Company: FWDI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001683168-25-006141
Chunk: 29

Company: Forward Industries, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 29
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80 per share and an aggregate grant-date fair value of $60,000, which was recognized, net of forfeitures,
ratably over the vesting period.

There
were no options exercised during the three or nine months ended June 30, 2025 or 2024. 

The
Company recognized compensation expense for stock option awards of $39,000 and $20,000 during the three months ended June 30, 2025 and
2024, respectively, and $86,000 and $81,000 for the nine months ended June 30, 2025 and 2024, respectively, which was recorded as a component
of general and administrative expenses in its condensed consolidated statements of operations. At June 30, 2025 there was $154,000 of
total unrecognized compensation cost related to nonvested stock option awards that is expected to be recognized over a weighted average
period of 0.8 years. Options outstanding and exercisable at June 30, 2025 had a weighted average exercise price of $8.06 and $12.29, respectively.

     18 

  NOTE 7
  EARNINGS PER SHARE

Basic earnings per share
data for each period presented is computed using the weighted average number of shares of common stock outstanding during each such period.
Diluted earnings per share data is computed using the weighted average number of common and dilutive common equivalent shares outstanding
during each period. Dilutive common-equivalent shares consist of shares that would be issued upon the exercise of stock options and warrants,
computed using the treasury stock method, and convertible securities, computed using the if-converted method.

A reconciliation of basic
and diluted earnings per share is as follows:

    Schedule of reconciliation of basic and diluted earnings per share 

    For the Three Months Ended June
    30,  
    For the Nine  Months Ended June
    30, 

    2025  
    2024  
    2025  
    2024 
  
    Numerator: 

    Loss from continuing operations 
    $(2,404,353) 
    $(454,699) 
    $(5,124,337) 
    $(1,447,085)

    Less
                                            deemed dividend on Series B Convertible Preferred Stock
 
     (10,278) 
     –  
     (10,278) 
     – 
  
    Loss
                                            from