Company: FWDI
Filing Date: 2025-11-10
Form Type: 424B5
Source: 0001683168-25-008141
Chunk: 23

Company: Forward Industries, Inc.
Filing Date: 2025-11-10
Form: 424B5
Chunk 23
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 is controlled by Leow Thung Thung and is located at 8, Jalan Bukit Tiara 2, Bukit Tiara, Kuala Lumpur, 56000 Malaysia. |

| (4) | Consists of 54,055 shares of our common stock acquired by Christopher Klinvex. Christopher Klinvex is 
 located at 92 Ocean Oaks Lane, Palm Coast, FL 32137, United States.                                   |

| (5) | Consists of 77,027 shares of our common stock acquired by CM Sub-Advised Fund 2 LTD. CM Sub-Advised Fund         
 2 LTD is controlled by Chris Fahy and is located at 81 Pondfield Road C302, Bronxville, NY 10708, United States. |

| (6) | Consists of 216,217 shares of our common stock acquired by DCG International Investments Ltd. DCG International                              
 Investments Ltd. is a wholly owned, indirect subsidiary of Digital Currency Group, Inc. (“DCG”). Barry Silbert, as the CEO                   
 of DCG, has authority delegated by DCG’s Board of Directors and Investment Committee to vote or dispose of the securities. DCG International 
 Investments Ltd. is an affiliate of Grayscale Securities, LLC (a FINRA registered broker-dealer) through common, indirect ownership. DCG     
 International Investments Ltd. Is located at 3 Mill Creek Rd., Suite 14, Pembroke HM 05, Bermuda.                                            |

| (7) | Consists of 32,433 shares of our common stock acquired by Declan Doogan. Declan Doogan is located at 16 
 Hammock Beach Ct., Palm Coast, FL 32137, United States.                                                 |

| (8) | Consists of 21,622 shares of our common stock acquired by Gortalia Ventures, LLC. Gortalia Ventures, LLC.                                 
 is controlled by The Declan Doogan 2014 Trust, which is controlled by Jonathan Doogan, Paul Doogan and Stephen Doogan. Gortalia Ventures, 
 LLC is located at 16 Hammock Beach Ct., Palm Coast, FL 32137, United States.                                                              |

| (9) | Consists of 27,028 shares of our common stock acquired by Halcyon Asymmetric Capital Trust. Halcyon Asymmetric                          
 Capital Trust is controlled by David Centeno and Rosemarie B. Centeno. Halcyon Asymmetric Capital Trust is located