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Flux Power Says It Identified $1.7M Of Excess And Obsolete Inventory; To Restate Previously Issued Financial Statements For FY23 And Interim Periods Of FY24

Author: Benzinga Newsdesk | September 05, 2024 04:03pm

The inventory write-down is a non-cash charge and will not impact cashflow. However, as a part of the restatement process, the Company may include additional adjustments other than inventory that may be identified during its review.

The Company also expects that its $16 million revolving credit facility with its financing partner Gibraltar Business Capital remains available subject to meeting certain lending criteria under the Loan Agreement.

Posted In: FLUX


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