Company: FWDI
Filing Date: 2025-09-16
Form Type: 8-K
Source: 0001683168-25-007036
Chunk: 41

Company: Forward Industries, Inc.
Filing Date: 2025-09-16
Form: 8-K
Item: Item 8
Chunk 41
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 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' equity 
    $13,492,305  
    $14,768,356 

The accompanying notes are
an integral part of the unaudited condensed consolidated financial statements.

 F-29 

FORWARD INDUSTRIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

    For the Three Months Ended December 31, 

    2024  
    2023 

    Revenues, net 
    $4,624,449  
    $5,141,832 
  
    Cost of sales 
     3,491,428  
     3,700,020 
  
    Gross profit 
     1,133,021  
     1,441,812 

    Sales and marketing expenses 
     160,069  
     208,692 
  
    General and administrative expenses 
     1,645,982  
     1,597,621 
  
    Goodwill impairment 
     225,000  
     – 

    Operating loss 
     (898,030) 
     (364,501)

    Interest income 
     (15,594) 
     (17,469)
  
    Interest expense - related party 
     11,967  
     19,010 
  
    Other expense/(income), net 
     3,372  
     (687)
  
    Loss from