Company: FWDI
Filing Date: 2025-09-16
Form Type: 8-K
Source: 0001683168-25-007036
Chunk: 4

Company: Forward Industries, Inc.
Filing Date: 2025-09-16
Form: 8-K
Item: Item 8
Chunk 4
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737 
  
    Total assets 
    $14,768,356  
    $17,386,142 

    Liabilities and shareholders’ equity 

    Current liabilities: 

    Note payable to Forward China (related party) 
    $600,000  
    $– 
  
    Accounts payable 
     103,581  
     495,449 
  
    Deferred income 
     399,439  
     297,407 
  
    Current portion of operating lease liability 
     404,056  
     416,042 
  
    Accrued expenses and other current liabilities 
     571,662  
     1,310,945 
  
    Liabilities held for sale 
     7,292,858  
     8,316,256 
  
    Total current liabilities 
     9,371,596  
     10,836,099 

    Other liabilities: 

    Note payable to Forward China (related party) 
     –  
     1,100,000 
  
    Operating lease liability, less current portion 
     2,429,726  
     2,833,782 
  
    Total liabilities 
     11,801,322  
     14,769,881 

    Commitments and contingencies (Note 12) 
     –  
     – 

    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 and 0 shares issued and outstanding at September 30, 2024
    and 2023, respectively (liquidation preference of $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 September 30, 2024 and 2023 
     11,011  
     11,011 
  
    Additional paid-in capital 
     20,393,163  
     20,291,803 
  
    Accumulated deficit 
     (19,637,140) 
     (17,686,553)
  
    Total shareholders’ equity