Company: FWDI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001683168-25-006141
Chunk: 8

Company: Forward Industries, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 8
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    Credit loss expense 
     29,073  
     3,033 
  
    Goodwill impairment 
     225,000  
     – 
  
    Gain on change in fair value of warrant liability 
     (160,223) 
     – 
  
    Gain on sale of OEM segment 
     (1,405,972) 
     – 
  
    Changes in operating assets and liabilities: 

    Accounts receivable 
     1,085,858  
     1,203,806 
  
    Contract assets 
     548,088  
     (393,593)
  
    Prepaid expenses and other current assets 
     (704) 
     (84,706)
  
    Accounts payable 
     105,230  
     (373,018)
  
    Deferred income 
     (89,463) 
     (92,412)
  
    Net changes in operating lease liabilities 
     2,674  
     11,948 
  
    Accrued expenses and other current liabilities 
     (260,655) 
     (707,391)
  
    Net cash used in operating activities-continuing operations 
     (2,595,483) 
     (1,409,653)
  
    Net cash provided by operating activities-discontinued operations 
     396,153  
     1,462,214 
  
    Net cash (used in) / provided by operating activities 
     (2,199,330) 
     52,561 

    Investing Activities: 

    Cash paid for sale of OEM segment 
     (200,000) 
     – 
  
    Purchases of property and equipment 
     (25,777) 
     (50,074)
  
    Net cash used in investing activities 
     (225,777) 
     (50,074)

    Financing Activities: 

    Proceeds from issuance of preferred stock and warrants, net of related
    issuance costs 
     970,946  
     – 
  
    Deferred financing cost associated with equity line of credit 
     (59,802) 
     – 
  
    Repayment of note payable to Forward China (related party) 
     –  
     (500,000)
  
    Net cash provided by/(used in) financing activities 
     911