Company: FWDI
Filing Date: 2025-09-17
Form Type: S-3ASR
Source: 0001683168-25-007043
Chunk: 44

Company: Forward Industries, Inc.
Filing Date: 2025-09-17
Form: S-3ASR
Chunk 44
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16, 2025, we had 85,067,662
shares of common stock outstanding. In addition, as of that date, there were approximately 27,658,436 shares underlying our
outstanding warrants and stock options.

Preferred Stock

We are authorized to issue
4,000,000 shares of “blank check” preferred stock with designations, rights and preferences as may be determined from time
to time by our Board.

At the date of this prospectus,
100,000 shares have been designated as Series A Participating Preferred Stock (“Series A Preferred”) and there are
no shares of Series A Preferred outstanding.

As of the date of this prospectus,
6,700 shares have been designated as Series A-1 Preferred Stock and there are no shares outstanding.

As of the date of this prospectus,
1,000,000 shares have been designated Series B preferred stock and there are no shares outstanding.

Preferred stock is available
for possible future financings or acquisitions and for general corporate purposes without further authorization of our stockholders unless
such authorization is required by applicable law, or the rules of any securities exchange or market on which our stock is then listed
or admitted or trading.

Our Board may authorize the
issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders
of common stock. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate
purposes, could, under some circumstances, have the effect of delaying, deferring or preventing a change in control of the Company. For
a description of how future issuances of our preferred stock could affect the rights of our stockholders, see “Certain Provisions
of New York Law and of Our Charter and Bylaws—Certificate of Incorporation and Bylaws,” below.

A prospectus supplement relating
to any series of preferred stock being offered will include specific terms relating to the offering. Such prospectus supplement will include:

| · | the title and stated or par value of the preferred stock;                                                  |
| · | the number of shares of the preferred stock offered, the liquidation preference per share and the offering 
 price of the preferred stock;                                                                              |
| · | the dividend rate(s), period(s) and/or payment date(s) or method(s) of calculation thereof applicable to   
 the preferred stock;                                                                                       |

| 28 |

| · | whether dividends shall be cumulative or non-cumulative and, if cumulative, the date from