About Forward IndustriesForward Industries, Inc. designs and distributes custom carrying case solutions for hand held electronic devices. Forward’s products can be viewed online at www.fwdinnovations.com and www.forwardindustries.com.
FORWARD INDUSTRIES, INC.
CONSOLIDATED UNAUDITED STATEMENTS OF OPERATIONS
|Three Months Ended December 31,|
|Cost of goods sold||4,591,675||3,202,577|
|General and administrative||912,320||660,121|
|Total operating expenses||1,353,312||1,118,393|
|Income (loss) from operations||23,221||(194,198||)|
|Other (expense) income:|
|Other expense, net||(11,400||)||(13,120||)|
|Total other (expense) income||(5,746||)||7,212|
|Net income (loss)||$17,475||($186,986||)|
|Net income (loss) per common and common equivalent share|
|Weighted average number of common and common equivalent shares outstanding|
FORWARD INDUSTRIES, INC.
CONSOLIDATED BALANCE SHEETS
|December 31,||September 30,|
|Cash and cash equivalents||$18,121,051||$18,471,520|
|Accounts receivable, net||4,650,380||4,621,181|
|Prepaid expenses and other current assets||294,320||240,651|
|Total current assets||24,461,665||24,369,738|
|Property and equipment, net||116,842||115,205|
Liabilities and shareholders’ equity
|Accrued expenses and other current liabilities||535,128||885,332|
|Total current liabilities||3,307,332||3,324,605|
|Commitments and contingencies||--||--|
|Preferred stock, par value $0.01 per share; 4,000,000 shares authorized;|
|no shares issued and outstanding||--||--|
|Common stock, par value $0.01 per share; 40,000,000 shares authorized;|
|8,791,296 and 8,761,629 shares issued; and|
|8,084,886 and 8,055,219 shares outstanding||87,913||87,616|
|Capital in excess of par value||16,562,207||16,469,142|
|Treasury stock, 706,410 shares at cost, respectively||(1,260,057||)||(1,260,057||)|
|Total shareholders' equity||21,317,207||21,206,370|
|Total liabilities and shareholders’ equity||$24,624,539||$24,530,975|
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