Company: FWDI
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001683168-25-003548
Chunk: 24

Company: Forward Industries, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 24
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    $(1.32) 
    $(0.50) 
    $(1.96) 
    $(0.82)

    Diluted (loss) / earnings per share: 

    Diluted loss per share from continuing operations 
    $(1.65) 
    $(0.57) 
    $(2.47) 
    $(0.90)
  
    Diluted earnings per share from discontinued operations 
     0.33  
     0.07  
     0.51  
     0.08 
  
    Diluted loss per share 
    $(1.32) 
    $(0.50) 
    $(1.96) 
    $(0.82)

     15 

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
 March 31,  
    For the Six Months Ended 
March 31, 

    2025  
    2024  
    2025  
    2024 
  
    Options 
     132,000  
     97,000  
     132,000  
     97,000 
  
    Warrants 
     7,500  
     7,500  
     7,500  
     7,500 
  
    Total potentially dilutive shares 
     139,500  
     104,500  
     139,500  
     104,500 

  NOTE 8
  RELATED PARTY TRANSACTIONS

Buying Agency and Supply
Agreement

The Company had a Buying
Agency and Supply Agreement (the “Supply Agreement”) with Forward China. The Supply Agreement provided that, upon the terms
and subject to the conditions set forth therein, Forward China would 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 purchased 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 April 1, 2023, the Company and
Forward China