Company: FWDI
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001683168-25-009068
Chunk: 1754

Company: Forward Industries, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 16
Chunk 1754
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of assets and liabilities held for sale on our consolidated financial statements at September 30, 2024: 

    Schedule of major components of assets and liabilities 

    Cash 
    $245,000 
  
    Accounts receivable, net 
     2,124,000 
  
    Inventories 
     490,000 
  
    Prepaid expenses and other current assets 
     49,000 
  
    Total assets held for sale 
    $2,908,000 

    Accounts payable 
    $25,000 
  
    Due to Forward China 
     7,226,000 
  
    Other current liabilities 
     42,000 
  
    Total liabilities held for sale 
    $7,293,000 

     F-18 

FORWARD INDUSTRIES, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 4         INTANGIBLE ASSETS
AND GOODWILL 

Intangible Assets

The Company’s intangible
assets consist of the following: 

    Schedule of intangible assets 

    September 30, 2025  
    September 30, 2024 

    Trademarks  
    Customer Relationships  
    Total Intangible Assets  
    Trademarks  
    Customer Relationships  
    Total Intangible Assets 

    Gross carrying amount 
    $585,000  
    $1,390,000  
    $1,975,000  
    $585,000  
    $1,390,000  
    $1,975,000 
  
    Less accumulated amortization 
     (281,000) 
     (1,226,000) 
     (1,507,000) 
     (242,000) 
     (1,053,000) 
     (1,295,000)
  
    Impairment loss 
     (304,000) 
     (164,000) 
     (468,000) 
     –  
     –  
     – 
  
    Net carrying amount 
    $–  
    $–  
    $–  
    $343,000  
    $337,000  
    $680,000 

The Company’s intangible
assets resulted from the acquisitions of Kablooe and IPS in Fiscal 2020 and