Company: FWDI
Filing Date: 2025-11-14
Form Type: 424B5
Source: 0001683168-25-008451
Chunk: 6

Company: Forward Industries, Inc.
Filing Date: 2025-11-14
Form: 424B5
Chunk 6
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 or third-party operated validators and generating incremental revenue through strategic partnerships and deployments
within the Solana ecosystem.

In addition to operating our
hardware and software product design and engineering services business, our management will focus its resources on our Treasury Policy
and a significant portion of the balance sheet will initially be allocated to holding SOL in our digital asset treasury.

Currently, our Treasury Policy
is primarily dedicated to SOL and other Solana ecosystem tokens. As a result, our assets are highly concentrated in a single digital asset.
Adverse developments specific to SOL, its protocol, or its ecosystem could have a disproportionate impact on our financial condition and
results of operations. We may utilize a range of capital markets and onchain strategies, including staking, lending and participation
in decentralized finance (“”) protocols, as well as pursuing accretive partnerships and acquisitions within the
Solana ecosystem.

Our Treasury Policy is intended
to bring value to our shareholders through the following:

| · | utilizing intelligent capital markets issuances, including the issuance of equity, preferred and debt, 
 where we may issue capital for the benefit of shareholders to purchase and hold more SOL;              |

| · | staking the majority of the SOL in our treasury to earn a staking yield and turn the treasury into a productive 
 asset;                                                                                                          |

| · | purchasing SOL at a discount to the current spot price, including through over the counter transactions 
 and strategic partnerships;                                                                             |

| · | actively participating in DeFi protocols and other onchain strategies to increase SOL per share; and |

| · | selling our SOL holdings, whether on the open market, through block trades, or other negotiated transactions,                           
 for various reasons and at various times, including, in order to repurchase shares of our Common Stock when our Board of Directors (the 
 “Board”) believes such repurchases will result in accretive value creation for our shareholders and at such times when it               
 is legally permissible to do so.                                                                                                        |

| S-1 |

We believe that SOL is the
fastest and most used public blockchain in the world, processing more transactions and generating more on chain fee revenue than all other
blockchains combined. Solana has established itself as a high-performance blockchain and one of the most active onchain ecosystems, primarily
due to its differentiated approach to blockchain design, committed and growing developer community and strong social layer.

There can be no assurance
that the value of SOL will increase, and investors should carefully consider the risks associated with digital assets. See “Risk Factors -