---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-24-004696"
form_type: "8-K"
ticker: "FWDI"
cik: "0000038264"
company_name: "Forward Industries, Inc."
filed_at: "2024-07-08T23:59:59+00:00"
generated_at: "2026-05-31T23:12:36.210024+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Forward Industries converts $1.7M payables to Series A-1 Preferred, aims to regain Nasdaq compliance

## Summary
- Converted $1,700,000 of payables owed to related party (CEO-owned) into 1,700 shares of Series A-1 Convertible Preferred Stock at $1,000 stated value.
- Preferred stock is non-voting, senior to common, convertible into common at $7.50 per share (subject to 19.9% conversion blocker).
- Transaction approved by a special committee; CEO Terence Wise owns the provider Forward Industries (Asia-Pacific) Corporation.
- Company believes it now complies with Nasdaq's $2.5M stockholders' equity requirement, previously at risk of delisting.
- Also notes reverse stock split effective June 18, 2024 to address bid price requirement; company believes compliance achieved.

## SEC filing metadata
- accession: 0001683168-24-004696
- form_type: 8-K
- ticker: FWDI
- cik: 0000038264
- company_name: Forward Industries, Inc.
- filed_at: 2024-07-08T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/38264/000168316824004696/0001683168-24-004696-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/38264/000168316824004696/forward_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-24-004696
- JSON: https://secwatch.observer/filing/0001683168-24-004696.json
- Plain text: https://secwatch.observer/filing/0001683168-24-004696.txt

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