Source-grounded facts extracted from Forward Industries, Inc.'s SEC 8-K filings across all families, newest first. Each cites a verbatim SEC excerpt.
Forward Industries, Inc. incurred loan of $40,000,000 with Galaxy Digital LLC at weighted average interest rate of 3.4% maturing weighted average maturity of 4.9 months.
“The Company entered into multiple term sheets on March 13, 2026, which became effective March 16, 2026 pursuant to the Loan Agreement setting forth the terms of the individual loans for a total of $40,000,000 which have a weighted average maturity of 4.9 months and a weighted average interest rate of 3.4%.”
Forward Industries, Inc. entered into Securities Repurchase Agreement with an institutional investor valued at approximately $27.4 million (effective 2026-03-18).
“On March 18, 2026, Forward Industries, Inc. (the “Company”) entered into a Securities Repurchase Agreement (the “Repurchase Agreement”) with an institutional investor (the “Seller”), pursuant to which the Company repurchased 6,164,324 shares of its common stock (the “Shares”).”
Forward Industries, Inc.: Reincorporation from New York to Texas, adopting Texas Charter and Texas Bylaws effective March 5, 2026 (effective 2026-03-05).
“At the Effective Time: · the Company’s state of incorporation changed from the State of New York to the State of Texas; and · the internal affairs of the Company ceased to be governed by the laws of the State of New York and the Company’s existing restated certificate of incorporation and amended and restated bylaws, and instead became governed by the laws of the State of Texas and the certificate of formation filed with the Secretary of State of the State of Texas (the “Texas Charter”) and the bylaws approved by the Company’s board of directors (the “Texas Bylaws”).”
Forward Industries, Inc.: Increased authorized shares of common stock from 40,000,000 to 300,000,000 (effective 2025-09-04).
“On September 4, 2025, at a special meeting of shareholders (the “Special Meeting”), the shareholders of Forward Industries, Inc. (the “Company”) approved an amendment to the Company’s certificate of incorporation (the “Amendment”) to authorize an increase in the number of authorized shares of the Company’s common stock from 40,000,000 shares to 300,000,000 shares.”
Forward Industries, Inc.: Amended quorum requirement for shareholders meetings from majority to 33.3% of outstanding shares entitled to vote (effective 2025-06-16).
“On June 16, 2025, the Board of Directors of Forward Industries, Inc. (the “Company”) approved an amendment to the Company’s Third Amended and Restated Bylaws (the “Bylaws”) and adopted an amendment to the quorum requirement contained in Article II, Section 205 of the Bylaws (the “Amendment”) to provide that the holders of thirty-three and one third percent (33.3%) of the outstanding shares of stock of the Company entitled to vote at a shareholders meeting, present in person or represented by proxy, shall constitute a quorum for the transaction of business .”
Forward Industries, Inc.: Designated 1,000,000 shares of Series B Preferred Stock via Certificate of Amendment (effective 2025-05-21).
“On May 21, 2025, the Company filed a Certificate of Amendment to the Certificate of Incorporation (“Certificate of Designation”) designating 1,000,000 shares of Series B.”
Sangita Shah was appointed as Chairperson of the Board at Forward Industries, Inc..
“Additionally, on May 16, 2025, Sangita Shah was appointed as Chairperson of the Board, effective immediately.”
Keith Johnson was appointed as director at Forward Industries, Inc..
“Effective May 16, 2025, the Board appointed Keith Johnson as a director of the Company.”
Michael Pruitt resigned as director at Forward Industries, Inc..
“In connection with his appointment as interim Chief Executive Officer, Mr. Pruitt resigned from the Company’s Board.”
Michael Pruitt was appointed as interim Chief Executive Officer at Forward Industries, Inc..
“On May 16, 2025, the Company appointed Michael Pruitt as interim Chief Executive Officer, effective immediately.”
Terence Wise resigned as Chief Executive Officer at Forward Industries, Inc..
“Pursuant to the Separation Agreement, Mr. Wise resigned from all of his positions with the Company, including his positions as Chief Executive Officer, Chairman of the Board, and director.”
Paul Severino resigned as President of the Company’s wholly-owned subsidiary, Intelligent Product Solutions, Inc. at Forward Industries, Inc..
“On May 7, 2025, Mr. Paul Severino notified the Company of his resignation from his position as the President of the Company’s wholly-owned subsidiary, Intelligent Product Solutions, Inc., effective May 30, 2025.”
Terence Wise resigned as Chief Executive Officer at Forward Industries, Inc..
“Mr. Terence Wise notified the Company of his intention to resign from his position as the Company’s Chief Executive Officer and as a member of the Company’s Board of Directors.”
Forward Industries, Inc. received a nasdaq compliance regained notice regarding stockholders equity (rules 5550(b)(1)).
“April 1, 2025, Forward Industries, Inc. (the “Company”) received formal notification from The Nasdaq Stock Market LLC (“Nasdaq”) that the Company has evidenced compliance with the minimum $2.5 million stockholders’ equity requirement for continued listing on The Nasdaq Capital Market, in accordance with Nasdaq Listing Rule 5550(b)(1) (the “Equity Rule”), and otherwise satisfies all other requirements for continued listing on Nasdaq. Accordingly, the previously disclosed listing matter has been resolved and the hearing before the Nasdaq Hearings Panel canceled. As previously disclosed in that C”
Forward Industries, Inc. engaged CBIZ CPAs P.C. as its auditor.
“On March 28, 2025, following approval by the Company’s Board of Directors and Audit Committee, the Company appointed CBIZ CPAs P.C. (“CBIZ”) as the new independent registered public accounting firm of the Company.”
Forward Industries, Inc. dismissed CohnReznick LLP as its auditor.
“On March 28, 2025, the Board of Directors and Audit Committee of Forward Industries, Inc. (the “Company”), approved the dismissal of CohnReznick LLP (“CohnReznick”), as the independent registered public accounting firm of the Company, effective immediately.”
Forward Industries, Inc.: Amendment to Certificate of Incorporation to increase authorized shares of Series A-1 Preferred Stock from 2,700 to 6,700 shares (effective 2025-03-13).
“On March 11, 2025, the Board of Directors of Forward Industries, Inc. (the “Company”) approved the filing of a Certificate of Amendment to the Company's Certificate of Incorporation (the “Amendment”) to increase the number of authorized shares of Series A-1 Preferred Stock from 2,700 shares to 6,700 shares.”
Forward Industries, Inc. received a nasdaq delisting notice notice regarding stockholders equity (rules 5550(b)(1)).
“February 21, 2025, Forward Industries, Inc. (the “Company”) received a letter from The Nasdaq Stock Market LLC (“Nasdaq”) stating that Nasdaq has determined to delist the Company’s securities from The Nasdaq Capital Market. The determination was based on the Company’s failure to comply with Nasdaq Listing Rule 5550(b)(1), which requires a minimum of $2.5 million stockholders’ equity for continued listing. The Company recently filed its Form 10-Q for the quarter ended December 31, 2024 disclosing a stockholders’ equity of $2,279,297. Nasdaq has indicated that trading in the Company’s securities”
Michael Pruitt was appointed as director at Forward Industries, Inc..
“On January 28, 2025, the Board of Directors of Forward Industries, Inc. (the “Company”) appointed Michael Pruitt as a director of the Company, as well as a member of the Audit and Risk Committee and Nominating Committee, effective February 1, 2025.”
Forward Industries, Inc.: Increased authorized shares of Series A-1 Convertible Preferred Stock from 1,700 to 2,700 shares (effective 2024-09-30).
“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.”
Forward Industries, Inc. reported second quarter ended March 31, 2024 results: revenue $7.8 million, net income $0.6 million, EPS $0.05.
“Forward Industries, Inc. (NASDAQ:FORD), a global design, sourcing and distribution group, today announced financial results for its second quarter ended March 31, 2024. Second Quarter Fiscal Year 2024 Financial Highlights · Revenues were $7.8 million, a decrease of 19.6% from $9.7 million for 2023. · Gross margin increased to 20.5% compared to 19.8% for 2023. · Loss from continuing operations was $0.5 million compared to $0.1 million in 2023 and net loss was $0.6 million compared to $0.9 million in 2023. · Basic and diluted loss per share from continuing operations was $0.05 compared to $0.01 for 2023.”
Forward Industries, Inc. received a nasdaq noncompliance notice notice regarding stockholders equity (rules 5550(b)(1)).
“February 22, 2024, Forward Industries, Inc. (the “Company”) received notice (the “Equity Deficiency Notice”) from the Nasdaq Stock Market LLC (“Nasdaq”) that the Company’s stockholders equity as reported in the Company’s Form 10-Q for the period ended December 31, 2023 (the “Form 10-Q”), did not satisfy the continued listing requirement under Nasdaq Listing Rule 5550(b)(1), which requires that a listed company’s stockholders’ equity be at least $2,500,000 (“Nasdaq Stockholders’ Equity Rule”). As reported in the Company’s Form 10-Q, the stockholders’ equity of the Company was $2,312,852 as of D”
Forward Industries, Inc. reported first quarter ended December 31, 2023 results: revenue $7.2 million, net income net loss was $0.4 million, EPS $0.04.
