Company: FWDI
Filing Date: 2025-09-16
Form Type: 8-K
Source: 0001683168-25-007036
Chunk: 67

Company: Forward Industries, Inc.
Filing Date: 2025-09-16
Form: 8-K
Item: Item 8
Chunk 67
---
 presented solely to
present recast financial information to reflect these organizational structure changes. Accordingly, the following information speaks
as of the original filing date and should be read in conjunction with the Quarterly Report and our other filings with the SEC since the
date of the Quarterly Report.

In addition to historical
information, this report includes “forward-looking statements”, as such term is used within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements include, among other things, statements regarding our liquidity, plans on repaying outstanding
debt obligations, as well as other statements regarding our future operations, financial condition and prospects, and business strategies.
Forward-looking statements generally can be identified by words such as “anticipates,” “believes,” “estimates,”
“expects,” “intends,” “plans,” “predicts,” “projects,” “will be,”
“will continue,” “will likely result,” and similar expressions. These forward-looking statements are based on
current expectations and assumptions that are subject to risks and uncertainties, which could cause our actual results to differ materially
and adversely from those reflected in the forward-looking statements. Factors that could cause or contribute to such differences include,
but are not limited to, those discussed in the Quarterly Report, and in particular, the risks discussed under the caption “Risk
Factors” in Item 1A of the Annual Report and those discussed in other documents we file with the SEC. We undertake no obligation
to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. Given these
risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements.

Business Overview

Forward Industries, Inc.
is a global design, company serving top tier medical and technology customers. The Company provides
hardware and software product design and engineering services to customers predominantly located in the U.S. 

In June 2024, the Company’s
stockholders authorized, and the Company’s Board of Directors approved, a 1-for-10 reverse stock split of our common stock, which became
effective on June 18, 2024. Accordingly, all references made to share, per share, or common share amounts in the accompanying condensed
consolidated financial statements and applicable disclosures have been retroactively adjusted to reflect the reverse stock split.

Discontinued Operations

Considering the recurring
losses incurred by the retail distribution segment, in July 2023, we decided to cease operations of our retail distribution