# EDGAR Filing Document

**Accession Number:** 0002086559
**File Stem:** 0001104659-25-091231
**Filing Date:** 2025-9
**Character Count:** 12137
**Document Hash:** b45816a471ed0c53e883951c4b1f9c7b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-091231.hdr.sgml**: 20250918

**ACCESSION NUMBER**: 0001104659-25-091231

**CONFORMED SUBMISSION TYPE**: 3/A

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250910

**FILED AS OF DATE**: 20250918

**DATE AS OF CHANGE**: 20250918

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Samani Pyahm
- **CENTRAL INDEX KEY:** 0001868197

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 3/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34780
- **FILM NUMBER:** 251323423

**MAIL ADDRESS:**
- **STREET 1:** C/O MULTICOIN ACQUISITION
- **STREET 2:** 501 WEST AVENUE, UNIT 3803
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78701
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Jain Tushar
- **CENTRAL INDEX KEY:** 0001868193

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 3/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34780
- **FILM NUMBER:** 251323422

**MAIL ADDRESS:**
- **STREET 1:** C/O MULTICOIN ACQUISITION
- **STREET 2:** 501 WEST AVENUE, UNIT 3803
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78701
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Multicoin Capital Master Fund, LP
- **CENTRAL INDEX KEY:** 0002086559

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231
- **LEGAL ENTITY IDENTIFIER:** 2549000UZPA1BXPASJ30

**FILING VALUES:**
- **FORM TYPE:** 3/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34780
- **FILM NUMBER:** 251323424

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** CO SERVICES CAYMAN LIMITED PAVILION EAST
- **STREET 2:** CRICKET SQUARE
- **CITY:** GRAND CAYMAN
- **PROVINCE COUNTRY:** E9
- **ZIP:** KY1-1001
- **BUSINESS PHONE:** 512-774-4000

**MAIL ADDRESS:**
- **STREET 1:** 501 WEST AVE., STE 3901
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78701
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Multicoin Capital Management, LLC
- **CENTRAL INDEX KEY:** 0002017172

**ORGANIZATION NAME:**
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 3/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-34780
- **FILM NUMBER:** 251323425

**BUSINESS ADDRESS:**
- **STREET 1:** 501 WEST AVE.
- **STREET 2:** SUITE 3901
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78701
- **BUSINESS PHONE:** 512-774-4000

**MAIL ADDRESS:**
- **STREET 1:** 501 WEST AVE.
- **STREET 2:** SUITE 3901
- **CITY:** AUSTIN
- **STATE:** TX
- **ZIP:** 78701
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Forward Industries, Inc.
- **CENTRAL INDEX KEY:** 0000038264
- **STANDARD INDUSTRIAL CLASSIFICATION:** PLASTICS PRODUCTS, NEC [3089]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 131950672
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 0930

**BUSINESS ADDRESS:**
- **STREET 1:** 700 VETERANS MEMORIAL HWY, SUITE 100
- **CITY:** HAUPPAUGE
- **STATE:** NY
- **ZIP:** 11788
- **BUSINESS PHONE:** 631-547-3055

**MAIL ADDRESS:**
- **STREET 1:** 700 VETERANS MEMORIAL HWY, SUITE 100
- **CITY:** HAUPPAUGE
- **STATE:** NY
- **ZIP:** 11788

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FORWARD INDUSTRIES INC
- **DATE OF NAME CHANGE:** 19950105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PROGRESS HEAT SEALING CO INC
- **DATE OF NAME CHANGE:** 19721111

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 3/A

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Multicoin Capital Management, LLC<br><sub>(Last) (First) (Middle)</sub><br>501 WEST AVENUE, SUITE 3901<br><sub>(Street)</sub><br>AUSTIN, TX 78701<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-09-10 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[ ] Officer (give title below) [X] Other (specify below)<br>_Director by deputization_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Forward Industries, Inc. [ FORD ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Multicoin Capital Master Fund, LP<br><sub>(Last) (First) (Middle)</sub><br>C/O SERVICES CAYMAN LIMITED, P.O. BOX<br>10008, PAVILION EAST, CRICKET SQUARE<br><sub>(Street)</sub><br>GRAND CAYMAN, E9 KY1-1001<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-09-10 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[ ] Officer (give title below) [X] Other (specify below)<br>_Director by deputization_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Forward Industries, Inc. [ FORD ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Samani Pyahm<br><sub>(Last) (First) (Middle)</sub><br>501 WEST AVENUE, SUITE 3901<br><sub>(Street)</sub><br>AUSTIN, TX 78701<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-09-10 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Forward Industries, Inc. [ FORD ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Jain Tushar<br><sub>(Last) (First) (Middle)</sub><br>501 WEST AVENUE, SUITE 3901<br><sub>(Street)</sub><br>AUSTIN, TX 78701<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2025-09-10 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[ ] Officer (give title below) [X] Other (specify below)<br>_Director by deputization_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Forward Industries, Inc. [ FORD ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

**Remarks:**
In addition to Multicoin Capital Management, LLC, a Texas limited liability company ("MCM LLC"), this Form 3 is being filed jointly by Multicoin Capital Master Fund, LP, a Cayman Islands limited partnership ("MCMF LP"), Pyahm Samani, a citizen of the United States of America ("Mr. Samani"), and Tushar Jain, a citizen of the United States of America ("Mr. Jain") (collectively, the "Reporting Persons"). MCM LLC is the investment advisor to MCMF LP. Mr. Samani and Mr. Jain each are a managing partner of MCM LLC. On September 6, 2025, the Issuer entered into a Securities Purchase Agreement with certain investors in a private investment in public equity investment, pursuant to which Mr. Samani was appointed a member of the board of directors of the Issuer, and as a result, each of the other Reporting Persons may be deemed directors by deputization for purposes of Section 16 of the Securities Exchange Act of 1934. No securities are beneficially owned by any of the Reporting Persons.

This amendment is being made solely for the purpose of including MCMF LP, Mr. Samani, and Mr. Jain as additional reporting persons to the Form 3 filed by MCM LLC on 9/12/2025 (the "Original Form"). Although MCMF LP, Mr. Samani, and Mr. Jain were disclosed in the Original Form, they were unable to be included as reporting persons because they did not have codes for the EDGAR system at the time. Other than including MCMF LP, Mr. Samani, and Mr. Jain as additional reporting persons, this form contains no amendment to the Original Form.

**Signature:** MULTICOIN CAPITAL MANAGEMENT, LLC, By: /s/ Pyahm Samani, Managing Partner  
**Date:** 2025-09-18

**Signature:** MULTICOIN CAPITAL MASTER FUND, LP, By: Multicoin Capital Fund GP I, LLC, its general partner, By: Multicoin Capital GP, LLC, its managing member, By: /s/ Pyahm Samani, manager  
**Date:** 2025-09-18

**Signature:** /s/ Pyahm Samani  
**Date:** 2025-09-18

**Signature:** /s/ Tushar Jain  
**Date:** 2025-09-18

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**