Company: FWDI
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001683168-25-009068
Chunk: 546

Company: Forward Industries, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 3
Chunk 546
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Fiscal 2024 Design Segment in Note 16, as to which the date is December 11, 2025.

 F-4 

FORWARD INDUSTRIES, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

    September 30,  
    September 30, 

    2025  
    2024 
  
    Assets 

    Current assets: 

    Cash 
    $38,166,973  
    $2,777,125 
  
    Accounts receivable, net of allowances for credit losses of $92,358 and $27,282 as of September 30, 2025 and 2024, respectively 
     1,635,171  
     2,308,425 
  
    Contract assets 
     1,064,264  
     1,272,993 
  
    Prepaid expenses and other current assets 
     355,548  
     382,832 
  
    Assets held for sale 
     –  
     2,908,039 
  
    Total current assets 
     41,221,956  
     9,649,414 

    Digital assets 
     1,430,486,289  
     – 
  
    Property and equipment, net 
     124,331  
     218,025 
  
    Intangible assets, net 
     –  
     680,386 
  
    Goodwill 
     –  
     1,558,682 
  
    Operating lease right-of-use assets, net 
     2,303,776  
     2,593,112 
  
    Other assets 
     806,137  
     68,737 
  
    Total assets 
    $1,474,942,489  
    $14,768,356 

    Liabilities and shareholders' equity 

    Current liabilities: 

    Note payable to Forward China (related party) 
    $–  
    $600,000 
  
    Accounts payable 
     433,044  
     103,581 
  
    Related party payables (Note 14) 
     923,513  
     – 
  
    Deferred income 
     292,525  
     399,439 
  
    Current portion of operating lease liability 
     450,