Company: FWDI
Filing Date: 2025-12-11
Form Type: 10-K
Source: 0001683168-25-009068
Chunk: 42

Company: Forward Industries, Inc.
Filing Date: 2025-12-11
Form: 10-K
Item: Item 1
Chunk 42
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 loss to the extent such loss exceeds the applicable insurance limitation,
which could have a material adverse effect upon our financial condition and results of operations. As of November 30, 2025, the Company
maintained approximately $40.4 million in uninsured deposits.

 25 

Risks Related to Our Common Stock

Due to factors beyond our control, our stock
price may be volatile.

Any of the following factors
could affect the market price of our common stock:

    ·
    Our failure to increase revenue in each succeeding quarter and achieve and thereafter maintain profitability;

    ·
    Adverse regulatory developments such as the recent actions brought by securities regulators on crypto asset activities;

    ·
    Volatility in the price of crypto assets, specifically SOL;

    ·
    Our failure to meet our revenue and earnings guidance or our failure to meet financial analysts’ performance expectations;

    ·
    Cybersecurity breaches; 

    ·
    The loss of customers or our failure to attract more customers;

    ·
    Creditworthiness and solvency of counterparties and clients;

    ·
    Loss of key employees;

    ·
    The sale of a large amount of common stock by our shareholders;

    ·
    Our announcement of a pending or completed acquisition or our failure to complete a proposed acquisition;

    ·
    An adverse court ruling or regulatory action;

    ·
    Changes in regulatory practices, including tariffs and taxes; 

    ·
    Changes in market valuations of similar companies;

    ·
    Short selling activities;

    ·
    Our announcement of any financing or a change in the direction of our business;

    ·
    Announcements by us, or our competitors, of significant contracts, acquisitions, commercial relationships, joint ventures or capital commitments; or

    ·
    Other forces outside of our control such as inflation, Federal Reserve interest rate increases and the recessionary environment it could bring, geopolitical turmoil, and other developments that could adversely impact the U.S. and global economies and erode investor sentiment.

In the past, following periods
of volatility in the market price of a company’s securities, securities class action litigation has often been instituted. A securities
class action suit against us could result in substantial costs and divert our management’s time and attention, which would otherwise
be used to benefit our business.

If we become subject to a regulatory investigation,
it could cause us to incur substantial costs or require us to change our business practices in a manner materially adverse to our business.

From time