Company: FWDI
Filing Date: 2025-09-16
Form Type: 8-K
Source: 0001683168-25-007036
Chunk: 96

Company: Forward Industries, Inc.
Filing Date: 2025-09-16
Form: 8-K
Item: Item 1
Chunk 96
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 1, 2023, the Company
granted options to three of its non-employee directors to purchase an aggregate of 33,243 shares of its common stock at an exercise price
of $7.60 per share. The options vested one year from the date of grant, expire five years from the date of the grant and 11,081 were forfeited
prior to vesting. The options have a weighted average grant-date fair value of $3.60 per share and an aggregate grant-date fair value
of $120,000, which was recognized, net of forfeitures, ratably over the vesting period.

There
were no options exercised during the three months ended December 31, 2024 or 2023. 

The
Company recognized compensation expense for stock option awards of $20,000 and $51,000 during the three months ended December 31, 2024
and 2023, respectively, which was recorded as a component of general and administrative expenses in its condensed consolidated statements
of operations. As of December 31, 2024, there was $60,000 of total unrecognized compensation cost related to nonvested stock option awards
that is expected to be recognized over a weighted average period of 0.8 years.

NOTE 7        EARNINGS PER SHARE 

Basic earnings per share
data for each period presented is computed using the weighted average number of shares of common stock outstanding during each such period.
Diluted earnings per share data is computed using the weighted average number of common and dilutive common equivalent shares outstanding
during each period. Dilutive common-equivalent shares consist of shares that would be issued upon the exercise of stock options and warrants,
computed using the treasury stock method. A reconciliation of basic and diluted earnings per share is as follows:

    Schedule of reconciliation of basic and diluted earnings per share 

    For the Three Months Ended 

    December 31, 

    2024  
    2023 
  
    Numerator: 

    Loss from continuing operations 
    $(898,000) 
    $(365,000)
  
    Income from discontinued operations, net of tax 
     190,000  
     11,000 
  
    Net loss 
    $(708,000) 
    $(354,000)

    Denominator: 

    Weighted average common shares outstanding 
     1,101,000  
     1,101,000