Forward Industries recasts FY2024 and Q1 FY2025 financials to reflect OEM as discontinued ops

Forward Industries, Inc.

Recast financials remove OEM segment results; only design segment remains as reportable segment.
Goodwill impairment charge of $200,000 recorded in Fiscal 2024 on design segment.
OEM segment sold on May 16, 2025 to Forward Industries (Asia-Pacific) Corporation.
Prior retail segment discontinued in July 2023; now fully exited.
Financial statements for fiscal 2024 and Q1 FY2025 are restated in this filing.

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