---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-25-001830"
form_type: "8-K"
ticker: "FWDI"
cik: "0000038264"
company_name: "Forward Industries, Inc."
filed_at: "2025-03-24T23:59:59+00:00"
generated_at: "2026-05-24T07:08:05.018877+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# CEO entity converts $2.5M payables to preferred to aid Nasdaq compliance; OEM business at risk

## Summary
- FC, owned by CEO Terence Wise, converted $2.5M accounts payable into 2,500 shares of Series A-1 Convertible Preferred Stock at $1,000/share.
- Conversion intended to strengthen shareholders' equity to help meet Nasdaq continued listing requirements; no assurance of adequacy.
- FC will not renew the Buying Agency and Supply Agreement; company may discontinue OEM distribution business if no extension.
- Company and FC agreed to preliminary terms for FC to purchase OEM business assets or securities; no definitive agreement yet.
- Issuance exempt from registration under Section 4(a)(2) and Rule 506(b); FC is an accredited investor.

## SEC filing metadata
- accession: 0001683168-25-001830
- form_type: 8-K
- ticker: FWDI
- cik: 0000038264
- company_name: Forward Industries, Inc.
- filed_at: 2025-03-24T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/38264/000168316825001830/0001683168-25-001830-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/38264/000168316825001830/forward_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-25-001830
- JSON: https://secwatch.observer/filing/0001683168-25-001830.json
- Plain text: https://secwatch.observer/filing/0001683168-25-001830.txt

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