Company: FWDI
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001683168-25-003548
Chunk: 6

Company: Forward Industries, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 6
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,495  
     165,888 
  
    Credit loss expense 
     24,059  
     793 
  
    Goodwill impairment 
     225,000  
     – 
  
    Changes in operating assets and liabilities: 

    Accounts receivable 
     912,432  
     617,637 
  
    Prepaid expenses and other current assets 
     67,771  
     (63,671)
  
    Accounts payable 
     33,825  
     (399,081)
  
    Deferred income 
     (44,401) 
     (68,580)
  
    Net changes in operating lease liabilities 
     1,240  
     8,288 
  
    Accrued expenses and other current liabilities 
     (152,849) 
     (784,520)
  
    Net cash used in operating activities – continuing
    operations 
     (879,655) 
     (1,369,640)
  
    Net cash (used in)/provided by operating activities – discontinued operations 
     (92,242) 
     986,188 
  
    Net cash used in operating activities 
     (971,897) 
     (383,452)

    Investing Activities: 

    Purchases of property and equipment 
     (6,851) 
     (40,858)
  
    Net cash used in investing activities 
     (6,851) 
     (40,858)

    Financing Activities: 

    Repayment of note payable to Forward China (related party) 
     –  
     (350,000)
  
    Net cash used in financing activities 
     –  
     (350,000)

    Net decrease in cash 
     (978,748) 
     (774,310)
  
    Cash at beginning of period 
     2,777,125  
     2,822,509 
  
    Cash at end of period 
    $1,798,377  
    $2,048,199 

    Supplemental Disclosures of Cash Flow Information: 

    Cash paid for interest 
    $23,803  
    $35,981 
  
    Cash paid for taxes 
    $4,225  
    $4,498 

    Supplemental Disclosures of Non-Cash Information: