Company: FWDI
Filing Date: 2025-09-16
Form Type: 8-K
Source: 0001683168-25-007036
Chunk: 31

Company: Forward Industries, Inc.
Filing Date: 2025-09-16
Form: 8-K
Item: Item 8
Chunk 31
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%)
  
    Effect of state tax rate change 
     1.9%  
     (8.5%)
  
    Change in valuation allowance 
     (12.6%) 
     95.7% 
  
    Permanent differences 
     (0.1%) 
     2.9% 

    Effective tax rate 
     (1.3%) 
     11.2% 

At September 30, 2024 and 2023,
the Company had no uncertain tax positions or related interest or penalties requiring accrual. It is the Company’s policy to recognize
interest and/or penalties, if any, related to income tax matters in income tax expense in the consolidated statements of operations. For
the periods presented in the accompanying consolidated statements of operations, no material income tax related interest or penalties
were assessed or recorded. All fiscal years prior to the fiscal year ended September 30, 2021, are closed to federal and state examination.

NOTE 11        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 the conversion of preferred stock, using the if-converted method. A reconciliation of basic
and diluted earnings/loss per share is as follows: 

    Schedule of reconciliation of basic and diluted earnings/loss per share 

    For the Fiscal Years Ended 

    September 30, 

    2024  
    2023 
  
    Numerator: 

    Loss from continuing operations 
    $(2,166,179) 
    $(62,129)
  
    Income/(loss) from discontinued operations, net of tax 
     215,592  
     (3,674,528)
  
    Net loss 
    $(1,950,587) 
    $(3,736,657)

    Denominator: 

    Weighted average common shares outstanding 
     1,101,069  
     1,101,069 
  
    Dilutive common share equivalents 
     –  
     – 
  
    Weighted average dilutive shares outstanding