agreement”), including but not limited to, (i) extending the maturity date from November 7, 2022 to May 7, 2023 (the “Extension Period”), (ii) amending the financial covenants of the Company to cover the Extension Period, and (iii) amending the definition of Permitted Liens (as defined in the Third Amendment). Pursuant to the Third Amendment, the Company paid SVB a non-refundable amendment fee of $ 12,500 We have used the SVB Credit Facility from-time-to-time. As of September 30, 2022, the outstanding balance of the revolving line of credit was approximately $ 5.7 2.3 2022 Bonus Payout On October 31, 2022, the Compensation Committee and the Board approved the following cash bonuses to the following executive officers, whereby the final cash bonus payout was determined based on a payout percentage of the executive’s previous target cash bonus for fiscal year 2022: SCHEDULE OF DEFERRED COMPENSATION ARRANGEMENT WITH INDIVIDUAL Name Position Target Cash Bonus Payout Percentage Cash Bonus Payout Ronald F. Dutt Chief Executive Officer $ 137,500 40 % $ 55,055.00 Charles Scheiwe Chief Financial Officer $ 71,820 40 % $ 28,756.73 2023 Bonus Plan On October 31, 2022, the Compensation Committee also approved the bonus pool and performance criteria for the Annual Bonus Plan for the fiscal year 2023 (the “2023 Bonus”). For the Company’s fiscal year 2023, the performance goals applicable to a bonus are based on the Company achieving certain targets based on the Company’s annual revenue, Adjusted EBITDA (earnings before interest, income taxes, depreciation, amortization, and stock-based compensation), functional goals (the “Financial Targets”), in addition to individual performance objectives and additional bonus amounts if the Company’s financial results exceeds certain thresholds of the Financial Targets. The Compensation Committee approved the target cash bonuses under the 2023 Bonus based on the base salary for fiscal year 2023 for the following executive officers: SCHEDULE OF DEFERRED COMPENSATION ARRANGEMENT WITH INDIVIDUAL Name Position Base Salary Bonus Percentage of Base Salary Total Target Payout Maximum Payout (1) Ronald F. Dutt Chief Executive Officer $ 300,000 (2) 75 % $ 225,000 $ 270,000 Charles Scheiwe Chief Financial Officer $ 205,200 35 % $ 71,820 $ 86,184 (1) Subject to a bonus cap for achieving above set revenue target and a payout cap for achieving 10% positive Adjusted EBITDA. (2) To be effective during the second fiscal quarter of 2023. Stock Option Grant On October 31, 2022 (the “Grant Date”), the Compensation Committee approved the grant of incentive stock options (the “Options”) under the Company’s 2014 Equity Incentive Plan (the “2014 Plan”) and the Company’s 2021 Equity Incentive Plan (the “2021 Plan”) to certain employees of the Company or its subsidiary, Flux Power, Inc. The Options are subject to the terms and conditions provided in the form of Incentive Stock Option Agreement under the 2014 Plan (the “2014 Option Agreement”) or the form of Incentive Stock Option Agreement under the 2021 Plan (the “2021 Option Agreement”). The Options have an exercise price of $ 3.43 The following executive officers of the Company were granted Options under the 2021 Plan in such number and vesting schedule set forth as follows: SCHEDULE OF DEFERRED COMPENSATION ARRANGEMENT WITH INDIVIDUAL, SHARE BASED COMPENSATION Name Position Options* Vesting Schedule Ronald F. Dutt Chief Executive Officer 80,175 Four (4) equal annual installments commencing one year after the Grant Date Charles Scheiwe Chief Financial Officer 41,878 Four (4) equal annual installments commencing one year after the Grant Date * Subject to $ 100,000

