Company: FWDI
Filing Date: 2025-06-20
Form Type: DEF 14A
Source: 0001683168-25-004653
Chunk: 79

Company: Forward Industries, Inc.
Filing Date: 2025-06-20
Form: DEF 14A
Chunk 79
---
 the registered office within the State of Nevada. The Corporation may also maintain an
office or offices for the conduct of its business, either within or without the State of Nevada.

<div align='center'>ARTICLE III

CAPITAL STOCK</div>

Section 1. Authorized Shares.The aggregate number of shares which the Corporation shall have authority to issue is 44,000,000 shares, consisting of two classes
to be designated, respectively, “Common Stock” and “Preferred Stock,” with all of such shares having a par value
of $0.01 per share. The total number of shares of Common Stock that the Corporation shall have authority to issue is 40,000,000 shares.
The total number of shares of Preferred Stock that the Corporation shall have authority to issue is 4,000,000 shares. The Preferred Stock
may be issued in one or more series, each series to be appropriately designated by a distinguishing letter or title, prior to the issuance
of any shares thereof. The voting powers, designations, preferences, limitations, restrictions, and relative, participating, optional
and other rights, and the qualifications, limitations, or restrictions thereof, of the Preferred Stock shall hereinafter be prescribed
by resolution of the board of directors pursuant to Section 3 of this Article III.

Section 2. Common Stock.(a) Dividend Rate.Subject to the rights of holders of any Preferred Stock having preference as to dividends and except as
otherwise provided by these Articles of Incorporation, as amended from time to time (the “Articles”) or the Nevada
Revised Statues (the “NRS”), the holders of Common Stock shall be entitled to receive dividends when, as and if declared
by the board of directors out of assets legally available therefor.

(b) Voting Rights.Except
as otherwise provided by the NRS, the holders of the issued and outstanding shares of Common Stock shall be entitled to one vote for each
share of Common Stock. No holder of shares of Common Stock shall have the right to cumulate votes.

| B-1 |

(c) Liquidation Rights.In the event of liquidation, dissolution, or winding up of the affairs of the Corporation, whether voluntary or involuntary, subject
to the prior rights of holders of Preferred Stock to share ratably in the Corporation’s assets, the Common Stock and any shares
of Preferred Stock which are not entitled to any preference in liquidation shall share equally and ratably in the Corporation’s
assets available for distribution after giving effect to