UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM
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CURRENT REPORT
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Item 8.01 Other Events.
On June 28, 2024, Forward Industries, Inc. (the “Company”) and Forward Industries (Asia-Pacific) Corporation (“FC”), a company owned by the Company’s Chief Executive Officer and Chairman of the Board, entered into an Accounts Payables Conversion Agreement (the “Agreement”). In accordance with the Agreement, the Company agreed to issue FC a newly created preferred stock with a stated value of $1.7 million in consideration for the forgiveness of $1.7 million due to FC by the Company. The Agreement will be effective upon the Secretary of State of New York accepting the Certificate of Amendment of the Certificate of Incorporation designating the newly authorized shares of preferred stock. Upon acceptance, the Company will file a Current Report on Form 8-K detailing the preferred stock rights, obligations and preferences.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FORWARD INDUSTRIES, INC. | |||
| Date: July 3, 2024 | By: | /s/ Kathleen Weisberg | |
| Name: Kathleen Weisberg | |||
| Title: Chief Financial Officer | |||
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