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Net Loss Per Common Share	Net Loss Per Common Share The Company calculates basic loss per common share by dividing net loss by the weighted average number of common shares outstanding during the periods. Diluted loss per common share includes the impact from all dilutive potential common shares relating to outstanding convertible securities. For the three months ended September 30, 2022 and 2021, basic and diluted weighted-average common shares outstanding were 15,997,296 13,804,475 2,144,745 1,938,461 At September 30, 2022 and 2021 potentially dilutive common shares outstanding that were excluded from diluted weighted-average common shares outstanding were as follows: SCHEDULE OF DILUTIVE COMMON SHARES OUTSTANDING EXCLUDED FROM DILUTIVE WEIGHTED AVERAGE COMMON SHARES OUTSTANDING September 30, 2022 September 30, 2021 Stock options 499,933 525,179 RSUs 272,898 126,969 Warrants 1,371,914 1,286,313 Total 2,144,745 1,938,461
Liquidity Considerations	Liquidity Considerations The accompanying financial statements and notes have been prepared assuming the Company will continue as a going concern. For the quarter ended September 30, 2022 and the year ended June 30, 2022, the Company generated negative cash flows from operations of $ 589,000 23.9 84.0 81.8 Historically the Company has not generated sufficient cash to fund its operations. Based on the Company’s ability to execute its proposed plans, to generate revenue from its existing backlog, management anticipates increased revenues as well as improvements in its gross margin over the next twelve (12) months. The Company has received new orders in the twelve-month period ended September 30, 2022, of approximately $ 61.6 As of November 4, 2022, we had cash balance of $ 248,000 1.4 4.0 5.7

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
SCHEDULE OF DILUTIVE COMMON SHARES OUTSTANDING EXCLUDED FROM DILUTIVE WEIGHTED AVERAGE COMMON SHARES OUTSTANDING	At September 30, 2022 and 2021 potentially dilutive common shares outstanding that were excluded from diluted weighted-average common shares outstanding were as follows: SCHEDULE OF DILUTIVE COMMON SHARES OUTSTANDING EXCLUDED FROM DILUTIVE WEIGHTED AVERAGE COMMON SHARES OUTSTANDING September 30, 2022 September 30, 2021 Stock options 499,933 525,179 RSUs 272,898 126,969 Warrants 1,371,914 1,286,313 Total 2,144,745 1,938,461

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	3 Months Ended
	Sep. 30, 2022
Payables and Accruals [Abstract]
SCHEDULE OF ACCRUED EXPENSES	Accrued expenses consist of the following: SCHEDULE OF ACCRUED EXPENSES September 30, 2022 June 30, 2022 Payroll and bonus accrual $ 825,000 $ 767,000 PTO accrual 354,000 430,000 Warranty liability 1,049,000 1,012,000 Total Accrued expenses $ 2,228,000 $ 2,209,000

