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.
Nasdaq Compliance Notice
As previously disclosed on its Current Report on Forms 8-K filed with the Securities and Exchange Commission (“SEC”) on August 4, 2023, and February 5, 2024, Forward Industries, Inc. (the “Company”) received notice from the Nasdaq Stock Market LLC (“Nasdaq”) that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Rule”), which requires a listed company to maintain a minimum bid price of at least $1.00.
Additionally, as previously disclosed on its Current Report on Form 8-K filed with the SEC on February 27, 2024, the Company received notice from Nasdaq that the Company’s stockholders’ equity as reported in the Company’ Form 10-Q for the period ended December 31, 2023, did not comply with Nasdaq Listing Rule 5550(b)(1) (the “Stockholders’ Equity Rule”), which requires a listed company to maintain a stockholders’ equity of at least $2,500,000.
On July 24, 2024, the Company received a written notice from Nasdaq (the “Compliance Notice”), confirming that the Company has regained compliance with the Minimum Bid Price Rule and the Stockholders’ Equity Rule. The Compliance Notice informed the Company that pursuant to Nasdaq Listing Rule 5815(d)(4)(B), the Company is subject to a mandatory panel monitor until July 24, 2025.
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: August 1, 2024 | By: | /s/ Kathleen Weisberg | |
| Name: Kathleen Weisberg | |||
| Title: Chief Financial Officer | |||
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