Company: FWDI
Filing Date: 2025-06-10
Form Type: PRE 14A
Source: 0001683168-25-004370
Chunk: 43

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: PRE 14A
Chunk 43
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 to the board of directors at an annual meeting must deliver detailed notice to the Company no earlier than the 120th calendar day, and no later than the 90th calendar day, prior to the anniversary date of the immediately preceding annual meeting. If the current year’s meeting is called for a date that is not within 30 days of the anniversary of the previous year’s annual meeting, such notice must be received no later than 10 calendar days following the day on which public announcement of the date of the annual meeting is first made. |
| · | The NRS and the Nevada Bylaws will require the affirmative vote of at least two-thirds of the voting power of the issued and outstanding stock of the Company entitled to vote in order to remove an incumbent director; and                                                                                                                                                                                                                                                                                                                                                                                                             |
| · | Our Nevada Articles of Incorporation will authorize                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
 “blank check” preferred stock with such rights, preferences, and privileges, including voting rights, as the Board may determine                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
 in compliance with Nevada law. Such preferred stock could be issued to affiliates or other persons whose interests align with incumbent                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
 management, subject to the Board’s fiduciary duties and applicable securities laws.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |

These provisions, together with
provisions of the NRS, could have the effect of delaying, deferring or preventing an attempted takeover or change of control of the Company,
or making such an attempt more difficult. Additionally, in most jurisdictions it remains unclear how a court would interpret and whether
it would enforce some of these provisions, resulting in added uncertainty. Section 22 of the Securities Act creates concurrent jurisdiction
for federal and state courts over all suits brought to enforce any duty or liability created by the Securities Act or the rules and regulations
thereunder. Investors cannot waive compliance with the federal securities laws and the rules and regulations thereunder, and that
there is uncertainty as to whether a state or federal court would enforce these charter provisions.

We believe that unsolicited takeover
attempts may be unfair or disadvantageous to us and our shareholders because, among other reasons:

| · | an uninvited acquirer may time its takeover bid to take advantage of temporarily depressed stock prices;                                                                                                                  |
| · | an uninvited acquirer may design its bid to preclude or minimize the possibility of more favorable competing bids or alternative transactions;                                                                            |
| · | an uninvited acquirer may acquire only a controlling interest in the corporation’s stock, without aff