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	3 Months Ended
	Sep. 30, 2022
Equity [Abstract]
SCHEDULE OF STOCK WARRANT ACTIVITY	Warrant detail for the three months ended September 30, 2022 is reflected below: SCHEDULE OF STOCK WARRANT ACTIVITY Number of Warrants Weighted Average Exercise Price Per Warrant Weighted Average Remaining Contract Term (# years) Warrants outstanding and exercisable at June 30, 2022 1,455,119 $ 6.10 Warrants issued 1,071,430 $ 7.00 Warrants cancelled (83,205 ) $ 4.00 Warrants outstanding and exercisable at September 30, 2022 1,371,914 $ 6.23 4.18 Warrant detail for the three months ended September 30, 2021 is reflected below: Number of Warrants Weighted Average Exercise Price Per Warrant Weighted Average Remaining Contract Term (# years) Warrants outstanding and exercisable at June 30, 2021 214,883 $ 4.49 Warrants issued 1,071,430 $ 7.00 Warrants outstanding at September 30, 2021 1,286,313 6.58 4.61 Warrants exercisable at September 30, 2021 968,670 $ 6.44 4.48
SCHEDULE OF STOCK OPTIONS ACTIVITY	Activity in the Company’s stock options during the three months ended September 30, 2022 and related balances outstanding as of that date are reflected below: SCHEDULE OF STOCK OPTIONS ACTIVITY Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contract Term (# years) Outstanding at June 30, 2022 503,433 $ 11.03 Granted - $ - Exercised - $ - Forfeited and cancelled (3,500 ) $ 13.60 Outstanding and exercisable at September 30, 2022 499,933 $ 11.02 4.31 Activity in the Company’s stock options during the three months ended September 30, 2021 and related balances outstanding as of that date are reflected below: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contract Term (# years) Outstanding at June 30, 2021 531,205 $ 11.02 Granted - $ - Exercised (3,400 ) $ 4.65 Forfeited and cancelled (2,626 ) $ 13.60 Outstanding at September 30, 2021 525,179 11.05 6.32 Exercisable at September 30, 2021 499,533 $ 10.97 6.25
SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY	Activity in RSUs during the three months ended September 30, 2022 and related balances outstanding as of that date are reflected below: SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY Number of Shares Weighted Average Grant date Fair Value Weighted Average Remaining Contract Term (# years) Outstanding at June 30, 2022 304,221 $ 6.06 Granted 5,034 $ 2.70 Vested and settled (1,678 ) $ 2.70 Forfeited and cancelled (34,679 ) $ 7.06 Outstanding at September 30, 2022 272,898 $ 5.89 1.53 Activity in RSUs during the three months ended September 30, 2021 and related balances outstanding as of that date are reflected below: Number of Shares Weighted Average Grant date Fair Value Weighted Average Remaining Contract Term (# years) Outstanding at June 30, 2021 131,652 $ 9.25 Granted - $ - Forfeited and cancelled (4,683 ) $ 8.88 Outstanding at September 30, 2021 126,969 $ 9.26 2.59
SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES	The following table summarizes stock-based compensation expense for employee and non-employee stock option and RSU grants: SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES 2022 2021 Three Months Ended 2022 2021 Research and development $ 26,000 $ 36,000 Selling and administrative 69,000 164,000 Total stock-based compensation expense $ 95,000 $ 200,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS	The Future Minimum Lease Payments as of September 30, 2022 are as follows: SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS Year Ending June 30, 2023 (remaining nine months) $ 588,000 2024 804,000 2025 828,000 2026 853,000 2027 372,000 Thereafter 20,000 Total Future Minimum Lease Payments 3,465,000 Less: discount (652,000 ) Total lease liability $ 2,813,000

SUBSEQUENT EVENTS (Tables)

SUBSEQUENT EVENTS (Tables)	3 Months Ended
	Sep. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
SCHEDULE OF DEFERRED COMPENSATION ARRANGEMENT WITH INDIVIDUAL	On October 31, 2022, the Compensation Committee and the Board approved the following cash bonuses to the following executive officers, whereby the final cash bonus payout was determined based on a payout percentage of the executive’s previous target cash bonus for fiscal year 2022: SCHEDULE OF DEFERRED COMPENSATION ARRANGEMENT WITH INDIVIDUAL Name Position Target Cash Bonus Payout Percentage Cash Bonus Payout Ronald F. Dutt Chief Executive Officer $ 137,500 40 % $ 55,055.00 Charles Scheiwe Chief Financial Officer $ 71,820 40 % $ 28,756.73
SCHEDULE OF DEFERRED COMPENSATION ARRANGEMENT WITH INDIVIDUAL, SHARE BASED COMPENSATION	The following executive officers of the Company were granted Options under the 2021 Plan in such number and vesting schedule set forth as follows: SCHEDULE OF DEFERRED COMPENSATION ARRANGEMENT WITH INDIVIDUAL, SHARE BASED COMPENSATION Name Position Options* Vesting Schedule Ronald F. Dutt Chief Executive Officer 80,175 Four (4) equal annual installments commencing one year after the Grant Date Charles Scheiwe Chief Financial Officer 41,878 Four (4) equal annual installments commencing one year after the Grant Date * Subject to $ 100,000
2023 Bonus Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
SCHEDULE OF DEFERRED COMPENSATION ARRANGEMENT WITH INDIVIDUAL	The Compensation Committee approved the target cash bonuses under the 2023 Bonus based on the base salary for fiscal year 2023 for the following executive officers: SCHEDULE OF DEFERRED COMPENSATION ARRANGEMENT WITH INDIVIDUAL Name Position Base Salary Bonus Percentage of Base Salary Total Target Payout Maximum Payout (1) Ronald F. Dutt Chief Executive Officer $ 300,000 (2) 75 % $ 225,000 $ 270,000 Charles Scheiwe Chief Financial Officer $ 205,200 35 % $ 71,820 $ 86,184 (1) Subject to a bonus cap for achieving above set revenue target and a payout cap for achieving 10% positive Adjusted EBITDA. (2) To be effective during the second fiscal quarter of 2023.

