Company: FWDI
Filing Date: 2025-09-17
Form Type: S-3ASR
Source: 0001683168-25-007043
Chunk: 42

Company: Forward Industries, Inc.
Filing Date: 2025-09-17
Form: S-3ASR
Chunk 42
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 fiat-backed reserves, monthly disclosures, anti-money laundering safeguards, and
similar measures. Stablecoins have grown rapidly as a medium of exchange and store of value, particularly on digital asset trading platforms,
and their use as an alternative to digital assets such as bitcoin and SOL could expand further as rules are promulgated under the GENIUS
Act. As of June 30, 2025, two of the seven largest digital assets by market capitalization were U.S. dollar-pegged stablecoins. Stablecoins
are an important aspect of blockchain networks such as Solana and if other blockchains are deemed more attractive than Solana for the
use of stablecoins, that may impact the usefulness of the Solana network and Solana-based blockchain applications, and therefore the value
of SOL.

If we lose key personnel, if we fail to recruit additional highly skilled personnel, or if we lose the services of our Asset Manager, our ability to operate and manage our digital asset treasury strategy will be impaired.

Our ability to operate and manage our digital
asset treasury strategy depends upon our ability to attract and retain highly qualified personnel, including our newly appointed Chairman,
Kyle Samani, members of our executive team, or other key personnel. In addition, we rely heavily on the services of our Asset Manager
for the management of our digital asset treasury and for strategic guidance relating to our business, operations, growth initiatives and
industry trends in the crypto technology sector. The loss of the services of any of our executive officers, key employees, or the Asset
Manager, or our inability to find suitable replacements, could result in significant disruptions to our operations and management of our
digital assets.

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<div align='center'>USE
OF PROCEEDS</div>

Unless we specify otherwise in an accompanying
prospectus supplement, we intend to use the net proceeds from the sale of the securities by us to provide additional funds for working
capital, and other general corporate purposes. Any specific allocation of the net proceeds of an offering of securities will be determined
at the time of such offering and will be described in the accompanying supplement to this prospectus.

We will not receive any proceeds from the sale
of securities by the selling security holders offered by any prospectus supplement.

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<div align='center'>DIVIDEND POLICY</div>

We do not expect to pay any cash dividends to
our stockholders in the foreseeable future. Payment of future cash dividends, if any, will be at the discretion of our board of