Company: FWDI
Filing Date: 2025-09-17
Form Type: S-3ASR
Source: 0001683168-25-007043
Chunk: 100

Company: Forward Industries, Inc.
Filing Date: 2025-09-17
Form: S-3ASR
Chunk 100
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 in many cases, are being conducted
by sophisticated, well organized groups and individuals, including state actors. The techniques used to obtain unauthorized, improper
or illegal access to systems and information (including personal data and digital assets), disable or degrade services, or sabotage systems
are constantly evolving, may be difficult to detect quickly, and often are not recognized or detected until after they have been launched
against a target. These attacks may occur on our systems or those of our third-party service providers or partners. We may experience
breaches of our security measures due to human error, malfeasance, insider threats, system errors or vulnerabilities or other irregularities.
In particular, we expect that unauthorized parties will attempt to gain access to our systems and facilities, as well as those of our
partners and third-party service providers, through various means, such as hacking, social engineering, phishing and fraud. Threats can
come from a variety of sources, including criminal hackers, hacktivists, state intrusions, industrial espionage, and insiders. In addition,
certain types of attacks could harm us even if our systems are left undisturbed. For example, certain threats are designed to remain dormant
or undetectable, sometimes for extended periods of time, or until launched against a target and we may not be able to implement adequate
preventative measures. Further, there has been an increase in such activities due to the increase in work arrangements. The risk of cyberattacks
could also be increased by cyberwarfare in connection with the ongoing Russia and Israel conflicts, or other future conflicts, including
potential proliferation of malware into systems unrelated to such conflicts. Any future breach of our operations or those of others in
the Solana industry, including third-party services on which we rely, could materially and adversely affect our financial condition and
results of operations.

The emergence or growth of other digital assets, including those with significant private or public sector backing, including by governments, consortiums or financial institutions, could have a negative impact on the price of SOL and adversely affect the Company’s securities.

Following the launch of the Company’s proposed
digital asset treasury strategy, as a result of our Solana strategy, we expect our assets to be concentrated in SOL holdings. Accordingly,
the emergence or growth of digital assets other than SOL, including those with significant private or public sector backing, including
by governments, consortiums or financial institutions, may have a material adverse effect on our financial condition. As of June 30, 2025,
Solana