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Forward Industries, Inc. – ‘10-Q’ for 6/30/17 – ‘EX-10’

On:  Monday, 8/14/17, at 4:02pm ET   ·   For:  6/30/17   ·   Accession #:  1003297-17-285   ·   File #:  1-34780

Previous ‘10-Q’:  ‘10-Q’ on 5/12/17 for 3/31/17   ·   Next:  ‘10-Q’ on 2/14/18 for 12/31/17   ·   Latest:  ‘10-Q’ on 2/14/24 for 12/31/23   ·   7 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/14/17  Forward Industries, Inc.          10-Q        6/30/17   40:1.8M                                   EDGARX.com, LLC/FA

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    284K 
 2: EX-10       Material Contract                                   HTML     17K 
 3: EX-31       Certification -- §302 - SOA'02                      HTML     19K 
 4: EX-31       Certification -- §302 - SOA'02                      HTML     19K 
 5: EX-32       Certification -- §906 - SOA'02                      HTML     18K 
12: R1          Document And Entity Information                     HTML     40K 
13: R2          Condensed Consolidated Balance Sheets (Unaudited)   HTML     77K 
14: R3          Condensed Consolidated Balance Sheets (Unaudited)   HTML     23K 
                (Parenthetical)                                                  
15: R4          Consolidated Statements of Operations and           HTML     62K 
                Comprehensive Income (Loss) (Unaudited)                          
16: R5          Condensed Consolidated Statement of Shareholders'   HTML     32K 
                Equity (Unaudited)                                               
17: R6          Condensed Consolidated Statements of Cash Flows     HTML     73K 
                (Unaudited)                                                      
18: R7          1. Overview                                         HTML     19K 
19: R8          2. Accounting Policies                              HTML     30K 
20: R9          3. Shareholders' Equity                             HTML     16K 
21: R10         4. Share-Based Compensation                         HTML     44K 
22: R11         5. Income Per Share                                 HTML     29K 
23: R12         6. Concentrations                                   HTML     26K 
24: R13         7. Related Party Transactions                       HTML     19K 
25: R14         8. Legal Proceedings                                HTML     16K 
26: R15         2. Accounting Policies (Policies)                   HTML     49K 
27: R16         4. Share-Based Compensation (Tables)                HTML     43K 
28: R17         6. Concentrations (Tables)                          HTML     28K 
29: R18         3. Shareholders' Equity (Details Narrative)         HTML     22K 
30: R19         4. Share-Based Compensation (Details - Option       HTML     61K 
                activity)                                                        
31: R20         4. Share-Based Compensation (Details - Options by   HTML     49K 
                exercise price)                                                  
32: R21         4. Share-Based Compensation (Details - Restricted   HTML     45K 
                stock activity)                                                  
33: R22         4. Share-Based Compensation (Details Narrative)     HTML     31K 
34: R23         5. Income Per Share (Details - Diluted loss per     HTML     42K 
                share)                                                           
35: R24         5. Income Per Share (Details - Antidilutive         HTML     21K 
                shares)                                                          
36: R25         6. Concentrations (Details - Concentration sales)   HTML     37K 
37: R26         7. Related Party Transactions (Details Narrative)   HTML     20K 
39: XML         IDEA XML File -- Filing Summary                      XML     62K 
38: EXCEL       IDEA Workbook of Financial Reports                  XLSX     34K 
 6: EX-101.INS  XBRL Instance -- ford-20170630                       XML    471K 
 8: EX-101.CAL  XBRL Calculations -- ford-20170630_cal               XML     88K 
 9: EX-101.DEF  XBRL Definitions -- ford-20170630_def                XML    190K 
10: EX-101.LAB  XBRL Labels -- ford-20170630_lab                     XML    453K 
11: EX-101.PRE  XBRL Presentations -- ford-20170630_pre              XML    338K 
 7: EX-101.SCH  XBRL Schema -- ford-20170630                         XSD     62K 
40: ZIP         XBRL Zipped Folder -- 0001003297-17-000285-xbrl      Zip     50K 


‘EX-10’   —   Material Contract


This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]



  Exhibit 10.2  

 

Forward Industries, Inc.

477 S. Rosemary Avenue

Suite 219

West Palm Beach, Florida 33401

 

 

 

May 4, 2017

 

 

Forward Industries Asia-Pacific Corporation

10F-5 No. 16, Lane 609

Chung Shin Road, Section 5

San Chung District 

New Taipei City, Taiwan, Republic of China

Attention: Mr. Terrance Wise

 

Dear Terry:

 

            In connection with that certain Buying Agency and Supply Agreement between Forward Industries, Inc. (“Forward”) and Forward Industries (Asia-Pacific) Corporation (“Forward China”) dated September 9, 2015 (the “Agreement”), Forward pays a Service Fee (as defined in the Agreement) to Forward China.  The Agreement provides for the Service Fee to be renegotiated in the event that Forward’s Gross Sales significantly decreases (20% or more) in two consecutive quarters; Forward has seen such a significant decrease in more than two consecutive quarters.   In consideration for $100 and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, effective April 1, 2017, Forward China agrees to forgo its rights to the payment of the 4% portion of the Service Fee until such time as the earlier of: (i) the end of Forward’s 2017 fiscal year end, and (ii) Forward China and Forward renegotiate the Service Fee as provided for in the Agreement. 

 

            If you are agreeable to the foregoing, please sign below.  

 

 

 

Sincerely,

 

 

/s/ Michael Matte

Michael Matte, CFO of Forward Industries, Inc.

 

I hereby agree:

 

 

 

/s/ Terry Wise

Terry Wise, Principal of Forward Industries (Asia-Pacific) Corporation

 


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:8/14/178-K
For Period end:6/30/17
5/4/17
4/1/17
9/9/158-K
 List all Filings 


7 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

12/16/22  Forward Industries, Inc.          10-K        9/30/22   82:5.4M                                   GlobalOne Filings Inc/FA
12/16/21  Forward Industries, Inc.          10-K        9/30/21   89:6.1M                                   GlobalOne Filings Inc/FA
 8/12/21  Forward Industries, Inc.          10-Q        6/30/21   60:4.6M                                   GlobalOne Filings Inc/FA
 5/13/21  Forward Industries, Inc.          10-Q        3/31/21   61:3.8M                                   GlobalOne Filings Inc/FA
 2/12/21  Forward Industries, Inc.          10-Q       12/31/20   60:2.7M                                   GlobalOne Filings Inc/FA
12/17/20  Forward Industries, Inc.          10-K        9/30/20   94:5.4M                                   GlobalOne Filings Inc/FA
 8/14/20  Forward Industries, Inc.          10-Q        6/30/20   64:3.4M                                   GlobalOne Filings Inc/FA
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Filing Submission 0001003297-17-000285   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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