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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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 1.01 Entry into a Material Definitive Agreement.
On April 1, 2022, Forward Industries, Inc. (the “Company”) entered into a Consultancy Agreement (the “Agreement”) with Justwise Group Ltd. (“Justwise”), a company owned by Terry Wise, the Company’s Chief Executive Officer and Chairman of the Board. As part of the Agreement, Justwise will provide product development and marketing support and other consulting services. Additionally, the Company will have the right to sell Justwise’s Koble branded products within North America as well as worldwide for certain other customers identified and agreed to by the parties. In consideration for these rights and the consulting services, the Company shall pay Justwise: (i) $10,000 per month and (ii) a license fee equal to 1% of the Company’s cost to acquire the Koble products. The Agreement is effective March 1, 2022.
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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: April 5, 2022 | By: | /s/ Anthony Camarda | |
| Name: Anthony Camarda | |||
| Title: Chief Financial Officer | |||
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