“and distribution group, today announced financial results for its first quarter ended December 31, 2023. First Quarter Fiscal Year 2024 Financial Highlights · Revenues were $7.2 million, a decrease of 26.7% from $9.8 million for 2023. · Gross margin increased to 23.0% compared to 20.2% for 2023. · Loss from continuing operations was $0.4 million compared to $0.1”
Forward Industries, Inc. shareholders approved To approve an amendment to the Company’s Restated Certificate of Incorporation to authorize a reverse split of all outstanding shares of the Company’s common stock at a ratio to be determined by the Board in the range of 1-for-2 through 1-for-3 at the 2024-02-06 meeting.
“(3) To approve an amendment to the Company’s Restated Certificate of Incorporation to authorize a reverse split of all outstanding shares of the Company’s common stock at a ratio to be determined by the Board in the range of 1-for-2 through 1-for-3 6,366,704 240,461 * 4,053 *”
Forward Industries, Inc. shareholders approved To ratify the appointment of the Company’s independent registered public accounting firm for fiscal year 2024 at the 2024-02-06 meeting.
“(2) To ratify the appointment of the Company’s independent registered public accounting firm for fiscal year 2024 6,527,096 9,250 * 74,872 *”
Forward Industries, Inc. shareholders approved Election of directors at the 2024-02-06 meeting.
“Proposal For Against Withheld Abstain Broker Non-Votes (1) To elect the following directors: Terence Wise 4,998,592 * 24,601 * 1,588,025 Sangita Shah 4,581,623 * 441,570 * 1,588,025 Sharon Hrynkow 4,996,182 * 27,011 * 1,588,025”
Forward Industries, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).
“January 30, 2024, the Company received notification that it had failed to regain compliance with the Rule and is not eligible for a second 180-day period because of its failure to comply with the minimum stockholders’ equity initial listing requirement. Unless the Company timely requests a hearing before an independent Nasdaq Hearings Panel (the “Panel”), the Company’s securities would be subject to delisting. Accordingly, the Company will request a hearing before the Panel. The hearing request will automatically stay any suspension or delisting action pending the hearing and the expiration of”
Forward Industries, Inc. reported fiscal year ended September 30, 2023 results: revenue $36.7 million, net income net loss was $3.7 million, EPS Basic and diluted earnings per share from continuing operations was $0.02.
“distribution group, today announced preliminary financial results for the fiscal year ended September 30, 2023. Preliminary Fiscal Year 2023 Financial Highlights · Revenues were $36.7 million, a decrease of 3.9% from $38.2 million for 2022 with IPS from the design division recording record revenues in 2023. · Gross margin declined to 22.8% compared to 23.0% for 2022.”
Forward Industries, Inc. announced a restructuring with charges of approximately $1.7million affecting Retail Distribution Operations.
“the Company has determined that the costs that the Company will incur as a result of the exit will be approximately $1.7million.”
Forward Industries, Inc. entered into Consultancy Agreement Extension with Justwise Group Ltd. valued at $10,000 per month (effective 2023-11-03).
“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.”
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).
“the “Company”) and Forward Industries (Asia-Pacific) Corporation (“FC”) entered into a Buying Agency and Supply Agreement (the “New Agreement”).”
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).
“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”).”
Forward Industries, Inc. reported the three and nine months ended June 30, 2023 results: revenue $10.1 million, EPS $0.05.
“sourcing and distribution group, today announced financial results for its third quarter ended June 30, 2023. Third Quarter Fiscal Year 2023 Financial Highlights · Revenues were $10.1 million, a decrease of 4.7% from $10.6 million for the third quarter of fiscal year 2022. · Gross margin declined to 18.0% compared to 18.1% for the third quarter of fiscal year 2022. ·”
Forward Industries, Inc. received a nasdaq deficiency notice notice regarding minimum bid price (rules 5550(a)(2)).
“July 31, 2023, Forward Industries, Inc. (the “Company”) received a letter from the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company of its noncompliance with Nasdaq Listing Rule 5550(a)(2) (the “Rule”) by failing to maintain a minimum bid price for its common stock of at least $1.00 per share for 30 consecutive business days. According to the letter, the Company has a 180-calendar day grace period to regain compliance with the Rule (the “Grace Period”), subject to a potential 180 calendar day extension, as described below. To regain compliance, the Company’s common stock must have a mi”
Anthony Camarda departed as Chief Financial Officer, Treasurer and Secretary at Forward Industries, Inc..
“the Board of Directors (the “Board”) of Forward Industries, Inc. (the “Company”) appointed Kathleen Weisberg as the Company’s Chief Financial Officer, Treasurer and Secretary, replacing Anthony Camarda in each such role, effective July 1, 2023.”
Kathleen Weisberg was appointed as Chief Financial Officer, Treasurer and Secretary at Forward Industries, Inc..
“the Board of Directors (the “Board”) of Forward Industries, Inc. (the “Company”) appointed Kathleen Weisberg as the Company’s Chief Financial Officer, Treasurer and Secretary, replacing Anthony Camarda in each such role, effective July 1, 2023.”
