Company: FORA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001140361-25-042313
Chunk: 9

Company: Forian Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 9
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 Termination and Wind Down Agreement with the vendor providing for a reduction of fees for the period through the termination date of $175,000. As a result, the Company recorded an adjustment of $175,000 included in cost of revenues during the three months ended June 30, 2025, representing previously recorded charges under the contract that will not be paid. 

  11
  

 Vendor Concentration 

   During the three months ended September 30, 2025, the Company had two vendors, representing 19.1% and 11.4% of purchases and expenses and during the nine months ended September 30, 2025, the Company had two vendors representing 20.2% and 11.5% of purchases and expenses. 

   During the three months ended September 30, 2024, the Company had two vendors, representing 16.2% and 10.7% of purchases and expenses and during the nine months ended September 30, 2024, the Company had four vendors representing 24.4%, 13.7%, 12.6%, and 10.8% of purchases and expenses. 

   Property and Equipment, Net 

   Property and equipment are stated at cost, net of accumulated depreciation, which is recorded commencing at the in-service date using the straight-line method at rates sufficient to charge the cost of depreciable assets to operations over their estimated useful lives, which are 1 to 7 years. Maintenance and repairs are charged to operations as incurred. 

   Long-Lived Assets, Including Definite Lived Intangible Assets 

   The Company reviews for the impairment of long-lived assets annually and whenever events and or changes in circumstances indicate that the carrying value of an asset may not be recoverable. Such indicators include, among others, the nature of the asset, the projected future economic benefit of the asset, historical and future cash flows and profitability measurements. An impairment loss would be recognized when the value of the undiscounted estimated future cash flows expected to result from the use of the asset and its eventual disposition is less than the carrying value. There were no impairment losses recognized during the three and nine months ended September 30, 2025 and 2024. 

   Contingencies 

   Occasionally, the Company may be involved in claims and legal proceedings arising from the ordinary course of its business. The Company records a provision for a liability when it believes that it is both probable that a liability has been incurred and the amount can