Forward Water Technologies Announces Financial Results for the Three-Months and Nine-Months Ended December 31, 2025

Forward Water Technologies Announces Financial Results for the Three-Months and Nine-Months Ended December 31, 2025 Canada NewsWire TORONTO, March 2, 2026 TSX-V: FWTC98 TORONTO, March 2, 2026 /CNW/ - Forward Water Technologies Corp. (TSXV: FWTC) (the "Company") is pleased to announce that it has filed its condensed consolidated audited financial statements and related management's discussion and analysis for the three-month and nine-month periods ended December 31, 2025. Copies of these financial statements and related management discussion and analysis can be found on the Company's issuer profile at www.sedar.com. All financial information in this news release is reported in Canadian dollars, unless otherwise indicated. Financial Highlights For the three-month and nine-month periods ended December 31, 2025, the summary of the financial results are as follows: Three Months Ended Nine Months  Ended Revenue $54,356 $59,048 Net Loss/Comprehensive Loss $(431,376) $(1,361,261) Loss Per Share $(0.009) $(0.027) Total Assets n/a $3,744,565 Cash at End of Period n/a $656,342 Operating Highlights and Recent Corporate Developments On October 29, 2025, FWTC issued 1,025 convertible debenture units in an aggregate principal amount of $1,025,000.  Each unit consists of $1,000 principal amount of convertible debentures and 5,000 common share purchase warrants.  Each warrant entitles the holder to purchase a common share of the Company until October 29, 2028.  The exercise price of the warrants is $0.07 per common share if exercised on or before October 29, 2026 and $0.10 thereafter until expiry.  The convertible debentures mature on October 29, 2028 and bear interest at 14% per annum, payable annually on the last business day of each year.  The holders have the option to convert the principal owing into common shares of the Company at a conversion price of $0.07 per share on or before October 29, 2026 and $0.10 per share thereafter until maturity or repayment. On November 18, 2025, FWTC signed a contract for a technology evaluation project with a globally positioned food and beverage product manufacturer. The project will assess the effectiveness of FWTC's treatment technology for concentrating liquid food and beverage streams to create superior quality concentrates. Management Commentary In the last quarter, FWTC has attracted additional interest from major companies by leveraging previous successes. CEO C. Howie Honeyman said, "In the last quarter we were pleased with the response to our convertible debenture offering, underscoring the confidence the market has in FWTC. Moreover, with the execution of the development projects we have been contracted to complete, we anticipate significant validation of our technology in the wastewater and food & beverage sectors to be reported." Summary of Financial Results Income Statement For the three months ended December 31, For the nine months ended December 31, 2025 2024 2025 2024 Revenue $             54,356 $             56,881 $             59,048 $             56,881 Expenses: General and administrative 229,002 579,893 745,824 771,509 Selling and marketing 10,323 21,166 10,335 21,166 Research and development  211,150 130,842 609,494 130,842 Listing expenses - - - 22,775 Foreign exchange loss (income) (15,196) 30,287 (19,888) 30,287 435,279 762,188 1,345,765 976,579 Net loss before the undernoted (380,923) (705,307) (1,286,717) (919,698) Other expense (income): Amortization of deferred capital contributions (1,056) (1,056) (3,168) (1,056) Finance income (203) (295) (220) (31,189) Finance costs 51,712 18,501 77,932 9,108 50,453 17,150 74,544 (23,137) Net loss and comprehensive loss $        (431,376) $         (722,457) $       (1,361,261) $         (896,561) Loss and comprehensive loss per share Basic and diluted (0.009) (0.015) (0.027) (0.018) Weighted average number of shares outstanding Basic and diluted 49,924,939 49,174,592 49,833,836 49,174,592   Balance Sheet December 31, March 31, 2025 2025 Assets Total current assets 703,630 771,415 Property and equipment 1,350,770 1,577,896 Intangible assets 985,715 1,114,286 Goodwill 280,968 280,968 $      3,321,083 $              3,744,565 Liabilities and Shareholders' Equity Current liabilities: Accounts payables and accrued liabilities $         272,284 $                 274,907 Deferred revenue 79,631 - Current portion of bank loan payable 7,489 6,672 Deferred capital contributions 5,188 8,356 Debenture payable 50,000 50,000 Current portion of license liability 114,967 110,442 529,559 450,377 Bank loan payable 23,072 31,901 Loan payable 250,726 242,109 Convertible debentures 789,891 - License liability 130,492 266,046 1,723,740 990,433 Shareholders' Equity: Share capital 3,725,812 3,712,635 Warrants 678,168 629,426 Equity portion of convertible debentures 95,635 - Contributed surplus 328,127 281,209 Accumulated deficit (3,230,399) (1,869,138) 1,597,343 2,754,132 $      3,321,083 $              3,744,565 Statement of Cash Flows For the nine months ended December 31, 2025 2024 Cash provided by (used in): Operating activities:  Net loss  $         (1,361,261) $                   (896,561)  Items not involving cash  403,538 39,851  Changes in non‑cash operating working capital  7,495 (813,030)  Net cash used in operating activities  (950,228) (1,669,740)  Financing activities:   Proceeds from convertible debentures  969,500 -  Repayment of bank loan payable  (7,605) (11,925)  Proceeds from issuance of subscription receipts  - 1,700,000  Issuance costs  - (172,605)  Interest paid  (2,446) -  Net cash provided by financing activities  959,449 1,515,470  Investing activities:   Purchase of property and equipment  (26,127) (193,236)  Cash obtained from reverse takeover transaction  - 3,299  Net cash (used in) provided by investing activities  (26,127) (189,937)  Change in cash  (16,907) (344,207)  Cash, beginning of period  673,249 1,505,223  Cash, end of period  $             656,342 $                 1,161,016 About Forward Water Technologies Corp. Forward Water Technologies Corp. is a publicly traded Canadian company dedicated to saving the earth's water supply using its patented Forward Osmosis technology. The Company was founded by GreenCentre Canada, a leading technology innovation centre supported by the government of Canada. The Company's technology allows for the reduction of challenging waste streams simultaneously returning fresh water for re-use or surface release. The Company's mandate is to focus on the large-scale implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, mining, agriculture and ultimately municipal water supply and re-use market sectors. In addition, the Company has initiated early-stage R&D for the treatment of food and beverage process streams. For more information, please visit www.forwardwater.com. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Forward-Looking Statements Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws including statements regarding expansion and uptake of the Company's technology and the ability for the Company to achieve its growth strategy and business plan. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, the ability to scale the technology and the adoption of the technology by potential customers. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: the impacts from pandemics or other epidemics, general economic conditions in Canada, the United States and globally; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedarplus.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information SOURCE Forward Water Technologies Corp. View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2026/02/c4059.html Contact: Contact Information: For more information or interview requests, please contact: C. Howie Honeyman - Chief Executive Officer,  [email protected], 416-451-8155