Anthony Camarda departed as Chief Financial Officer, Treasurer and Secretary at Forward Industries, Inc..
“the Board appointed Kathleen Weisberg as the Company’s Chief Financial Officer, Treasurer and Secretary, replacing Mr. Anthony Camarda in each such role, effective July 1, 2023.”
Kathleen Weisberg was appointed as Chief Financial Officer, Treasurer and Secretary at Forward Industries, Inc..
“the Board appointed Kathleen Weisberg as the Company’s Chief Financial Officer, Treasurer and Secretary, replacing Mr. Anthony Camarda in each such role, effective July 1, 2023.”
Forward Industries, Inc. reported the second quarter ended March 31, 2023 results: revenue $10.7 million, EPS $0.09.
“and distribution group, today announced financial results for its second quarter ended March 31, 2023. Second Quarter Fiscal Year 2023 Financial Highlights · Revenues were $10.7 million, an increase of 3.9% from $10.3 million for the second quarter of fiscal year 2022. · Gross margin declined to 14.2% compared to 21.8% for the second quarter of fiscal year 2022.”
Anthony Camarda resigned as Chief Financial Officer at Forward Industries, Inc..
“On May 11, 2023, Anthony Camarda, the Chief Financial Officer of Forward Industries, Inc. (the “Company”), notified the Company’s Board of Directors that he is resigning effective June 28, 2023.”
Forward Industries, Inc. shareholders approved To approve, on an advisory basis, the compensation paid to the Company’s named executive officers at the 2023-02-14 meeting.
“(3) To approve, on an advisory basis, the compensation paid to the Company’s named executive officers. 4,649,801 116,883 * 15,838 1,891,982”
Forward Industries, Inc. shareholders approved To ratify the appointment of the Company’s independent registered public accounting firm for fiscal year 2023 at the 2023-02-14 meeting.
“(2) To ratify the appointment of the Company’s independent registered public accounting firm for fiscal year 2023. 6,612,453 26,682 * 35,369 *”
Forward Industries, Inc. shareholders approved To elect the following directors at the 2023-02-14 meeting.
“On February 14, 2023, Forward Industries, Inc. (the “Company”) held its 2023 Annual Shareholders’ Meeting and the results of each of the proposals are listed below. Proposal For Against Withheld Abstain Broker Non-Votes (1) To elect the following directors: Terence Wise 4,754,705 * 27,817 * 1,891,982 Sangita Shah 4,311,270 * 471,252 * 1,891,982 Sharon Hrynkow 4,753,494 * 29,028 * 1,891,982 James Ziglar 4,748,642 * 33,880 * 1,891,982”
Forward Industries, Inc. reported first quarter ended December 31, 2022 results: revenue $10.8 million, net income net loss of $0.4 million, EPS $(0.04).
“and distribution group, today announced financial results for its first quarter ended December 31, 2022. First Quarter Fiscal Year 2023 Financial Highlights · Revenues were $10.8 million, a decrease of 6.9% from $11.6 million for the first quarter of fiscal year 2022. · Gross margin declined to 17.7% compared to 22.5% for the first quarter of fiscal year 2022. ·”
Forward Industries, Inc. amended loan of $1.4 million with Forward Industries (Asia-Pacific) Corporation maturing December 31, 2024.
“On November 15, 2022, the Board of Directors of Forward Industries, Inc. (the “Company”) approved the extension of the maturity date of that certain $1.6 million promissory note (which, after $200,000 of principal payments, the principal balance has been reduced to $1.4 million) issued by the Company to Forward Industries (Asia-Pacific) Corporation (“Forward China”) to December 31, 2024.”
Sharon Hrynkow was elected as Director at Forward Industries, Inc..
“On February 16, 2022, the Board of Directors (“Board”) of Forward Industries, Inc. (the “Company”), in connection with her election as a director of the Company, granted 31,095 five-year stock options exercisable at $1.68 per share to Ms. Sharon Hrynkow.”
Robert Wild was appointed as Chief Operating Officer of IPS at Forward Industries, Inc..
“Mr. Robert Wild will become the Chief Operating Officer of IPS”
Paul Severino was appointed as President of IPS at Forward Industries, Inc..
“Mr. Paul Severino, the current Chief Operating Officer of IPS, will serve as the President of IPS”
Mitchell Maiman resigned as President of Intelligent Product Solutions, Inc. at Forward Industries, Inc..
“Mr. Mitchell Maiman, the President of Intelligent Product Solutions, Inc. (“IPS”), a wholly-owned subsidiary of Forward Industries, Inc. (the “Company”), informed the Company of his definitive decision to resign. The resignation is effective January 1, 2022”
Facts are extracted by an LLM and gated to those whose source quote is present verbatim in the filing text. Coverage is best-effort while backfill and monitoring mature; this is not yet a full-market index. See methodology.