Company: FWDI
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001683168-25-009068
Chunk: 773

Company: Forward Industries, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 5
Chunk 773
---
 reconciliation
of segment loss from continuing operations before taxes to our consolidated loss from continuing operations before income taxes.

    Schedule of reconciliation
of segment loss 

    Fiscal 2025  
    Fiscal 2024 
  
    Design segment loss from continuing operations before income taxes 
    $(5,159,000) 
    $104,000 
  
    Digital assets segment loss from continuing operations before income taxes 
     (156,162,000) 
     – 
  
    Corporate and other non-segment expenses 
     (7,748,000) 
     (2,247,000)
  
    Consolidated loss from continuing operations before income taxes 
    $(169,069,000) 
    $(2,143,000)

Segment assets consist of accounts
receivable and digital assets, which are regularly reviewed by the CODM, as well as goodwill and intangible assets resulting from design
segment acquisitions.

    Schedule of segment assets 

    Segment Assets at September 30, 

    2025  
    2024 
  
    Design segment 
    $3,380,000  
    $5,820,000 
  
    Digital assets segment 
     1,430,486,000  
     – 
  
    Total segment assets 
     1,433,866,000  
     5,820,000 
  
    General corporate assets 
     41,076,000  
     6,040,000 
  
    Discontinued assets held for sale 
     –  
     2,908,000 
  
    Total assets 
    $1,474,942,000  
    $14,768,000 

     F-39 

FORWARD INDUSTRIES, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Geographic Concentrations

The Company’s long-lived
assets consist of property and equipment and operating lease right-of-use assets, all of which are located in the United States. The Company’s
consolidated net revenues for Fiscal 2025 and 2024 are from customers predominantly located in the United States.

Customer Concentrations 

Revenues from one design segment
customer represented 12.4% of the Company’s consolidated net revenues in Fiscal 2025 and revenue from two design customers represented
48.4% of the Company’s consolidated net revenues in Fiscal 2024.