Company: FWDI
Filing Date: 2025-02-13
Form Type: 10-Q
Source: 0001683168-25-000993
Chunk: 18

Company: Forward Industries, Inc.
Filing Date: 2025-02-13
Form: 10-Q
Item: Item 1
Chunk 18
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as these expenses are included in the measure of its profitability reviewed by the CODM. We do not include intercompany activity in our
segment results shown below to be consistent with the information that is presented to the CODM. Segment assets consist of accounts receivable
and inventory, which are regularly reviewed by the CODM, as well as goodwill and intangible assets resulting from design segment acquisitions.

     13 

FORWARD INDUSTRIES, INC. AND
SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Information by segment and
related reconciliations are shown in tables below:

    Schedule of segment and
related reconciliations 

    For the Three Months Ended December 31, 

    2024  
    2023 
  
    Revenues: 

    OEM distribution 
    $1,991,000  
    $2,010,000 
  
    Design 
     4,625,000  
     5,142,000 
  
    Total segment revenues 
    $6,616,000  
    $7,152,000 

    Operating income / (loss): 

    OEM distribution 
    $223,000  
    $41,000 
  
    Design 
     (260,000) 
     266,000 
  
    Total segment operating (loss)/income 
     (37,000) 
     307,000 
  
    General corporate expenses 
     (671,000) 
     (687,000)
  
    Operating loss from continuing operations before income taxes 
     (708,000) 
     (380,000)
  
    Other expense / (income), net 
     –  
     1,000 
  
    Loss from continuing operations before income taxes 
    $(708,000) 
    $(381,000)

    Depreciation and amortization: 

    OEM distribution 
    $–  
    $1,000 
  
    Design 
     84,000  
     80,000 
  
    Total depreciation and amortization 
    $84,000  
    $81,000 

    Schedule of segment assets 

    December 31, 2024  
    September 30, 2024 
  
    Segment Assets: 

    OEM distribution 
    $2,230,000  
    $2,