---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-24-006943"
form_type: "8-K"
ticker: "FWDI"
cik: "0000038264"
company_name: "Forward Industries, Inc."
filed_at: "2024-10-04T23:59:59+00:00"
generated_at: "2026-05-30T20:50:35.947350+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Forward converts $500K payables owed to CEO's firm into Series A-1 preferred stock

## Summary
- Converted $500,000 of accounts payable into 500 shares of Series A-1 Convertible Preferred at $1,000/share.
- Conversion executed with Forward Industries (Asia-Pacific) Corp., wholly owned by CEO/Chairman Terence Wise.
- Authorized Series A-1 shares increased from 1,700 to 2,700 via Certificate of Amendment filed Sept 30, 2024.
- Shares issued in unregistered transaction exempt under Section 4(a)(2) and Rule 506(b).

## SEC filing metadata
- accession: 0001683168-24-006943
- form_type: 8-K
- ticker: FWDI
- cik: 0000038264
- company_name: Forward Industries, Inc.
- filed_at: 2024-10-04T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 3.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/38264/000168316824006943/0001683168-24-006943-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/38264/000168316824006943/forward_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-24-006943
- JSON: https://secwatch.observer/filing/0001683168-24-006943.json
- Plain text: https://secwatch.observer/filing/0001683168-24-006943.txt

## Key facts
- Governance Changes
  Forward Industries, Inc.: Increased authorized shares of Series A-1 Convertible Preferred Stock from 1,700 to 2,700 shares (effective 2024-09-30).
  - Change: charter amendment
  - Effective: 2024-09-30
  source text: Effective September 30, 2024, the Company filed a Certificate of Amendment of the Certificate of Incorporation (the “Amendment”) increasing the number of authorized shares of Series A-1 from 1,700 shares to 2,700 shares.
  evidence_url: https://www.sec.gov/Archives/edgar/data/38264/000168316824006943/0001683168-24-006943-index.htm

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