---
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"
generated_at: "2026-06-08T11:52:50.405829+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Forward Industries enters related-party buying agency deal, reduces monthly fee, defers $7.4M payables

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-23-007729
- JSON: https://secwatch.observer/filing/0001683168-23-007729.json
- Plain text: https://secwatch.observer/filing/0001683168-23-007729.txt

## Key facts
- Material Agreements
  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).
  - Action: entry
  - Counterparty: Forward Industries (Asia-Pacific) Corporation
  - Value: Company owed FC $7,365,238; FC limited collection to $500,000 in any 12-month period
  - Effective: 2023-11-02
  source text: the “Company”) and Forward Industries (Asia-Pacific) Corporation (“FC”) entered into a Buying Agency and Supply Agreement (the “New Agreement”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/38264/000168316823007729/0001683168-23-007729-index.htm
- Material Agreements
  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).
  - Action: entry
  - Agreement: supply
  - Counterparty: Forward Industries (Asia-Pacific) Corporation
  - Value: monthly service fee $65,833 plus 4% of Adjusted Gross Profit
  - Effective: 2023-11-02
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/38264/000168316823007729/0001683168-23-007729-index.htm
- Material Agreements
  Forward Industries, Inc. entered into Consultancy Agreement Extension with Justwise Group Ltd. valued at $10,000 per month (effective 2023-11-03).
  - Action: entry
  - Counterparty: Justwise Group Ltd.
  - Value: $10,000 per month
  - Effective: 2023-11-03
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/38264/000168316823007729/0001683168-23-007729-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.