Blueprint
As
Filed with the Securities and Exchange Commission on February 13,
2019
Registration
No. 333- ________
_____________________________________________________
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
S-8
REGISTRATION
STATEMENT UNDER
THE SECURITIES ACT OF 1933
FLUX POWER HOLDINGS, INC.
(Exact
name of registrant as specified in its charter)
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Nevada
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86-0931332
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(State or other
jurisdiction of
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(I.R.S.
Employer
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incorporation or
organization)
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Identification
No.)
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985 Poinsettia Avenue, Suite A,
Vista, California 92081
(Address
of principal executive offices, including zip code)
Flux Power, Inc. 2010 Stock Plan
Flux Power Holdings, Inc. 2014 Equity Incentive Plan, as
amended
July 30, 2013 Non-Qualified Stock Option Agreement for Ronald
Dutt
July 30, 2013 Non-Qualified Stock Option Agreement for four (4)
Employees
March 13, 2014 Non-Qualified Stock Option Agreement for Chris
Anthony
March 13, 2014 Non-Qualified Stock Option Agreement for Michael
Johnson
March 13, 2014 Non-Qualified Stock Option Agreement for James
Gevarges
(Full
title of the plans)
Ronald
Dutt, Chief Executive Officer
Flux
Power Holdings, Inc.
985 Poinsettia Avenue, Suite A,
Vista, California 92081
877-505-3589
(Name,
address, including zip code, and telephone number, including area
code, of agent for service)
______________________
Please send copies of all communications to:
John P.
Yung, Esq.
Lewis
Brisbois Bisgaard & Smith LLP
2020
West El Camino Avenue, Suite 700
Sacramento,
CA 95833
916-564-5400
Indicate
by check mark whether the registrant is a large accelerated filer,
an accelerated filer, a non-accelerated filer, a smaller reporting
company or an emerging growth company. See the definitions of
“large accelerated filer,” “accelerated
filer” and “smaller reporting company” in Rule
12b-2 of the Exchange Act.
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Large
accelerated filer
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☐
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Accelerated
filer
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☐
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Non-accelerated
filer
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☐
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Smaller
reporting company
Emerging
growth company
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☑
☐
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If an
emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 7(a)(2)(B) of the Securities Act.
CALCULATION OF REGISTRATION FEE
Title
of securities to be registered
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Amount to be
registered(1)
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Proposed maximum
offering price per share
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Proposed maximum
aggregate offering price
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Amount of
registration fee
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Common Stock,
$0.001 par value
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3,452,522(2)
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$0.87(3)
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$3,003,695
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$365
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Common Stock,
$0.001 par value
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223,126
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$1.00(4)
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$223,126
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$28
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Common Stock,
$0.001 par value
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90,000
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$3.10(4)
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$279,000
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$34
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Common Stock,
$0.001 par value
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10,000,000
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$1.43(5)
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$14,300,000
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$1,734
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(1)
This Registration
Statement shall also cover any additional shares of Common Stock
which become issuable by reason of any stock dividend, stock split,
recapitalization or other similar transaction effected without the
receipt of consideration which results in an increase in the number
of outstanding shares of Common Stock of Flux Power Holdings,
Inc.
(2)
The number of
shares being registered is the number of shares issuable pursuant
to options outstanding as of January 24, 2019, under the (i) Flux
Power, Inc. 2010 Stock Plan (“2010 Plan”) which was
assumed pursuant to the Share Exchange Agreement, dated May 18,
2012, by and among Flux Power Holdings, Inc., Flux Power, Inc., and
its shareholders, Mr. Chris Anthony, Esenjay Investments, LLC and
Mr. James Gevarges, based on an exchange ratio of 2.9547039
(“Share Exchange Ratio”), and (ii) Flux Power Holdings,
Inc. 2014 Equity Incentive Plan, as amended (“2014
Plan”). The maximum number of securities issuable under the
2010 Plan is 71,652 shares of common stock.
(3)
Pursuant to Rule
457(h) of the Securities Act of 1933, as amended, (the
“Securities Act”), the offering price is based on the
weighted average exercise price per share as to outstanding but
unexercised options under the 2010 Plan as of February 7, 2019,
based on the Share Exchange Ratio, and the 2014 Plan.
