Company: FWDI
Filing Date: 2025-06-10
Form Type: S-3
Source: 0001683168-25-004375
Chunk: 10

Company: Forward Industries, Inc.
Filing Date: 2025-06-10
Form: S-3
Chunk 10
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 of calculating the conversion price and conversion period; |
| · | if appropriate, a discussion of federal income tax consequences applicable to the preferred stock; and                                                                                                                     |
| · | any other specific terms, preferences, rights, limitations or restrictions of the preferred stock.                                                                                                                         |

| 4 |

<div align='center'>DESCRIPTION OF WARRANTS</div>

We may issue warrants for
the purchase of common stock. Warrants may be issued independently or together with other securities and may be attached to or separate
from any offered securities. Each series of warrants will be issued under a separate warrant agreement. Set forth below is a brief summary
of the general terms and provisions of the warrants that we may issue from time to time. Additional terms of the warrants and the applicable
warrant agreement will be described in the applicable prospectus supplement.

The following descriptions,
and any description of the warrants included in a prospectus supplement, may not be complete and is subject to and qualified in its entirety
by reference to the terms and provisions of the applicable warrant agreement, which we will file with the Commission in connection with
any offering of warrants.

General

The prospectus supplement
relating to a particular issue of warrants will describe the terms of the warrants, including the following:

| · | the title of the warrants;                                                                                                                                                                       |
| · | the offering price of the warrants, if any;                                                                                                                                                      |
| · | the aggregate number of the warrants;                                                                                                                                                            |
| · | the terms of the security that may be purchased upon exercise of the warrants;                                                                                                                   |
| · | if applicable, the designation and terms of the securities that the warrants are issued with and the number of warrants issued with each security;                                               |
| · | if applicable, the date from and after which the warrants and any securities issued with the warrants will be separately transferable;                                                           |
| · | the dates on which the right to exercise the warrants commences and expires;                                                                                                                     |
| · | if applicable, the minimum or maximum amount of the warrants that may be exercised at any one time;                                                                                              |
| · | if applicable, a discussion of material United States federal income tax considerations;                                                                                                         |
| · | anti-dilution provisions of the warrants, including adjustments for stock splits, combinations, reclassifications, reorganizations, mergers, consolidations, sales of assets, or similar events; |
| · | redemption or call provisions, if any, applicable to the warrants; and                                                                                                                           |
| · | any additional