From the Shark Jack's bash prompt, issue the sysupgrade command relevant to your firmware update file (e.g. "sysupgrade -n /tmp/upgrade-1.1.0.bin")
Wait 5-10 minutes as the Shark Jack flashes the firmware and reboots.
DO NOT unplug the device from USB power during this process as doing so will render the device inoperable. This process will require 5-10 minutes. Powering off the Shark Jack at this time will result in damage to the device.