Company: FWDI
Filing Date: 2025-11-14
Form Type: 424B5
Source: 0001683168-25-008451
Chunk: 31

Company: Forward Industries, Inc.
Filing Date: 2025-11-14
Form: 424B5
Chunk 31
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 markets and onchain strategies, including staking, lending, and participation in decentralized finance
(“DeFi”) protocols, as well as pursuing accretive partnerships and acquisitions within the Solana ecosystem.

| 5 |

Our Treasury Policy is intended to bring value
to our stockholders through the following:

| · | utilizing intelligent capital markets issuances, including the issuance of equity, preferred and debt,                                  
 where we may issue capital for the benefit of stockholders to purchase and hold more SOL;                                               |
| · | staking the majority of the SOL in our treasury to earn a staking yield and turn the treasury into a productive                         
 asset;                                                                                                                                  |
| · | purchasing SOL at a discount to the current spot price, including through over the counter transactions                                 
 and strategic partnerships;                                                                                                             |
| · | actively participating in DeFi protocols and other onchain strategies to increase SOL per share;                                        |
| · | selling our SOL holdings, whether on the open market, through block trades, or other negotiated transactions,                           
 for various reasons and at various times, including, in order to repurchase shares of our Common Stock when our Board of Directors (the 
 “Board”) believes such repurchases will result in accretive value creation for our stockholders and at such times when                  
 it is legally permissible to do so.                                                                                                     |

We believe that SOL is the fastest and most used
public blockchain in the world, processing more transactions and generating more on chain fee revenue than all other blockchains combined.
Solana has established itself as a high-performance blockchain and one of the most active onchain ecosystems, primarily due to its differentiated
approach to blockchain design, committed and growing developer community, and strong social layer.

There can be no assurance that the value of SOL
will increase, and investors should carefully consider the risks associated with digital assets. See “Risk Factors - Risks Related to the Company’s Business and Solana Strategy and Holdings” for additional information.

How We Earn Staking Rewards

To earn staking rewards, we intend to delegate
our SOL to our own validators, which are operated by third-party service providers through a white-label arrangement. We may also delegate
to other third-party SOL validators via Solana’s in-protocol delegation system. We will continue to keep the SOL held by third party
custodians. This means we deposit our SOL into a stake account, which is then delegated to a validator’s vote account. Both our
validators and the third-party validators we select are