Company: FWDI
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001683168-25-009068
Chunk: 170

Company: Forward Industries, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 1A
Chunk 170
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 developments and risk mitigation activities from management.

Our information technology team
is responsible for assessing and maintaining our cybersecurity risk management program and may engage third-party experts on an as-needed
basis for risk assessment and system enhancements. Our information technology team are experienced information systems security professionals
with many years of experience in the information technology field and various degrees and cybersecurity-related certifications.

ITEM 2.        PROPERTIES

We lease all properties where
our business is operated. We believe that these properties are adequate for the purposes for which they are used. All leases are with
unaffiliated third parties. We believe that the loss of any lease would not have a material adverse effect on our operations, as we believe
that we could identify and lease comparable facilities upon approximately equivalent terms. The properties which are material to the Company’s
business are described below:

We lease 14,000 square feet in
Hauppauge, New York for our executive offices and IPS, which we rent under a lease agreement scheduled to expire in April 2027. The lease
has annual escalations and rent payments were approximately $33,000 per month during Fiscal 2025.

We lease 11,000 square feet in
Coon Rapids, Minnesota for Kablooe, which we rent under a lease agreement scheduled to expire in June 2026. The lease has annual escalations
and rent payments were approximately $11,000 per month during Fiscal 2025.

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ITEM 3.        LEGAL PROCEEDINGS

From time to time, the Company
may become a party to legal actions or proceedings in the ordinary course of its business. As of September 30, 2025, and through the filing
date of this Form 10-K, there were no such actions or proceedings, either individually or in the aggregate, that, if decided adversely
to the Company’s interests, the Company believes would be material to its business.

ITEM 4.       
MINE SAFETY DISCLOSURES.

Not Applicable.

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PART II

    ITEM 5.
    MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

Market for Common Stock

The principal market for our
common stock is Nasdaq. Our common stock is traded under the symbol “FWDI”.

On December 5, 2025, the closing
price for our common stock was $8.20.

Holders of