- **Forward Industries Inc. (NASDAQ: FORD)** has engaged **IBN** to assist with its corporate communications strategy.  **[38264_67532b4cb0c8420b94f4839cbcbd285e_0]** 
- The company is building and managing a **Solana (SOL) treasury**, holding **over 6.87 million SOL** as of **October 15, 2025**, acquired at a net cost of **$232.08 per token**.  **[38264_67532b4cb0c8420b94f4839cbcbd285e_0]** 
- Forward Industries has **staked nearly all its SOL holdings**, with its institutional-grade validator achieving a **gross APY of 7.01%** and generating **over 1,000 SOL in daily staking revenue**.  **[38264_67532b4cb0c8420b94f4839cbcbd285e_0]** 
- The company initiated its Solana treasury strategy in **September 2025** and is tokenizing its common stock on the Solana blockchain through a partnership with Superstate.  **[38264_67532b4cb0c8420b94f4839cbcbd285e_0]** **[38264_67532b4cb0c8420b94f4839cbcbd285e_1]**

Forward Industries Engages IBN, Details Solana Treasury Strategy

- Forward Industries, Inc. (NASDAQ: FORD) has established a **Crypto Advisory Board** with **25 inaugural members** to provide strategic counsel for its **Solana-focused digital asset treasury strategy** and broader blockchain initiatives.  **[38264_11d7a0b5e9de4aff8825507a6e635b1a_0]** 
- The Advisory Board members bring significant experience in the Solana ecosystem, digital assets, capital markets, and financial services.  **[38264_11d7a0b5e9de4aff8825507a6e635b1a_0]** 
- The company, which initiated its Solana treasury strategy in **September 2025**, aims to grow **SOL per share** and leverage the Solana ecosystem.  **[38264_11d7a0b5e9de4aff8825507a6e635b1a_0]** **[38264_11d7a0b5e9de4aff8825507a6e635b1a_1]** 
- Forward Industries reaffirmed its leadership team, including Chairman **Kyle Samani**, who guides the company's vision as the leading Solana treasury company.  **[38264_11d7a0b5e9de4aff8825507a6e635b1a_1]**

Forward Industries Establishes Crypto Advisory Board

- Forward Industries entered into an agreement on **October 10, 2025**, to **extend the deadline by 30 days** for filing its initial resale registration statement with the SEC, citing **volatility in Solana and the broader digital asset market**.  **[38264_ab1cea05fc6343c6bfd05e4817811a4e_0]** 
- The company reaffirmed its **long-term conviction in Solana**, noting that the Solana network processed **over 66 million transactions** on October 10, 2025, surpassing **3,000 transactions per second** at points, while maintaining uninterrupted uptime and low transaction fees despite market volatility.  **[38264_ab1cea05fc6343c6bfd05e4817811a4e_0]** 
- Forward Industries remains committed to growing its Solana digital asset treasury strategy by **acquiring SOL tokens**, generating cash flow through staking and DeFi, and pursuing accretive partnerships and acquisitions within the Solana ecosystem.  **[38264_ab1cea05fc6343c6bfd05e4817811a4e_1]**

Forward Industries Extends Share Registration Deadline and Reaffirms Solana Strategy

- **Forward Industries** (NASDAQ: FORD) launched an **institutional-grade Solana validator node**, powered by **DoubleZero**, to advance Solana infrastructure.  **[38264_5b6af565161f4727a5dc2a39fb6f1f41_0]** 
- The validator offers **0% commission** for staking and is projected to be among the **top ten Solana validators globally** at launch.  **[38264_5b6af565161f4727a5dc2a39fb6f1f41_0]** 
- This launch is a key part of the company's **Solana treasury strategy**, initiated in **September 2025**, which focuses on acquiring SOL and increasing SOL-per-share.  **[38264_5b6af565161f4727a5dc2a39fb6f1f41_1]**

Forward Industries Launches Solana Validator

- On **September 16, 2025**, Forward Industries, Inc. entered into a **Controlled Equity Offering Sales Agreement** with Cantor Fitzgerald & Co..  **[38264_0001683168-25-007047_forward_i8k.htm:1]** 
- This agreement allows the company to offer and sell shares of its common stock, referred to as **ATM Shares**, with an aggregate sales price of up to **$4 billion**.  **[38264_0001683168-25-007047_forward_i8k.htm:1]** 
- Cantor Fitzgerald & Co. will act as principal and/or sales agent and will receive a commission of **3.0%** of the gross proceeds from each sale of ATM Shares.  **[38264_0001683168-25-007047_forward_i8k.htm:1]** 
- Sales of the ATM Shares will be made in transactions deemed **"at the market offerings"** and are pursuant to an automatic shelf registration statement on Form S-3 filed with the SEC on **September 17, 2025**.  **[38264_0001683168-25-007047_forward_i8k.htm:1]**

