Company: FWDI
Filing Date: 2025-11-14
Form Type: 424B5
Source: 0001683168-25-008451
Chunk: 65

Company: Forward Industries, Inc.
Filing Date: 2025-11-14
Form: 424B5
Chunk 65
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 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 directors
and will depend on a number of factors, including our results of operations, financial condition, future prospects, contractual restrictions,
restrictions imposed by applicable law, and other factors our board of directors deems relevant.

| 26 |

<div align='center'>SELLING
SECURITY HOLDERS</div>

This prospectus also relates to the possible resale
by certain of our selling security holders, who we refer to in this prospectus as the “selling security holders,” of securities.
One or more selling security holders to be identified by prospectus supplement or post-effective amendment may sell, under this prospectus
and any applicable supplements, securities issued or to be issued to them by us. The selling security holders shall not sell any securities
pursuant to this prospectus until we have identified such selling security holders and the securities being offered for resale by such
selling security holders