(4)
Calculated in
accordance with Rule 457(h) under the Securities Act.
(5)
Calculated in
accordance with Rule 457(c) and (h) of the Securities Act. Estimate
for the sole purpose of calculating the registration fee and based
upon the average of the high and low price per share of the common
stock of the Registrant on February 7, 2019, as quoted on the OTCQB.
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The
document(s) containing the information specified in Part I will be
sent or given to employees as specified by Rule 428(b)(1) of the
Securities Act. Such documents are not being filed with the
Securities and Exchange Commission (“Commission”)
either as part of this registration statement or as prospectuses or
prospectus supplements pursuant to Rule 424 of the Securities Act.
Such documents and the documents incorporated by reference in this
registration statement pursuant to Item 3 of Part II hereof, taken
together, constitute a prospectus that meets the requirements of
Section 10(a) of the Securities Act.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The
Registrant hereby incorporates by reference into this Registration
Statement the following documents and information previously filed
with the Commission, except to the extent of information which was
furnished rather than filed by the Registrant, all such furnished
information specifically not being incorporated by reference
herein:
(1)
The
Registrant’s Annual Report on Form 10-K for the fiscal year
ended June 30, 2018;
(2)
The
Registrant’s Quarterly Report on Form 10-Q for the quarter
ended December 31, 2018, filed with the Commission on February 13,
2019; and
(3)
The description of
the Registrant’s Common Stock, par value $0.001, contained in
the Amendment No. 2 to Form 8-K filed August 29, 2012, which amends
the description of the Registrant’s Common Stock on
Registrant’s Form 10-SB filed September 16, 1999, pursuant to
Section 12(g) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”).
All
reports and definitive proxy or information statements filed
pursuant to Sections 13(a), 13(c), 14 or 15(d) of the 1934 Act
after the date of this Registration Statement and prior to the
filing of a post-effective amendment which indicates that all
securities offered hereby have been sold or which de-registers all
securities then remaining unsold shall be deemed to be incorporated
by reference into this Registration Statement and to be a part
hereof from the date of the filing of such documents; except as to
any portion of any future annual or quarterly report to
stockholders or document or current report furnished under Items
2.02 or 7.01 of Form 8-K that is not deemed filed under such
provisions. Any statement contained in a document incorporated or
deemed to be incorporated by reference herein shall be deemed to be
modified or superseded for purposes of this Registration Statement
to the extent that a statement contained herein or in any other
subsequently filed document that also is deemed to be incorporated
by reference herein modifies or supersedes such statement. Any such
statement so modified or superseded shall not be deemed, except as
so modified or superseded, to constitute a part of this
Registration Statement. Under no circumstances will any information
furnished under Items 2.02 or 7.01 of Form 8-K be deemed
incorporated herein by reference unless such Form 8-K expressly
provides to the contrary.
Item 4. Description of Securities.
Not
applicable.
Item 5. Interests of Named Experts and Counsel.
Not
applicable.
Item 6. Indemnification of Directors and Officers.
Nevada Law
Section
78.138 of the Nevada Revised Statute (“NRS”) provides
that a director or officer will not be individually liable unless
it is proven that (i) the director’s or officer’s acts
or omissions constituted a breach of his or her fiduciary duties,
and (ii) such breach involved intentional misconduct, fraud or a
knowing violation of the law.
Section
78.7502 of NRS permits a company to indemnify its directors and
officers against expenses, judgments, fines and amounts paid in
settlement actually and reasonably incurred in connection with a
threatened, pending or completed action, suit or proceeding if the
officer or director (i) is not liable pursuant to NRS 78.138 or
(ii) acted in good faith and in a manner the officer or director
reasonably believed to be in or not opposed to the best interests
of the corporation and, if a criminal action or proceeding, had no
reasonable cause to believe the conduct of the officer or director
was unlawful.
Section
78.751 of NRS permits a Nevada company to indemnify its officers
and directors against expenses incurred by them in defending a
civil or criminal action, suit or proceeding as they are incurred
and in advance of final disposition thereof, upon receipt of an
undertaking by or on behalf of the officer or director to repay the
amount if it is ultimately determined by a court of competent
jurisdiction that such officer or director is not entitled to be
indemnified by the company. Section 78.751 of NRS further permits
the company to grant its directors and officers additional rights
of indemnification under its Articles of Incorporation or bylaws or
otherwise.