SCHEDULE OF DILUTIVE COMMON SHA

SCHEDULE OF DILUTIVE COMMON SHARES OUTSTANDING EXCLUDED FROM DILUTIVE WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (Details) - shares	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	2,144,745	1,938,461
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	499,933	525,179
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	272,898	126,969
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total	1,371,914	1,286,313

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Nov. 04, 2022
Subsequent Event [Line Items]
Weighted average number of shares outstanding, basic	15,997,296	13,804,475
Weighted-average common shares outstanding excluded from diluted	2,144,745	1,938,461
Cash flow from operations	$ 589,000	$ 4,416,000	$ 23,900,000
Accumulated deficit	83,953,000		$ 81,814,000
Proceeds from customers	$ 61,600,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Cash balance				$ 248,000
Subsequent Event [Member] | ATM Agreement [Member]
Subsequent Event [Line Items]
Line of credit available for trade				5,700,000
Subsequent Event [Member] | SVB Credit Facility [Member]
Subsequent Event [Line Items]
Cash balance				1,400,000
Line of credit future draws				$ 4,000,000

SCHEDULE OF ACCRUED EXPENSES (D

SCHEDULE OF ACCRUED EXPENSES (Details) - USD ($)	Sep. 30, 2022	Jun. 30, 2022
Payables and Accruals [Abstract]
Payroll and bonus accrual	$ 825,000	$ 767,000
PTO accrual	354,000	430,000
Warranty liability	1,049,000	1,012,000
Total Accrued expenses	$ 2,228,000	$ 2,209,000

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - Silicon Valley Bank [Member] - Revolving Credit Facility [Member] - USD ($)		3 Months Ended
	Oct. 29, 2021	Sep. 30, 2022
Line of Credit Facility [Line Items]
Line of credit facility, drawdowns		$ 12,900,000
Line of credit facility, periodic payment		12,100,000
Line of credit		5,651,000
Line of credit facility, remaining borrowing capacity		$ 2,349,000
First Amendment [Member]
Line of Credit Facility [Line Items]
Revolving line of credit	$ 6,000,000
Line of credit maturity date	Nov. 07, 2022
Line of credit interest rate description	(i) Prime Rate plus two and a half percent (2.50%), or (ii) five and three-quarters percent (5.75%). The Company paid a non-refundable commitment fee of $15,000 upon execution of the Loan Agreement and an additional non-refundable commitment fee of $22,500 in connection with the First Amendment. On June 23, 2022, the Company entered into a Second Amendment to Loan and Security Agreement (“Second Amendment” and together with the Loan Agreement and First Amendment the “Amended Loan Agreement”) with Silicon Valley Bank (“SVB”), which amended certain terms of the Loan and Security Agreement dated November 9, 2020, as amended on October 29, 2021, including but not limited to, (i) to increase the amount of the revolving line of credit to $8.0 million, (ii) to change the financial covenants of the Company from tangible net worth of the Company to adjusted EBITDA (as defined in the Second Amendment) on a trailing six (6) month basis and liquidity ratio certified as of the end of each month pursuant to the calculations set forth therein, and (iii) to allow for the assignment and transfer by SVB of all of its obligations, rights and benefits under the Agreement and Loan Documents (as defined in the Agreement and except for the Warrants)
Non-refundable commitment fee	$ 15,000
First Amendment [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Revolving line of credit	4,000,000
First Amendment [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Revolving line of credit	$ 6,000,000
Second Amendment [Member]
Line of Credit Facility [Line Items]
Line of credit interest rate description	(A) Prime Rate plus three and one-half of one percent (3.50%) or (B) seven and one-half of one percent (7.50%). Interest payments are due monthly on the last day of the month. In addition, the Company is required to pay a quarterly unused facility fee equal to one-quarter of one percent (0.25%) per annum of the average daily unused portion of the $8.0 million commitment under the Revolving LOC
Non-refundable commitment fee	$ 5,000
Warrant term	12 years
Purchase of common stock into warrant shares	40,806
Warrant exercise price per share	$ 2.23

