Company: FWDI
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001683168-25-007923
Chunk: 24

Company: Forward Industries, Inc.
Filing Date: 2025-11-03
Form: 424B5
Chunk 24
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 Connaught Road Central, Central Hong Kong.                                          |
| (18) | Consists of 162,163 shares of our common stock acquired by Bastion Trading Limited. Bastion Trading Limited                                    
 is controlled by Wei Zhu and is located at Rm.2302, 23/F, Lee Garden Five, 18 Hysan Avenue, Causeway Bay, Hong Kong.                           |
| (19) | Consists of 8,109 shares of our common stock acquired by Beimnet Abebe. Beimnet Abebe is located at 510                                        
 E 14th St apt 402, New York, NY 10090, United States. The Selling Securityholder is an employee of Galaxy Digital Services LLC, which          
 is affiliated with three registered broker dealers: Galaxy Digital Partners LLC, Galaxy Securities LLC and Fin 2 LLC.                          |
| (20) | Consists of 54,055 shares of our common stock acquired by Belay On Group, LLC. Belay On Group, LLC is                                          
 controlled by Joshua Frase and is located at 56 Spring St, Apt 3, New York, NY 10012, United States.                                           |
| (21) | Consists of 90,956 shares of our common stock acquired by BEMAP Master Fund LTD. BEMAP Master Fund LTD                                         
 is controlled by Jeff Muller CCO/COO of Monashee Investment Management LLC. BEMAP Master Fund LTD is located at 75 Park Plaza, 4th Floor,      
 Boston, MA 02116, United States.                                                                                                               |
| (22) | Consists of 521,622 shares of our common stock acquired by BH Digital Liquid Directional Master Fund I,                                        
 LP. Brevan Howard General Partner Limited (“BHGPL”) is the general partner of BH Digital Liquid Directional Master Fund I,                     
 LP. The directors of BHGPL are: Carol Reynolds, Karla Bodden, Philippe Lespinard, Phil Schmitt, James Vernon and Risto Silander (collectively, 
 the “Controlling Persons”). As directors, the Controlling Persons may be deemed to have shared voting and dispositive power                    
 over the Registrable Securities held by BH Digital Liquid Directional Master Fund I, LP. Each such person disclaims beneficial ownership       
 of the Registrable Securities. BH Digital Liquid Directional Master Fund I, LP is located at 190 Elgin Ave, George Town, Grand Cayman          
 KY1-9008, Cay