Section
78.752 of NRS provides that a Nevada company may purchase and
maintain insurance or make other financial arrangements on behalf
of any person who is or was a director, officer, employee or agent
of the company, or is or was serving at the request of the company
as a director, officer, employee or agent of another company,
partnership, joint venture, trust or other enterprise, for any
liability asserted against him and liability and expenses incurred
by him in his capacity as a director, officer, employee or agent,
or arising out of his status as such, whether or not the company
has the authority to indemnify him against such liability and
expenses.
Charter Provisions and Other Arrangements of the
Registrant
Our
Articles of Incorporation provide that no director or officer of
the Registrant will be personally liable to the Registrant or any
of its stockholders for damages for breach of fiduciary duty as a
director or officer; provided, however, that the foregoing
provision shall not eliminate or limit the liability of a director
or officer (i) for acts or omissions which involve intentional
misconduct, fraud or knowing violation of law, or (ii) the payment
of dividends in violation of Section 78.300 of NRS. In addition,
our bylaws implement the indemnification and insurance provisions
permitted by Chapter 78 of the NRS by providing that:
The
Registrant shall indemnify its directors to the fullest extent
permitted by the NRS and may, if and to the extent authorized by
the Board of Directors, so indemnify its officers and any other
person whom it has the power to indemnify against liability,
reasonable expense or other matter whatsoever.
The
Registrant may at the discretion of the Board of Directors purchase
and maintain insurance on behalf of any person who holds or who has
held any position identified in the paragraph above against any and
all liability incurred by such person in any such position or
arising out of his status as such.
Insofar
as indemnification by us for liabilities arising under the
Securities Act of 1933 may be permitted to our directors, officers
or persons controlling the company pursuant to provisions of our
Articles of Incorporation and bylaws, or otherwise, we have been
advised that in the opinion of the SEC, such indemnification is
against public policy as expressed in the Securities Act and is
therefore unenforceable. In the event that a claim for
indemnification by such director, officer or controlling person of
us in the successful defense of any action, suit or proceeding is
asserted by such director, officer or controlling person in
connection with the securities being offered, we will, unless in
the opinion of our counsel the matter has been settled by
controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by us is
against public policy as expressed in the Securities Act and will
be governed by the final adjudication of such issue.
Indemnification Agreements
The
Registrant has entered into Indemnification Agreements with each of
its directors and officers, and maintains directors’ and
officers’ liability insurance under which its directors and
officers are insured against loss (as defined in the policy) as a
result of certain claims brought against them in such
capacities.
Item 7. Exemption from Registration Claimed.
Not
applicable.
Item 8. Exhibits.
Exhibit
Number
Description of Exhibit
Restated Articles
of Incorporation (filed as Exhibit 3.1 on Form 8-K filed with the
Commission on February 19, 2015, and incorporated herein by
reference).
Amended and
Restated Bylaws of Flux Power Holdings, Inc. (filed as Exhibit 3.1
on Form 8-K filed with the Commission on May 31, 2012, and
incorporated herein by reference)..
Certificate of
Amendment to Articles of Incorporation (filed as Exhibit 3.1 on
Form 8-K filed with the Commission on August 18, 2017, and
incorporated herein by reference).
Flux Power, Inc.
2010 Stock Plan (filed as Exhibit 10.5 on Form 8-K filed with the
Commission on June 18, 2012, and incorporated herein by
reference).
Flux Power, Inc.
2010 Stock Plan: Form of Stock Option Agreement (filed as Exhibit
10.6 on Form 8-K filed with the SEC on June 18, 2012, and
incorporated herein by reference).
Flux Power
Holdings, Inc. 2014 Equity Incentive Plan (filed as Exhibit 10.23
on Form 10-Q filed with the Commission on May 15, 2015, and
incorporated herein by reference).
Amendment to the
Flux Power Holdings Inc. 2014 Equity Incentive Plan (filed as
Exhibit 10.20 to the Form 10-K filed with the Commission on
September 27, 2018, and incorporated herein by
reference).
Flux Power
Holdings, Inc. 2014 Equity Incentive Plan: Form of Incentive Stock
Option Agreement.
