UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July ~~May 15~~11, 2024

Forza X1, Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-40623		27-1417610
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

3101 S. US-1 Ft. Pierce, Florida 34982

Ft. Pierce, Florida 34982

(Address of principal executive offices)

(772) 429-2525

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common stock, par value $0.001 per share		FRZA		The Nasdaq Stock Market LLC (Nasdaq Capital Market)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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 2.0205. ~~Results~~Costs ofAssociated ~~Operations~~with ~~and~~Exit ~~Financial~~or ~~Condition~~Disposal Activities.

OnIn ~~May~~an 15effort to retain cash and reduce expenditures and as a result of current market conditions, on July 11, 2024, the Board of Directors of Forza X1, Inc. (the “Company”) ~~issued~~ adetermined ~~press~~to ~~release~~discontinue ~~announcing~~and wind ~~its~~down ~~financial~~the ~~results~~Company’s ~~for~~business ~~the~~related ~~quarter~~to ~~ended~~the ~~March~~development ~~31,~~and ~~2024.~~sale Aof ~~copy~~electric ofboats ~~the~~utilizing ~~press~~its ~~release~~proprietary isoutboard ~~furnished~~electric asmotor. ~~Exhibit~~The ~~99.1~~Company intends to ~~this~~explore ~~Current~~strategic ~~Report~~alternatives, onincluding ~~Form~~a ~~8-K~~potential ~~and~~merger iswith ~~incorporated~~Twin ~~herein~~Vee byPowerCats ~~reference~~Co.

The ~~information~~Company incontinues ~~this Item 2.02 and in the press release attached as Exhibit 99.1~~ to ~~this~~optimize ~~Current~~its ~~Report~~workforce ~~on Form 8-K shall not be deemed~~ to ~~be “filed” for purposes of Section~~ 18align ofwith ~~the~~current ~~Securities~~production ~~Exchange~~needs ~~Act of 1934, as amended, or otherwise subject to the liabilities of that section or Sections 11~~ and ~~12(a)(2) of~~financial ~~the~~realities ~~Securities Act of 1933, as amended. The information contained in this Item 2.02~~ and inis ~~the~~currently ~~press~~down ~~release attached as Exhibit 99.1~~ to ~~this~~five ~~Current Report on Form 8-K shall not be incorporated by reference into any filing with the U~~employees.~~S. Securities and Exchange Commission made by the Company, whether made before or after the date hereof, regardless of any general incorporation language in such filing.~~

~~Item~~The 9Company expects to incur pre-tax charges of less than $100,000 for the workforce reduction, most of which is expected to be incurred in the third quarter of fiscal year 2024.~~01.~~ ~~Financial~~These ~~Statements~~charges will be substantially settled in cash and ~~Exhibits~~almost entirely consist of severance, continuation of salaries and benefits over a transitional period during which impacted employees remain employed but are not expected to provide active service, and other customary employee benefit payments in connection with an employee reduction. The wind down of the Company’s operations is expected to reduce the Company’s monthly cash used in operating activities from approximately $403,000 per month in the first quarter of 2024 by more than 50%, to less than approximately $200,000 per month.

~~(d)~~This ~~Exhibits~~Item 2.05 contains “forward-looking” statements and estimates, including anticipated cost reductions and estimated restructuring costs. These statements are subject to a number of risks and uncertainties that could cause actual results to differ materially, including whether anticipated cost reductions will be achieved and other risks detailed in the “Risk Factors” section of our most recent periodic report filed with the SEC. These statements represent our estimates and assumptions only as of the date of this Current Report. We do not undertake any obligation to update publicly any such forward-looking statements, even if new information becomes available.

Exhibit Number		Exhibit Description
99.1		Press Release issued by Forza X1, Inc. dated May 15, 2024
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

~~SIGNATURES~~Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: July 12, 2024	FORZA X1, INC.
	(Registrant)

	By:	/s/ Joseph Visconti
	Name:	Joseph Visconti
	Title:	Interim Chief Executive Officer

Date: May 15, 2024	FORZA X1, INC. (Registrant)
	By:	/s/ Joseph Visconti
	Name:	Joseph Visconti
	Title:	Interim Chief Executive Officer

Filing Compare · Forza X1, Inc.