Company: FWDI
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001683168-25-000993
Chunk: 43

Company: Forward Industries, Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Item 2
Chunk 43
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The following discussion
and analysis should be read in conjunction with our unaudited condensed consolidated financial statements, and the notes thereto, and
other financial information appearing elsewhere in this Quarterly Report on Form 10-Q and the audited consolidated financial statements
and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended September 30, 2024.  The following discussion
and analysis compares our condensed consolidated results of operations for the three months ended December 31, 2024 (the “2025 Quarter)
with those for the three months ended December 31, 2023 (the “2024 Quarter”).  All dollar amounts and percentages presented
herein have been rounded to approximate values.

Cautionary Note Regarding Forward-Looking Statements

This report contains “forward-looking
statements”, as such term is used within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements
include, among other things, statements regarding our liquidity, plans on repaying outstanding debt obligations, as well as other statements
regarding our future operations, financial condition and prospects, and business strategies. Forward-looking statements generally can
be identified by words such as "anticipates," "believes," "estimates," "expects," "intends,"
"plans," "predicts," "projects," "will be," "will continue," "will likely result,"
and similar expressions. These forward-looking statements are based on current expectations and assumptions that are subject to risks
and uncertainties, which could cause our actual results to differ materially and adversely from those reflected in the forward-looking
statements. These risks include the inability to expand our customer base, loss of additional customers, pricing pressures, lack of success
of our sales people, failure to develop products at a profit, supply chain issues, unexpected tariffs placed on products we purchase from
China, inability to maintain compliance with Nasdaq listing standards, inability
of our design division’s customers to pay for our services, unanticipated issues with our affiliated sourcing agent, issues at Chinese
factories that source our products, and failure to obtain acceptance of our products. No assurance can be given that the actual results
will be consistent with the forward-looking statements. Investors should read carefully the factors described in the “Risk Factors”
section of the Company’s filings with the SEC, including the Company’s Form 10-K for the year ended September 30, 2024 for
information regarding risk factors that could affect the Company’s results