Flux Power
Holdings, Inc. 2014 Equity Incentive Plan: Form of Non-Qualified
Stock Option Agreement.
Form of
Non-qualified Stock Option Agreement for certain employees, Ronald
F. Dutt, Chris Anthony, Michael Johnson, James Gevarges, and
Michael Johnson (filed as Exhibit 10.1 to the Form 8-K filed with
the Commission on August 2, 2013, and incorporated herein by
reference).
Opinion of Lewis
Brisbois Bisgaard & Smith LLP.
Consent of Lewis
Brisbois Bisgaard & Smith LLP (contained in Exhibit
5.1).
Consent of Squar
Milner LLP, Independent Registered Public Accounting
Firm.
______________________
* Filed
herewith.
Item 9. Undertakings.
A.
The undersigned Registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made,
a post-effective amendment to this registration
statement:
(a)
To include any prospectus required by Section 10(a)(3) of the
Securities Act;
(b)
To reflect in the prospectus any facts or events arising after the
effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the
aggregate, represent a fundamental change in the information set
forth in the registration statement; and
(c)
To include any material information with respect to the plan of
distribution not previously disclosed in the registration statement
or any material change to such information in the registration
statement;
Provided, however,
that paragraphs (A)(1)(a) and (A)(1)(b) do not apply if the
information required to be included in a post-effective amendment
by those paragraphs is contained in periodic reports filed with or
furnished to the Commission by the Registrant pursuant to Section
13 or 15(d) of the Exchange Act that are incorporated by reference
in the registration statement.
(2)
That, for the purpose of determining any liability under the
Securities Act, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering
thereof.
(3)
To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the
termination of the offering.
B.
The undersigned Registrant hereby undertakes that, for purposes of
determining liability under the Securities Act, each filing of the
Registrant’s annual report pursuant to Section 13(a) or 15(d)
of the Exchange Act that is incorporated by reference in this
registration statement shall be deemed a new registration statement
relating to the securities offered therein, and the offering of
such securities at that time shall be deemed to be the initial
bona fide offering
thereof.
C.
Insofar as indemnification for liabilities arising under the
Securities Act may be permitted to directors, officers and
controlling persons of the Registrant pursuant to the foregoing
provisions, or otherwise, the Registrant has been advised that in
the opinion of the Commission such indemnification is against
public policy as expressed in the Securities Act and is, therefore,
unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant
of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being
registered, the Registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in
the Securities Act and will be governed by the final adjudication
of such issue.
SIGNATURES
Pursuant to the
requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets
all of the requirements for filing on Form S-8 and has duly caused
this registration statement to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Vista,
California.
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FLUX
POWER HOLDINGS, INC.,
a Nevada
corporation
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Dated: February 13,
2019
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By:
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/s/ Ronald F.
Dutt
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Ronald F.
Dutt,
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Chief Executive
Officer
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POWER OF ATTORNEY AND SIGNATURE
We, the
undersigned officers and directors of Flux Power Holdings, Inc.
(the “Company”), hereby severally constitute and
appoint Ronald F. Dutt, our true and lawful attorney, with full
power to him to sign for us and in our names in the capacities
indicated below, any and all amendments to this Registration
Statement, and all other documents in connection therewith to be
filed with the Securities and Exchange Commission, and generally to
do all things in our names and on our behalf in such capacities to
enable the Company to comply with the provisions of the Securities
Act of 1933, as amended, and all requirements of the Securities and
Exchange Commission.
Pursuant to the
requirements of the Securities Act of 1933, this registration
statement has been signed by the following persons in the
capacities and on the date indicated.
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Dated: February 13,
2019
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By:
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/s/ Christopher
Anthony,
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Christopher
Anthony, Chairman
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Dated: February 13,
2019
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By:
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/s/ Ronald F.
Dutt
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Ronald F.
Dutt,
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Director, Chief
Executive Officer
(Principal
Executive Officer)
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Dated: February 13,
2019
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By:
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/s/ Chuck
Scheiwe
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Chuck
Scheiwe,
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Chief
Financial Officer
(Principal
Accounting Officer)
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Dated: February 13,
2019
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By:
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/s/ Michael
Johnson
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Michael Johnson,
Director
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Dated: February 13,
2019
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By:
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/s/ James
Gevarges
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James Gevarges,
Director
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