Company: FWDI
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001683168-25-007923
Chunk: 131

Company: Forward Industries, Inc.
Filing Date: 2025-11-03
Form: 424B5
Chunk 131
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 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.

| 26 |

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

We may issue and sell from time to time shares
of our Common Stock having an aggregate gross sales price of up to $4 billion. Because there is no minimum offering amount required as
a condition to close this offering, the actual total public offering amount, commissions and proceeds to us, if any, are not determinable
at this time. There can be no assurance that we will sell any shares of our Common Stock under or fully utilize the Sales Agreement with
the Agent as a source of financing.

We may use the net proceeds, if any, from the
sale of our Common Stock offered by this prospectus, if any, for general corporate purposes, including, among other things:

| 1. | working capital; |

| 2. | pursuit of our Solana strategy; |

| 3. | the purchase of income generating assets to grow our business; and/or |

| 4. | other capital expenditures. |

We may also use such proceeds to fund acquisitions
of businesses, assets or technologies that complement our current business. We have not determined the specific amount of the net proceeds
to be used for such purposes. As a result, our management will retain broad discretion over the allocation of the net proceeds from the
sale of the shares of our Common Stock offered by this prospectus.

| 27 |

<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.

| 28 |

<div align='center'>PLAN OF DISTRIBUTION</div>

We entered into the Sales Agreement with the Agent
on September 16, 2025. Pursuant to this prospectus, we may offer and sell shares of our Common Stock having an aggregate gross sales price
of up to $4 billion from time to time to or through Cantor, acting as principal and/or sales agent. A copy of the Sales Agreement will
be filed as an exhibit to a Current Report on