RELATED PARTY DEBT AGREEMENTS (

RELATED PARTY DEBT AGREEMENTS (Details Narrative) - USD ($)		3 Months Ended
	May 11, 2022	Sep. 30, 2022	Jun. 30, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Line of credit		$ 5,651,000	$ 4,889,000
Credit Facility Agreement [Member] | Lenders [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Commitment fee		$ 4,000,000
Line of credit interest rate	15%
Commitment fee percentage	2%
Commitment rate	3.50%
Purchase of common stock into warrants shares	128,000
Warrant exercise price	$ 2.53
Warrant description	(the number of warrants issued to each Lender is equal to the product of (i) 160,000 shares of common stock multiplied by (ii) the ratio represented by each Lender’s Commitment Amount divided by the $5,000,000)
Credit Facility Agreement [Member] | Lenders [Member] | Placement Agent [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Commitment fee percentage	3%
Credit Facility Agreement [Member] | Lenders [Member] | Minimum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Line of credit	$ 3,000,000
Credit Facility Agreement [Member] | Lenders [Member] | Maximum [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Line of credit	5,000,000
Legal fees	$ 10,000

SCHEDULE OF STOCK WARRANT ACTIV

SCHEDULE OF STOCK WARRANT ACTIVITY (Details) - Warrant [Member] - $ / shares	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of warrants, outstanding and exercisable, beginning balance	1,455,119	214,883
Weighted average exercise price, outstanding, beginning balance	$ 6.10	$ 4.49
Number of warrants, warrants issued		1,071,430
Weighted average exercise price, warrants issued		$ 7
Number of warrants, warrants cancelled	(83,205)
Weighted average exercise price per warrant, warrants cancelled	$ 4
Number of warrants, outstanding, ending balance	1,371,914	1,286,313
Weighted average exercise price per warrant, outstanding and exercisable, ending balance	$ 6.23	$ 6.58
Weighted average remaining contract term warrants outstanding	4 years 2 months 4 days	4 years 7 months 9 days
Number of warrants, exercisable, ending balance		968,670
Weighted average exercise price per warrant, exercisable, ending balance		$ 6.44
Weighted average remaining contract term warrants exercisable		4 years 5 months 23 days

SCHEDULE OF STOCK OPTIONS ACTIV

SCHEDULE OF STOCK OPTIONS ACTIVITY (Details) - $ / shares	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Equity [Abstract]
Number of shares, outstanding, beginning balance	503,433	531,205
Weighted average exercise price, outstanding, beginning balance	$ 11.03	$ 11.02
Number of shares, exercised
Weighted average exercise price, granted
Number of shares, exercised		(3,400)
Weighted average exercise price, exercised		$ 4.65
Number of shares, forfeited and cancelled	(3,500)	(2,626)
Weighted average exercise price, forfeited and cancelled	$ 13.60	$ 13.60
Number of shares, outstanding, ending balance	499,933	525,179
Weighted average exercise price, outstanding, ending balance	$ 11.02	$ 11.05
Weighted average remaining contract term stock options outstanding	4 years 3 months 21 days	6 years 3 months 25 days
Number of shares, exercisable, ending balance		499,533
Weighted average exercise price, exercisable, ending balance		$ 10.97
Weighted average remaining contract term stock options exercisable		6 years 3 months

