Company: FWDI
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001683168-25-007923
Chunk: 55

Company: Forward Industries, Inc.
Filing Date: 2025-11-03
Form: 424B5
Chunk 55
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 could create an unintended and unforeseeable consequence that has adverse financial consequences, such
as the loss of or inability to access funds. There is no assurance that the smart contracts we integrate with or rely upon will function
as intended or remain secure. Exploitation of such vulnerabilities could have a material adverse effect on our business and financial
condition.

Part of our future business strategy may include acquisitions and investments in companies with Solana-focused or blockchain strategies, and there are risks associated with the integration of any assets or operations acquired and our ability to manage those risks. In addition, we may be unable to make attractive acquisitions or successfully integrate acquired businesses, assets or properties, and any inability to do so may disrupt our business and hinder our ability to grow.

We intend to pursue a strategy focused on both SOL
accumulation and future acquisitions. Accordingly, in the future we may make acquisitions of businesses or assets that we expect to complement
or expand our current assets. However, we may not be able to identify attractive acquisition opportunities in the future. Even if we do
identify attractive acquisition opportunities, we may not be able to complete the acquisition or do so on commercially acceptable terms.
No assurance can be given that we will be able to identify additional suitable acquisition opportunities, negotiate acceptable terms,
obtain financing for acquisitions on acceptable terms or successfully acquire identified targets.

| 16 |

The success of any acquisition will depend on our
ability to integrate effectively the acquired business or asset into our existing operations. The process of integrating acquired businesses
and assets may involve unforeseen difficulties and may require a disproportionate amount of our managerial and financial resources. The
integration of acquisitions is a complex, costly and time-consuming process, and our management may face significant challenges in such
process. Some of the factors affecting integration will be outside of our control, and any one of them could result in increased costs
and diversion of management’s time and energy, as well as decreases in the amount of expected revenue.

Our failure to achieve consolidation savings, to
incorporate the acquired businesses and assets into our existing operations successfully or to minimize any unforeseen operational difficulties
could have a material and adverse effect on our financial condition and results of operations.

Additional ability to achieve the objectives of our
business strategy depends in significant part on our ability to obtain equity and debt financing. If we are unable to obtain equity or
debt financing on favorable terms or at all, we may not be able to successfully execute on our business strategy.

Certain of the Sponsors and their affiliates have been,