Company: FWDI
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001683168-25-009068
Chunk: 168

Company: Forward Industries, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 1A
Chunk 168
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 the Solana blockchain or any trading venue and makes no assurances regarding the
security, functionality, or continued operation of either.

Other potential risks and uncertainties include,
without limitation:

·The possibility that a viable trading market never develops, is
not sustained, or ceases to exist; 

·Adverse attention or action from regulatory authorities; 

·The possibility that the technology on which the blockchain depends fails
to function properly or ceases to function entirely, which could result in the inability to access, transfer, or sell tokenized
shares of common stock; 

·Uncertainty as to the potential application of laws and regulations
including those regarding securities, virtual currencies and money transmission.

Any of the above risks or
other uncertainties could adversely impact the rights and interests of holders of the tokenized shares of common stock.

If holders of tokenized shares of common
stock elect to move their shares back to the traditional transfer agent, the process can be time-consuming and costly,
and during the processing time, trading volatility, stock prices or other factors could adversely impact the
shareholder. 

If a holder elects to
move tokenized shares of common stock from the blockchain to the traditional transfer agent, such process may
be time-consuming and costly to the holder. During the time it takes to move the tokenized shares into traditional form, perceived
benefits of doing so, such as effecting a sale at a specified price with a willing purchaser, could be lost, and disadvantages such as adverse
changes in market conditions, trading volume, or prices could occur during the processing time that render the transaction
unfavorable. The Company will not be responsible for any of the foregoing, including the costs and administrative considerations involved
in effecting the transfer or deviations in prices. 

ITEM 1B.     UNRESOLVED STAFF COMMENTS

Not Applicable.

ITEM 1C.    CYBERSECURITY

Risk Management and Strategy

We recognize the importance of
developing, implementing and maintaining cybersecurity measures to safeguard our information and operational technologies and protect
the confidentiality, integrity and availability of our data. Our business is dependent upon our computer systems, devices, software and
networks to collect, process and store the