ESCONDIDO, CA--June 16, 2012: Flux Power® Holdings, Inc. (OTCQB: FLUX) and its operating subsidiary Flux Power, Inc. ("Flux Power") are pleased to announce the completion of the reverse acquisition of Flux Power Holdings, Inc. (formerly known as Lone Pine Holdings, Inc.), a Nevada corporation, and initiation of trading on the OTCQB exchange under the new symbol "FLUX".
Chris Anthony, CEO, said, "We're excited to take Flux Power to the public markets and would like to thank Michael Gardner and Baytree Capital LLC for assistance in this transaction. Flux Power addresses the fast growing multi-billion dollar market for advanced energy storage with lithium battery storage systems at a price that's significantly lower than legacy lead-acid battery systems and half that of other current lithium system technologies. Access to the public capital markets will help Flux reach its goals of market leadership in meeting what is projected by industry analysts to be a $60 billion annual global market for affordable energy storage for electric vehicles, grid storage and industrial/utility applications."
About Flux Power
Flux Power designs, develops, manufactures and sells cost efficient advanced energy storage systems. Incorporated in October 2009, Flux Power began shipping prototype products in the second quarter of 2010 while continuing to develop its intellectual property portfolio. Currently, Flux Power's product offerings include batteries in various sizes and forms, packaged modules, fully tested and validated advanced energy storage systems and various system accessories. These accessories include: stand-alone battery management, stackable chargers, programming software and display systems. Flux Power sells modular advanced energy storage products through distributors such as Dukes Garage, Electric Motor Sports, MCelectric, Jungle Motors and EV America. These customers benefit from Flux Power's proprietary system and cell technologies, which greatly extend cycle life and improve system performance. Flux Power's systems are also highly cost efficient proving less expensive than lead-acid technology over time in most applications.