Company: FWDI
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001683168-25-007923
Chunk: 125

Company: Forward Industries, Inc.
Filing Date: 2025-11-03
Form: 424B5
Chunk 125
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 condition or the results of our operations.

| 23 |

The irreversibility of digital asset transactions exposes us to risks of theft, loss and human error, which could negatively impact our business.

Digital asset transactions are not, from an administrative
perspective, reversible without the consent and active participation of the recipient of the transaction or, in theory, control or consent
of a majority of the processing power on that digital asset network. Once a transaction has been verified and recorded in a block that
is added to the blockchain, an incorrect transfer of digital assets or a theft of digital assets generally will not be reversible, and
we may not be capable of seeking compensation for any such transfer or theft.

Although we plan to regularly transfer digital assets
to or from vendors, consultants and services providers, it is possible that, through computer or human error, or through theft or criminal
action, such assets could be transferred in incorrect amounts or to unauthorized third parties.

To the extent we are unable to seek a corrective
transaction to identify the third party which has received our digital assets through error or theft, we will be unable to revert or otherwise
recover the impacted digital assets, and any such loss could adversely affect our business, results of operations and financial condition.

We will be subject to significant competition in the growing digital asset industry and the Company’s business, operating results, and financial condition may be adversely affected if the Company is unable to compete effectively.

Following the launch of the Company’s proposed
digital asset treasury strategy, the Company will operate in a competitive environment and will compete against other companies and other
entities with similar strategies, including companies with significant holdings in SOL and other digital assets, and the Company’s
business, operating results, and financial condition may be adversely affected if the Company is unable to compete effectively.

Solana faces unique technical, governance and concentration risks that could materially affect its long-term viability.

Solana is a high-throughput Layer 1 blockchain with
architectural features that differ significantly from other blockchains, such as Ethereum. While these features allow for rapid processing
of transactions, they introduce risks that could adversely impact the value of SOL and the stability of the Solana network. Historically,
Solana has suffered network outages, slow operations and validator coordination failures. If such challenges were to persist, the confidence
of the Solana development community and its users will be adversely affected, which could cause a rapid decline in the value of SOL. In
addition, Solana’s consensus mechanism (Proof of History