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

Company: Forward Industries, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 1
Chunk 11
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”), free of charge. The Company also announces
material information to the public about the Company through a variety of means, including press releases and through its X (formerly
known as Twitter) account (@FWDind), in order to achieve broad, non-exclusionary distribution of information to the public and for complying
with its disclosure obligations under Regulation FD. Therefore, we encourage investors, the media and others interested in the Company
to review the information we make available on our website and our X account. The contents of the website and the Company’s X account
are not incorporated into this report.

ITEM 1A.     RISK FACTORS

Investing in our common stock
involves a high degree of risk. You should carefully consider the following risk factors before deciding whether to purchase or sell stock
in the Company. Additional risks and uncertainties not presently known to us, or that we currently deem immaterial, may also impair our
business operations or our financial condition. If any of the events discussed below occur, our business, consolidated financial condition,
results of operations or prospects could be materially and adversely affected. In such case, the value and marketability of the common
stock could decline.

Summary Risk Factors

Our business is subject to numerous
risks and uncertainties that you should consider before investing in our common stock. Set forth below is a summary of the principal risks
we face:

·We adopted a new business strategy dedicated
to SOL which exposes us to significant risk as there is no assurance that we will be able to successfully execute this strategy and business
plan;

·The SEC has taken, and may in the future take,
the view that some of the digital assets held by the Company are securities, which has adversely affected, and could adversely affect
the value of such digital assets and the financial condition of the Company and result in potentially substantial expense to the Company;

·A particular crypto asset’s status as a
security in any relevant jurisdiction is subject to a high degree of uncertainty, and if we are unable to correctly classify a crypto
asset, we may be subject to regulatory scrutiny, investigations, additional reporting requirements and other adverse consequences, including
potentially becoming subject to the Investment Company Act of 1940 which would impose significant financial and regulatory burdens and
compliance costs;

·The high volatility of trading prices that many
digital assets, including SOL, have experienced and may continue to experience could have a material adverse effect on the value of the
Company’s digital assets, which could lose all or substantially