{"schema_version":"secwatch.filing_event.v1","accession":"0001683168-23-007729","form_type":"8-K","ticker":"FWDI","cik":"0000038264","company_name":"Forward Industries, Inc.","filed_at":"2023-11-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:31.678662+00:00","generated_at":"2026-06-08T11:52:50.405829+00:00","sec_items":["1.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Forward Industries enters related-party buying agency deal, reduces monthly fee, defers $7.4M payables","bullets":["New Buying Agency and Supply Agreement with FC (owned by CEO) reduces monthly service fee from $100k to $65,833 plus 4% of Adjusted Gross Profit.","Deferred Payment Agreement limits FC collection of $7,365,238 payables to $500k per 12-month period to preserve liquidity.","Extended Consultancy Agreement with Justwise Group (owned by CEO) for $10k/month effective September 1, 2023, month-to-month.","Agreements are with entities controlled by CEO Terence Wise; director Jenny P. Yu owns >5% of FORD common stock."],"urls":{"canonical":"https://secwatch.observer/filing/0001683168-23-007729","json":"https://secwatch.observer/filing/0001683168-23-007729.json","markdown":"https://secwatch.observer/filing/0001683168-23-007729.md","text":"https://secwatch.observer/filing/0001683168-23-007729.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/38264/000168316823007729/0001683168-23-007729-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/38264/000168316823007729/forward_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T11:52:50.405829+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"7d0c6356be62bc4eae6b8263a2034745d13869b7","claim":"Forward Industries, Inc. entered into Deferred Payment Agreement with Forward Industries (Asia-Pacific) Corporation valued at Company owed FC $7,365,238; FC limited collection to $500,000 in any 12-month period (effective 2023-11-02).","evidence_excerpt":"the “Company”) and Forward Industries (Asia-Pacific) Corporation (“FC”) entered into a Buying Agency and Supply Agreement (the “New Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/38264/000168316823007729/0001683168-23-007729-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Forward Industries (Asia-Pacific) Corporation"},{"label":"Value","value":"Company owed FC $7,365,238; FC limited collection to $500,000 in any 12-month period"},{"label":"Effective","value":"2023-11-02"}],"fact_type":"material_agreement"},{"claim_id":"bb7f05b6f324e54ce84e082201a0de2e2dad998b","claim":"Forward Industries, Inc. entered into Buying Agency and Supply Agreement with Forward Industries (Asia-Pacific) Corporation valued at monthly service fee $65,833 plus 4% of Adjusted Gross Profit (effective 2023-11-02).","evidence_excerpt":"On November 2, 2023, Forward Industries, Inc. (the “Company”) and Forward Industries (Asia-Pacific) Corporation (“FC”) entered into a Buying Agency and Supply Agreement (the “New Agreement”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/38264/000168316823007729/0001683168-23-007729-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"supply"},{"label":"Counterparty","value":"Forward Industries (Asia-Pacific) Corporation"},{"label":"Value","value":"monthly service fee $65,833 plus 4% of Adjusted Gross Profit"},{"label":"Effective","value":"2023-11-02"}],"fact_type":"material_agreement"},{"claim_id":"fae2e7fa4217a2322176c347938d9aaa2bc8c370","claim":"Forward Industries, Inc. entered into Consultancy Agreement Extension with Justwise Group Ltd. valued at $10,000 per month (effective 2023-11-03).","evidence_excerpt":"on November 3, 2023, the Company and Justwise Group Ltd. (“Justwise”), a company owned by Mr. Wise, entered into an agreement to extend its previously executed Consultancy Agreement.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/38264/000168316823007729/0001683168-23-007729-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Counterparty","value":"Justwise Group Ltd."},{"label":"Value","value":"$10,000 per month"},{"label":"Effective","value":"2023-11-03"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}