Company: FWDI
Filing Date: 2025-09-16
Form Type: 8-K
Source: 0001683168-25-007036
Chunk: 32

Company: Forward Industries, Inc.
Filing Date: 2025-09-16
Form: 8-K
Item: Item 8
Chunk 32
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 1,101,069  
     1,101,069 

    Basic loss per share: 

    Basic loss per share from continuing operations 
    $(1.97) 
    $(0.06)
  
    Basic income/(loss) per share from discontinued operations 
     0.20  
     (3.33)
  
    Basic loss per share 
    $(1.77) 
    $(3.39)

    Diluted loss per share: 

    Diluted loss per share from continuing operations 
    $(1.97) 
    $(0.06)
  
    Diluted income/(loss) per share from discontinued operations 
     0.20  
     (3.33)
  
    Diluted loss per share 
    $(1.77) 
    $(3.39)

     F-21 

The following securities were
excluded from the calculation of diluted earnings per share in Fiscal 2024 and Fiscal 2023 because their inclusion would have been anti-dilutive:

     Schedule of anti-dilutive 

    For the Fiscal Years Ended 

    September 30, 

    2024  
    2023 
  
    Options 
     81,400  
     92,300 
  
    Warrants 
     7,500  
     7,500 
  
    Total potentially dilutive shares 
     88,900  
     99,800 

NOTE 12        COMMITMENTS AND CONTINGENCIES

Guarantee Obligation

In February 2010, Forward Switzerland
and its European logistics provider (freight forwarding and customs agent) entered into an agreement (the “Representation Agreement”)
whereby, among other things, the European logistics provider agreed to act as Forward Switzerland’s fiscal representative in The
Netherlands for the purpose of providing services in connection with any value added tax matters. As part of this agreement, Forward Switzerland
agreed to provide an undertaking (in the form of a bank letter of guarantee) to the logistics provider with respect to any value added
tax liability arising in The Netherlands that the logistics provider is required to pay to Dutch tax authorities on its behalf.

In February 2010, Forward Switzerland
entered into a guarantee agreement with a Swiss bank relating to the repayment of any amount up to €75,000 (equal to approximately
$84,000 at September 30, 2024) paid by such