Company: FWDI
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001683168-25-006141
Chunk: 37

Company: Forward Industries, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 1
Chunk 37
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 and the audited consolidated financial statements
and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended September 30, 2024.  The following discussion
and analysis compares our condensed consolidated results of operations for the three and nine months ended June 30, 2025 (the “2025
Quarter” and the “2025 Period”, respectively) with those for the three and nine months ended June 30, 2024 (the “2024
Quarter” and “2024 Period”, respectively).  All dollar amounts and percentages presented herein have been rounded
to approximate values.

Cautionary Note Regarding Forward-Looking
Statements

This report contains
“forward-looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). 
These statements include, among other things, statements regarding our liquidity, plans on repaying outstanding debt obligations,
plans on utilizing the equity line of credit, plans for other financing as well as other statements regarding our future operations,
financial condition and prospects, and business strategies. Forward-looking statements generally can be identified by words such as
“anticipates,” “believes,” “estimates,” “expects,” “intends,”
“plans,” “predicts,” “projects,” “will be,” “will continue,” “will
likely result,” and similar expressions. These forward-looking statements are based on current expectations and assumptions
that are subject to risks and uncertainties, which could cause our actual results to differ materially from those reflected in the
forward-looking statements. These risks include the inability to expand our customer base, loss of additional customers, pricing
pressures, lack of success of our marketing efforts, economic or other factors resulting in the failure to enter into purchase
agreements for the sale of equity, failure to raise capital when needed, the inability to maintain compliance with Nasdaq listing
standards, and the inability of our customers to pay for our services. No assurance can be given that the actual results will be
consistent with the forward-looking statements. Investors should read carefully the factors described in the “Risk
Factors” section of the Company’s filings with the SEC, including the Company’s Form 10-K for the year ended
September 30, 2024 for information regarding risk factors that could affect the Company’s results. We undertake no obligation
to revise or publicly release the results of any revision to these forward-looking statements, except as required by applicable law
or regulation. Given