SCHEDULE OF RESTRICTED STOCK UN

SCHEDULE OF RESTRICTED STOCK UNITS ACTIVITY (Details) - $ / shares	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Equity [Abstract]
Number of shares, outstanding, beginning balance	304,221	131,652
Weighted average grant date fair value, outstanding, beginning balance	$ 6.06	$ 9.25
Number of shares, granted	5,034
Weighted average drant date fair value, granted	$ 2.70
Number of shares, Vested and settled	(1,678)
Weighted average grant date fair value, Vested and settled	$ 2.70
Number of shares, forfeited and cancelled	(34,679)	(4,683)
Weighted average grant date fair value, forfeited and cancelled	$ 7.06	$ 8.88
Number of shares, outstanding, ending balance	272,898	126,969
Weighted average grant date fair value, outstanding, ending balance	$ 5.89	$ 9.26
Weighted average remaining contract term restricted stock outstanding	1 year 6 months 10 days	2 years 7 months 2 days

SCHEDULE OF STOCK-BASED COMPENS

SCHEDULE OF STOCK-BASED COMPENSATION EXPENSES (Details) - USD ($)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Total stock-based compensation expense	$ 95,000	$ 200,000
Research and Development Expense [Member]
Total stock-based compensation expense	26,000	36,000
Selling, General and Administrative Expenses [Member]
Total stock-based compensation expense	$ 69,000	$ 164,000

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)

1 Months Ended

3 Months Ended

21 Months Ended

Aug. 26, 2022

Apr. 29, 2022

Oct. 29, 2021

Sep. 27, 2021

May 27, 2021

Apr. 29, 2021

Dec. 21, 2020

Nov. 05, 2020

Jun. 30, 2022

May 31, 2022

Sep. 30, 2021

Aug. 31, 2020

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Feb. 17, 2015

Subsidiary, Sale of Stock [Line Items]

Proceeds from issuance of offering

$ 1,602,000

Aggregate intrinsic value of exercisable stock options

0

$ 0

Stock based compensation expenses related to RSUs outstanding not yet recognition

$ 690,000

$ 690,000

Stock based compensation expenses related to RSUs outstanding not yet recognition period

1 year 6 months 10 days

2010 Plan [Member]

Subsidiary, Sale of Stock [Line Items]

Common stock available for future grants

21,944

21,944

2014 Equity Incentive Plan [Member]

Subsidiary, Sale of Stock [Line Items]

Common stock available for future grants

203,870

203,870

2021 Equity Incentive Plan [Member]

Subsidiary, Sale of Stock [Line Items]

Number of authorized issuance of common stock options

2,000,000

2014 Plan [Member] | Performance-based RSU [Member]

Subsidiary, Sale of Stock [Line Items]

Number of restricted stock shares

48,914

45,652

2014 Plan [Member] | Time-based RSU [Member]

Subsidiary, Sale of Stock [Line Items]

Number of restricted stock shares

45,686

2014 Plan [Member] | Time-based RSU [Member]

Subsidiary, Sale of Stock [Line Items]

Number of restricted stock shares

76,206

76,206

48,914

18,312

Silicon Valley Bank [Member] | Second Amendment to Loan and Security Agreement [Member]

Subsidiary, Sale of Stock [Line Items]

Warrant to purchase common stock shares

40,806

Warrant exercise price

$ 2.23

Warrant term

12 years

Fair Value adjustment of warrants

$ 80,000

Investors [Member]

Subsidiary, Sale of Stock [Line Items]

Warrant to purchase common stock shares

1,071,430

1,071,430

Warrant exercise price

$ 7

$ 7

Warrant term

5 years

5 years

Fair Value adjustment of warrants

$ 3,874,000

Beneficial ownership percentage

4.99%

4.99%

Underwriters [Member]

Subsidiary, Sale of Stock [Line Items]

Warrant to purchase common stock shares

185,955

Warrant exercise price

$ 4.80

Warrant term

5 years

Fair Value adjustment of warrants

$ 513,000

Lenders [Member]

Subsidiary, Sale of Stock [Line Items]

Warrant to purchase common stock shares

128,000

Warrant exercise price

$ 2.53

Warrant term

5 years

Fair Value adjustment of warrants

$ 173,000

Executive Officers [Member] | 2014 Plan [Member] | Restricted Stock Units (RSUs) [Member]