Forward Industries, Inc. enters into $4 billion "at the market" equity offering

- Forward Industries, Inc. completed the sale of its Original Equipment Manufacturer (OEM) segment in **May 2025**, classifying it as discontinued operations and resulting in the company having **only one reportable segment**.  **[38264_0001683168-25-007036_forward_i8k.htm:1]** **[38264_0001683168-25-007036_forward_i8k.htm:2]** 
- For the three months ended December 31, 2024, the company reported a **loss from continuing operations of $(898,000)**, an increase from $(365,000) in the prior year, with net revenues decreasing by **10.1%** to **$4,624,000**.  **[38264_0001683168-25-007036_forward_i8k.htm:54]** 
- In **December 2024**, the company's largest design customer notified them of the discontinuation of a key program, which is expected to cause a **material decrease in revenues beginning in Q2 Fiscal 2025**.  **[38264_0001683168-25-007036_forward_i8k.htm:16]** **[38264_0001683168-25-007036_forward_i8k.htm:38]** **[38264_0001683168-25-007036_forward_i8k.htm:55]** 
- Management believes existing cash and working capital will **not be sufficient to meet liquidity needs through December 31, 2025**, raising **substantial doubt about the company's ability to continue as a going concern**.  **[38264_0001683168-25-007036_forward_i8k.htm:16]** **[38264_0001683168-25-007036_forward_i8k.htm:38]** 
- To address Nasdaq's Stockholders' Equity Rule, the company converted **$225,000** of amounts due to Forward China into **225 shares of Series A-1 convertible preferred stock** on **February 11, 2025**.  **[38264_0001683168-25-007036_forward_i8k.htm:51]**

Forward Industries Completes OEM Segment Sale, Reports Q1 FY2025 Losses, and Raises Going Concern Doubt

- **Forward Industries (NASDAQ: FORD)** has launched its Solana treasury strategy, acquiring **6,822,000 SOL tokens** at an average price of **$232 per SOL**, totaling approximately **$1.58 billion**.  **[38264_00bce7cb96124c8285556a4d41995a1f_0]** 
- This initial investment utilized proceeds from a **$1.65 billion private investment in public equity (PIPE) financing** that closed on **September 11, 2025**.  **[38264_00bce7cb96124c8285556a4d41995a1f_0]** 
- The PIPE financing, led by Galaxy Digital, Jump Crypto, and Multicoin Capital, represents the **largest Solana-focused digital asset treasury raise to date**.  **[38264_00bce7cb96124c8285556a4d41995a1f_0]** 
- The company aims to build the world's largest Solana treasury, actively managing and **staking all acquired SOL** to increase SOL-per-share and deliver long-term shareholder value.  **[38264_00bce7cb96124c8285556a4d41995a1f_0]** **[38264_00bce7cb96124c8285556a4d41995a1f_1]**

Forward Industries Commences Solana Treasury Strategy

- Forward Industries, Inc. successfully closed a private placement, raising approximately **$1.65 billion** in gross proceeds.  **[38264_0001683168-25-006838_forward_ex9901.htm:1]** 
- The financing was led by **Galaxy Digital**, **Jump Crypto**, and **Multicoin Capital**, who collectively subscribed for over **$300 million**.  **[38264_0001683168-25-006838_forward_ex9901.htm:1]** 
- The company intends to use the net proceeds primarily to purchase **SOL** (Solana tokens) for its new cryptocurrency treasury operations.  **[38264_0001683168-25-006838_forward_ex9901.htm:1]** 
- Concurrent with the financing, Forward Industries entered into an Asset Management Agreement with **Galaxy Digital Capital Management LP** to manage its Treasury Assets, and a Services Agreement with **Galaxy Digital LP** for operational support.  **[38264_0001683168-25-006838_forward_ex1001.htm:0]** **[38264_0001683168-25-006838_forward_ex1002.htm:0]** **[38264_0001683168-25-006838_forward_8k.htm:1]** **[38264_0001683168-25-006838_forward_8k.htm:2]** 
- **Kyle Samani**, co-Founder and Managing Partner of Multicoin, was appointed Chairman of the Company's Board of Directors.  **[38264_0001683168-25-006838_forward_ex9901.htm:1]** **[38264_0001683168-25-006838_forward_8k.htm:4]**

Forward Industries Closes $1.65 Billion Private Placement for Solana Treasury Strategy

- **Forward Industries, Inc.** (NASDAQ: FORD) has successfully closed a private investment in public equity (PIPE) financing, resulting in gross proceeds of approximately **$1.65 billion**.  **[38264_0ba7cc00d9af4e0f9d07e71a06718886_0]** 
- The company intends to use the net proceeds primarily to purchase **SOL**, the native digital asset of the Solana blockchain, for working capital and to establish its cryptocurrency treasury operations.  **[38264_0ba7cc00d9af4e0f9d07e71a06718886_0]** 
- The PIPE financing was led by **Galaxy Digital**, **Jump Crypto**, and **Multicoin Capital**, with these firms collectively subscribing for more than **$300 million**.  **[38264_0ba7cc00d9af4e0f9d07e71a06718886_0]** 
- Concurrent with the PIPE closing, **Kyle Samani**, co-Founder and Managing Partner of Multicoin Capital, has been appointed **Chairman** of Forward Industries' Board of Directors.  **[38264_0ba7cc00d9af4e0f9d07e71a06718886_0]**  The company initiated its Solana treasury strategy in **September 2025**.  **[38264_0ba7cc00d9af4e0f9d07e71a06718886_2]**

Forward Industries (FORD)