Company: FWDI
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001683168-25-003548
Chunk: 56

Company: Forward Industries, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 2
Chunk 56
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 the Securities Exchange Act of 1934 (the “Exchange Act”)
of the effectiveness of our disclosure controls and procedures as defined in Rule 13a-15(e) and Rule 15d-15(e) under the Exchange Act.
Based on their evaluation, our management has concluded that our disclosure controls and procedures are effective as of the end of the
period covered by this report to ensure that information required to be disclosed by us in the reports that we file or submit under the
Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms and
is accumulated and communicated to our management, including our Principal Executive Officer and Principal Financial Officer, as appropriate
to allow timely decisions regarding required disclosure.

Changes in Internal Control
Over Financial Reporting. There were no changes in our internal control over financial reporting as defined in Rule 13a-15(f) and
Rule 15d-15(f) under the Exchange Act that occurred during the period covered by this report that have materially affected, or are reasonably
likely to materially affect, our internal control over financial reporting.

Limitations of the Effectiveness
of Controls and Procedures. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute,
assurance that the objectives of the control system are met. Because of the inherent limitations of any control system, no evaluation
of controls can provide absolute assurance that all control issues, if any, within a company have been detected.

 24 

PART II.	OTHER INFORMATION

ITEM 1.LEGAL PROCEEDINGS

From time to time, the Company
is or may become a party to legal actions or proceedings in the ordinary course of its business. At March 31, 2025, there were no such
actions or proceedings, either individually or in the aggregate, that, if decided adversely to the Company’s interests, the Company
believes would be material to its business.

ITEM 1A.RISK FACTORS

While
we attempt to identify, manage, and mitigate risks and uncertainties associated with our business to the extent practical under the circumstances,
some level of risk and uncertainty will always be present. Item 1A - “Risk Factors” in the Form 10-K for the fiscal year ended
September 30, 2024 describes some of the risks and uncertainties associated with our business, which we strongly encourage you to review.
These risks and uncertainties have the potential to materially affect our business, financial condition, results