Subsidiary, Sale of Stock [Line Items]

Number of restricted stock shares

97,828

43,527

Employees [Member] | 2014 Plan [Member] | Restricted Stock Units (RSUs) [Member]

Subsidiary, Sale of Stock [Line Items]

Number of restricted stock shares

91,338

Employees [Member] | 2014 Plan [Member] | Time-based RSU [Member]

Subsidiary, Sale of Stock [Line Items]

Number of restricted stock shares

81,786

Maximum [Member] | 2014 Equity Incentive Plan [Member]

Subsidiary, Sale of Stock [Line Items]

Number of authorized issuance of common stock options

1,000,000

ATM Offering [Member]

Subsidiary, Sale of Stock [Line Items]

Proceeds from issuance of offering

$ 14,300,000

Sale of common stock, shares

1,169,564

Sale of stock per share

$ 12.24

$ 12.24

Proceeds from issuance of common stock

$ 13,700,000

ATM Offering [Member] | Minimum [Member]

Subsidiary, Sale of Stock [Line Items]

Proceeds from issuance of offering

$ 10,000,000

ATM Offering [Member] | Maximum [Member]

Subsidiary, Sale of Stock [Line Items]

Proceeds from issuance of offering

$ 20,000,000

Registered Direct Offering [Member]

Subsidiary, Sale of Stock [Line Items]

Sale of common stock, shares

2,142,860

Warrant to purchase common stock shares

1,071,430

Share price

$ 7

Proceeds from issuance of warrants

$ 15,000,000

Deferred offering costs

$ 1,000,000

Warrant exercise price

$ 7

H.C. Wainwright & Co., LLC [Member]

Subsidiary, Sale of Stock [Line Items]

Share issued price per share

$ 0.001

Commission percentage

3%

Reimbursement description

In addition, the Company agreed to reimburse HCW for certain legal and other expenses incurred up to a maximum of $50,000 to establish the ATM Offering, and $2,500 per quarter thereafter to maintain such program under the Sales Agreement

CONCENTRATIONS (Details Narrati

CONCENTRATIONS (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022
Concentration Risk [Line Items]
Cash, FDIC insured amount	$ 250,000
Cash	306,000		$ 485,000
Revenue	17,840,000	$ 6,271,000
Four Major Customers [Member | Revenue from Contract with Customer Benchmark [Member] | Customer Concentration Risk [Member]
Concentration Risk [Line Items]
Revenue	$ 13,021,000	$ 3,605,000
Concentration risk, percentage	73%	57%
Two Suppliers [Member] | Purchase [Member] | Supplier Concentration Risk [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	36%	24%
Purchase	$ 5,781,000	$ 2,179,000

SCHEDULE OF FUTURE MINIMUM LEAS

SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS (Details)	Sep. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2023 (remaining nine months)	$ 588,000
2024	804,000
2025	828,000
2026	853,000
2027	372,000
Thereafter	20,000
Total Future Minimum Lease Payments	3,465,000
Less: discount	(652,000)
Total lease liability	$ 2,813,000

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative)				3 Months Ended
	Sep. 02, 2022 USD ($)	Feb. 26, 2020 USD ($) ft² $ / shares	Apr. 25, 2019 USD ($) ft²	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)
Monthly lease payment	$ 1,100
Lease term	60 months
Lease expense				$ 223,000	$ 214,000
Accutek [Member]
Area of land | ft²		17,539	45,600
Lease description		The lease for the additional space commenced 30 days following the occupancy date of the additional space and will terminate concurrently with the term of the original lease, which expires on November 20, 2026	The Lease has an initial term of seven years and four months and commenced on or about June 28, 2019
Lease option to extend			The lease contains an option to extend the term for two periods of 24 months each, and the right of first refusal to lease an additional approximate 15,300 square feet
Lease expiration date		Nov. 20, 2026
Lease, per rentable square | $ / shares		$ 0.93
Payments to acquire furniture and fixtures		$ 8,300
Accutek [Member] | Space [Member]
Area of land | ft²		16,309
Accutek [Member] | Residential Unit [Member]
Area of land | ft²		1,230
Accutek [Member] | First 12 Months [Member]
Monthly lease payment			$ 42,400
Escalating lease payment percentage			3%

