Company: FWDI
Filing Date: 2025-09-17
Form Type: S-3ASR
Source: 0001683168-25-007043
Chunk: 53

Company: Forward Industries, Inc.
Filing Date: 2025-09-17
Form: S-3ASR
Chunk 53
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 to underwriters for resale to purchasers; |

| · | directly to purchasers; |

| · | through agents or dealers to purchasers; or |

| · | through a combination of any of these methods. |

In addition, we or the selling
securityholders may enter into derivative or hedging transactions with third parties, or sell securities not covered by this prospectus
to third parties in privately negotiated transactions. In connection with such a transaction, the third parties may sell securities covered
by and pursuant to this prospectus and any accompanying prospectus supplement. If so, the third party may use securities borrowed from
us or the selling securityholders or others to settle such sales and may use securities received from us to close out any related short
positions. We or the selling securityholders may also loan or pledge securities covered by this prospectus and any accompanying prospectus
supplement to third parties, who may sell the loaned securities or, in an event of default in the case of a pledge, sell the pledged securities
pursuant to this prospectus and any accompanying prospectus supplement.

We or the selling securityholders will identify
the specific plan of distribution, including any underwriters, dealers, agents or direct purchasers and their compensation in a prospectus
supplement.

<div align='center'>INCORPORATION
BY REFERENCE</div>

The SEC allows us to “incorporate by reference”
the information we file with the SEC, which means that we can disclose important information to you by referring you to those documents.
The information incorporated by reference is considered to be part of this prospectus. Information that we file later with the SEC will
automatically update and supersede information in this prospectus. In all cases, you should rely on the later information over different
information included in this prospectus or the prospectus supplement. The following documents have been filed by us with the SEC and are
incorporated by reference into this prospectus:

| · | The description of our securities contained in our Registration Statement (File No. 001-34780) on Form                                 
 8-A filed with the SEC on April 26, 2013, and any amendments and reports filed for the purpose of updating such description, including 
 Exhibit 4.1 to our Annual Report on Form 10-K filed with the SEC on December 27, 2019.                                                 |

| 37 |

All reports and other documents that we subsequently
file with the SEC (other than any portion of such filings that are