Company: FWDI
Filing Date: 2025-09-16
Form Type: 8-K
Source: 0001683168-25-007036
Chunk: 97

Company: Forward Industries, Inc.
Filing Date: 2025-09-16
Form: 8-K
Item: Item 1
Chunk 97
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 Dilutive common share equivalents 
     –  
     – 
  
    Weighted average dilutive shares outstanding 
     1,101,000  
     1,101,000 

    Basic (loss) / earnings per share: 

    Basic loss per share from continuing operations 
    $(0.82) 
    $(0.33)
  
    Basic earnings per share from discontinued operations 
     0.18  
     0.01 
  
    Basic loss per share 
    $(0.64) 
    $(0.32)

    Diluted (loss) / earnings per share: 

    Diluted loss per share from continuing operations 
    $(0.82) 
    $(0.33)
  
    Diluted earnings per share from discontinued operations 
     0.18  
     0.01 
  
    Diluted loss per share 
    $(0.64) 
    $(0.32)

     F-41 

FORWARD INDUSTRIES, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

The following securities
were excluded from the calculation of diluted earnings per share in each period because their inclusion would have been anti-dilutive:

    Schedule of anti-dilutive shares 

    For the Three Months Ended December 31, 

    2024  
    2023 
  
    Options 
     129,000  
     125,500 
  
    Warrants 
     7,500  
     7,500 
  
    Total potentially dilutive shares 
     136,500  
     133,000 

NOTE 8        RELATED PARTY TRANSACTIONS

Buying Agency and Supply Agreement

The Company has a Buying
Agency and Supply Agreement (the “Supply Agreement”) with Forward China. The Supply Agreement provides that, upon the terms
and subject to the conditions set forth therein, Forward China will act as the Company’s exclusive buying agent and supplier of
Products (as defined in the Supply Agreement) in the Asia-Pacific region. The Company purchases products at Forward China’s
cost and, through March 2023, paid Forward China a monthly service fee equal to the sum of (i) $100,000, and (ii) 4% of “Adjusted
Gross Profit”, which is defined as the selling price less the cost from Forward China. Effective