Company: FORA
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001140361-25-042313
Chunk: 28

Company: Forian Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 28
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 $12,143  
    $14,301 
     $36,248 
     $40,261 

   Future lease payments included in the measurement of lease liabilities on the condensed consolidated balance sheet as of September 30, 2025, were as follows:  

      September 30, 2025

      2025 (remaining)

      6,153 

      2026

      12,306 

      Total future minimum lease payments

      18,459 

      Less imputed interest

      (362) 

      Total

     $18,097 

     Note 16

     COMMITMENTS AND CONTINGENCIES

   Service and License Agreements
   
   The Company entered into certain service and license agreements that provide for future minimum payments. The terms of these agreements vary in length. The following table shows the remaining payment obligations under these agreements as of September 30, 2025:  

      September 30, 2025

      Year ending December 31, 2025
     
      1,321,875 

      Year ending December 31, 2026
     
      6,085,625 

      Year ending December 31, 2027
     
      3,661,375 

      Thereafter
     
      1,460,875 

     $12,529,750 

  25
  

 Commitments and contingencies includes $923,356 recorded in accrued expenses and other liabilities, representing information license liabilities under various licensing agreements (see “Note 3 – Summary of Significant Accounting Policies – Vendors and Licensors”).  
  
   Legal Proceedings

   From time to time the Company may be involved in claims that arise during the ordinary course of business. For any matters where management currently believes it is probable that the Company will incur a loss and that the probable loss or range of loss can be reasonably estimated, the Company records reserves in the condensed consolidated financial statements based on its best estimates of such loss. In other instances, because of the uncertainties related to either the probable outcome or the amount or range of loss, management is unable to make a reasonable estimate of a liability, if any. Regardless of the outcome, litigation can be costly and time consuming and it can divert management’s attention from important business matters and initiatives, negatively impacting the Company’s overall operations. Although the results of litigation and claims cannot