SCHEDULE OF DEFERRED COMPENSATI

SCHEDULE OF DEFERRED COMPENSATION ARRANGEMENT WITH INDIVIDUAL (Details) - Subsequent Event [Member]	Oct. 31, 2022 USD ($)
Ronald F. Dutt [Member] | Chief Executive Officer [Member]
Subsequent Event [Line Items]
Target Cash Bonus	$ 137,500
Payout Percentage	40%
Cash Bonus Payout	$ 55,055
Ronald F. Dutt [Member] | Chief Executive Officer [Member] | 2023 Bonus Plan [Member]
Subsequent Event [Line Items]
Base Salary	$ 300,000	[1]
Bonus Percentage of Base Salary	75%
Total Target Payout	$ 225,000
Maximum Payout	270,000	[2]
Charles Scheiwe [Member] | Chief Financial Officer [Member]
Subsequent Event [Line Items]
Target Cash Bonus	$ 71,820
Payout Percentage	40%
Cash Bonus Payout	$ 28,756.73
Charles Scheiwe [Member] | Chief Financial Officer [Member] | 2023 Bonus Plan [Member]
Subsequent Event [Line Items]
Base Salary	$ 205,200
Bonus Percentage of Base Salary	35%
Total Target Payout	$ 71,820
Maximum Payout	$ 86,184	[2]
[1]To be effective during the second fiscal quarter of 2023.[2]Subject to a bonus cap for achieving above set revenue target and a payout cap for achieving 10% positive Adjusted EBITDA.

SCHEDULE OF DEFERRED COMPENSA_2

SCHEDULE OF DEFERRED COMPENSATION ARRANGEMENT WITH INDIVIDUAL, SHARE BASED COMPENSATION (Details) - shares			3 Months Ended
		Oct. 31, 2022	Sep. 30, 2022	Sep. 30, 2021
Subsequent Event [Line Items]
Options
Subsequent Event [Member] | Ronald F. Dutt [Member] | Chief Executive Officer [Member] | 2021 Equity Incentive Plan [Member]
Subsequent Event [Line Items]
Options	[1]	80,175
Vesting Schedule		Four (4) equal annual installments commencing one year after the Grant Date
Subsequent Event [Member] | Charles Scheiwe [Member] | Chief Financial Officer [Member] | 2021 Equity Incentive Plan [Member]
Subsequent Event [Line Items]
Options	[1]	41,878
Vesting Schedule		Four (4) equal annual installments commencing one year after the Grant Date
[1]Subject to $ 100,000

SCHEDULE OF DEFERRED COMPENSA_3

SCHEDULE OF DEFERRED COMPENSATION ARRANGEMENT WITH INDIVIDUAL, SHARE BASED COMPENSATION (Details) (Parenthetical)	Oct. 31, 2022 USD ($)
Subsequent Event [Member] | 2021 Equity Incentive Plan [Member]
Subsequent Event [Line Items]
ISO limitation	$ 100,000

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)			3 Months Ended
	Nov. 07, 2022	Oct. 31, 2022	Sep. 30, 2022	Sep. 30, 2021
Subsequent Event [Line Items]
Options exercise price				$ 4.65
Third Amendment to Loan and Security Agreement [Member] | Silicon Valley Bank [Member]
Subsequent Event [Line Items]
Line of credit			$ 5,700,000
Line of credit remaining borrowing capacity			$ 2,300,000
Subsequent Event [Member] | 2021 Equity Incentive Plan [Member]
Subsequent Event [Line Items]
Options exercise price		$ 3.43
Subsequent Event [Member] | Third Amendment to Loan and Security Agreement [Member] | Silicon Valley Bank [Member]
Subsequent Event [Line Items]
Line of credit, non-refundable commitment fee	$ 12,500