Company: FWDI
Filing Date: 2025-09-16
Form Type: 8-K
Source: 0001683168-25-007036
Chunk: 44

Company: Forward Industries, Inc.
Filing Date: 2025-09-16
Form: 8-K
Item: Item 8
Chunk 44
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UNAUDITED)

    For the Three Months Ended December 31, 

    2024  
    2023 
  
    Operating Activities: 

    Net loss 
    $(708,065) 
    $(354,220)
  
    Adjustments to reconcile net loss to net cash used in operating activities: 

    Share-based compensation 
     20,328  
     50,811 
  
    Depreciation and amortization 
     83,748  
     81,192 
  
    Credit loss expense/(recoveries) 
     24,060  
     (10,991)
  
    Goodwill impairment 
     225,000  
     – 
  
    Changes in operating assets and liabilities: 

    Accounts receivable 
     (216,388) 
     975,521 
  
    Contract assets 
     388,290  
     (364,208)
  
    Prepaid expenses and other current assets 
     34,421  
     (26,578)
  
    Accounts payable 
     46,517  
     (119,880)
  
    Deferred income 
     (120,832) 
     (47,002)
  
    Net changes in operating lease liabilities 
     214  
     4,385 
  
    Accrued expenses and other current liabilities 
     (130,616) 
     (859,402)
  
    Net cash used in operating activities-continuing operations 
     (353,323) 
     (670,372)
  
    Net cash (used in) / provided by operating activities-discontinued operations 
     (80,960) 
     576,342 
  
    Net cash used in operating activities 
     (434,283) 
     (94,030)

    Investing Activities: 

    Purchases of property and equipment 
     (5,418) 
     (19,514)
  
    Net cash used in investing activities 
     (5,418) 
     (19,514)

    Financing Activities: 

    Repayment of note payable to Forward China (related party) 
     –  
     (250,000)
  
    Net cash used in financing activities 
     –  
     (250,000)

    Net decrease in cash 
     (439,701)