Exit / Disposal Costs

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________   FORM 8-K ______________   CURRENT REPORT   Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   Date of Report (Date of earliest event reported): July 21, 2023   Forward Industries, Inc. (Exact name of registrant as specified in its charter)   New York   001-34780   13-1950672 (State or Other Jurisdiction   (Commission   (I.R.S. Employer of Incorporation)   File Number)   Identification No.)   700 Veterans Memorial Hwy. Suite 100 Hauppauge , New York 11788 (Address of Principal Executive Office) (Zip Code)   (631) 547-3041 (Registrant’s telephone number, including area code)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share FORD The NASDAQ Capital Market   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐                Item 2.05 Costs Associated with Exit or Disposal Activities.   On July 21, 2023, a special committee of the Board of Directors of Forward Industries, Inc. (the “Company”), after extensive discussions with management, decided to cease its Retail Distribution Operations. The exit of the Retail Distribution Operations will have no effect on the operations of the Company’s Design or OEM Distribution businesses. The Company is working on a plan that will ensure the transition out of the retail business is done in an orderly manner while also satisfying existing customer obligations. At this time, the Company does not know the extent, or a range, of the costs that the Company will incur as a result of the exit. The Company will file an amendment to this Form 8-K under this Item 2.05 within four business days after the Company has made a determination of such an estimate of the costs or range of estimates of costs as a result of the exit. As previously disclosed, the Retail Distribution Operations as a segment had an operating loss of approximately $1,062,000 for the six months ended March 31, 2023 and an operating loss of $1,809,000 for the fiscal year ended September 30, 2022.               2         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 27, 2023 By: /s/ Kathleen Weisberg       Name: Kathleen Weisberg       Title: Chief Financial Officer                                                 3