Company: FWDI
Filing Date: 2025-09-16
Form Type: 8-K
Source: 0001683168-25-007036
Chunk: 40

Company: Forward Industries, Inc.
Filing Date: 2025-09-16
Form: 8-K
Item: Item 8
Chunk 40
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2,308,425

    Contract assets 
     884,703  
     1,272,993 
  
    Prepaid expenses and other current assets 
     348,411  
     382,832 
  
    Assets held for sale 
     2,558,693  
     2,908,039 
  
    Total current assets 
     8,629,984  
     9,649,414 

    Property and equipment, net 
     192,884  
     218,025 
  
    Intangible assets, net 
     627,197  
     680,386 
  
    Goodwill 
     1,333,682  
     1,558,682 
  
    Operating lease right-of-use assets, net 
     2,639,821  
     2,593,112 
  
    Other assets 
     68,737  
     68,737 
  
    Total assets 
    $13,492,305  
    $14,768,356 

    Liabilities and shareholders' equity 

    Current liabilities: 

    Note payable to Forward China (related party) 
    $600,000  
    $600,000 
  
    Accounts payable 
     150,098  
     103,581 
  
    Deferred income 
     278,607  
     399,439 
  
    Current portion of operating lease liability 
     454,509  
     404,056 
  
    Accrued expenses and other current liabilities 
     441,046  
     571,662 
  
    Liabilities held for sale 
     6,862,552  
     7,292,858 
  
    Total current liabilities 
     8,786,812  
     9,371,596 

    Other liabilities: 

    Operating lease liability, less current portion 
     2,426,196  
     2,429,726 
  
    Total liabilities 
     11,213,008  
     11,801,322 

    Commitments and contingencies 
     –  
     – 

    Shareholders' equity: 

  Series A-1 Convertible Preferred Stock, par value $0.01 per share; stated value of $1,000 per share;
  2,700