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

Company: Forian Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 25
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 which were not included in the calculation of diluted earnings per share because their impact would have been antidilutive to the Company’s “control number,” which is income (loss) from operations.  

      For the Three Months Ended September 30,     
      For the Nine Months Ended September 30,     

      2025

      2024

      2025

      2024

      Potentially dilutive securities:

      Warrants

       —  
      6,875 
       —  
      6,875 

      Stock options

      2,330,040 
      4,000,043 
      2,330,040 
      4,000,043 

      Convertible notes

       —  
      2,401,953 
       —  
      2,401,953 

      Unvested restricted stock awards and units

      1,626,248 
      848,498 
      1,626,248 
      848,498 

      Total

      3,956,288 
      7,257,369 
      3,956,288 
      7,257,369 

     Note 14

     RELATED PARTY TRANSACTIONS

   Adam Dublin, the Company’s Chief Strategy Officer, was previously a consultant for a current vendor of the Company. Mr. Dublin’s consultancy with the vendor ended on December 11, 2020, and the parties agreed not to renew the consulting agreement. Pursuant to Mr. Dublin’s consulting agreement with the vendor, Mr. Dublin received payments from the vendor for the three and nine months ended September 30, 2025 and 2024 of $0 and $24,375 and $0 and $60,025, respectively, as he is entitled to runoff commissions on accounts he sold.  
   On September 1, 2021, the Company issued, at 100% of par value, $24,000,000 in aggregate principal balance of 3.5% Convertible Promissory Notes due 2025 convertible into (i) shares of Company common stock and (ii) warrants to purchase shares of Company common stock equal to 20% of the principal amount of the Notes divided by the conversion price to a select group of institutional and accredited investors, which