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

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.

Contact Information: For more information or interview requests, please contact: C. Howie Honeyman - Chief Executive Officer,  [email protected], 416-451-8155