Forward Water Technologies Announces Financial Results for the Three-Month Ended June 30, 2025

Executive Summary

• Forward Water Technologies Corp. released its unaudited condensed consolidated interim financial statements and management’s discussion and analysis (MD&A) for the three-month period ended June 30, 2025.
• The company reported a net loss of $447,532 and revenue of $4,692 for the quarter, with cash reserves standing at $278,575.
• Management highlighted progress on a pilot evaluation for a Fortune 500 client regarding wastewater re-use and noted ongoing commercial opportunities in direct lithium extraction (DLE).

Key Details

• Revenue: $4,692 for the three months ended June 30, 2025.
• Net Loss: $(447,532) for the three months ended June 30, 2025.
• Comprehensive Loss: $(447,532) for the three months ended June 30, 2025.
• Loss Per Share: $(0.009).
• Total Assets: $3,208,489.
• Cash at End of Period: $278,575.
• Auditor Change: On May 23, 2025, the Company announced the change of auditors from RSM Canada LLP to Forbes Anderson LLP.
• Operational Update: The Company is moving ahead with a detailed pilot evaluation for a Fortune 500 listed company focused on wastewater re-use and water resource preservation.
• Strategic Focus: Management is leveraging its knowledge base in direct lithium extraction (DLE) to open commercial opportunities, despite receding prices for battery-grade materials.

Notable Quotes

• "FWTC has made significant progress in moving ahead with a detailed pilot evaluation for a Fortune 500 listed company. The client's expressed interest in wastewater re-use and preservation of water resources aligns directly with FWTC's capabilities. We are excited about the pending outcomes and furthering the relationship. In addition, the broad knowledge base in the direct lithium extraction (DLE) space that FWTC has created continues to be leveraged to open commercial opportunities even as the price of battery grade materials has receded." — C. Howie Honeyman, CEO