Company: FWDI
Filing Date: 2025-09-16
Form Type: 8-K
Source: 0001683168-25-007036
Chunk: 76

Company: Forward Industries, Inc.
Filing Date: 2025-09-16
Form: 8-K
Item: Item 1
Chunk 76
---
  
     68,737 
  
    Total assets 
    $13,492,305  
    $14,768,356 

    Liabilities and shareholders' equity 

    Current liabilities: 

    Note payable to Forward China (related party) 
    $600,000  
    $600,000 
  
    Accounts payable 
     150,098  
     103,581 
  
    Deferred income 
     278,607  
     399,439 
  
    Current portion of operating lease liability 
     454,509  
     404,056 
  
    Accrued expenses and other current liabilities 
     441,046  
     571,662 
  
    Liabilities held for sale 
     6,862,552  
     7,292,858 
  
    Total current liabilities 
     8,786,812  
     9,371,596 

    Other liabilities: 

    Operating lease liability, less current portion 
     2,426,196  
     2,429,726 
  
    Total liabilities 
     11,213,008  
     11,801,322 

    Commitments and contingencies 
     –  
     – 

    Shareholders' equity: 

  Series A-1 Convertible Preferred Stock, par value $0.01 per share; stated value of $1,000 per share;
  2,700 shares authorized, 2,200 shares issued and outstanding at December 31, 2024 and September 30, 2024 (liquidation preference of
  $2,200,000)

  2,200,000

  2,200,000

  Common stock, 40,000,000 shares authorized; par value $0.01 per share;1,101,069
  shares issued and outstanding at December 31, 2024 and September 30, 2024

  11,011

  11,011

    Additional paid-in capital 
     20,413,491  
     20,393,163 
  
    Accumulated deficit 
     (20,345,205) 
     (19,637,140)
  
    Total shareholders' equity 
     2,279,297  
     2,967,034 
  
    Total liabilities and shareholders