Forward Industries affirms confidence in Solana, extends deadline for resale registration

[Solana gold cryptocurrencies stacked with a vibrant digital background]
Alvaro Fernandez Echeverria/iStock Editorial via Getty Images

Shares of Forward Industries (NASDAQ:FORD [https://seekingalpha.com/symbol/FORD]) issued a statement [https://seekingalpha.com/pr/20263111-forward-industries-provides-strategic-update-on-market-volatility-and-share-registration]reaffirming its long-term conviction in Solana despite a 20% slide in the digital asset on Friday.

Shares are up 19% in tandem with a 14% rebound in Solana (SOL) over the weekend.

Accordingly, the company has provided an extension to file the initial resale registration with the U.S. Securities and Exchange Commission by 30 days. The company requested this extension in response to overall market conditions, including volatility in Solana and the broader digital asset market.

By extending the filing, the company seeks an orderly process for share registration and preserve value for shareholders.

“We remain fully committed to our Solana strategy and believe this brief procedural extension positions the company to register shares under more constructive market conditions while continuing to execute our long-term plan,” the company said in a statement.

Despite a dramatic drawdown on Friday tied to geopolitical events that shook financial markets, the Solana network processed 3,000 transactions per second while still maintaining uninterrupted uptime and low transaction fees at a much faster rate and with lower transaction fees than comparable networks. This gives Forward Industries (NASDAQ:FORD [https://seekingalpha.com/symbol/FORD]) confidence in Solana and to continue its objective of growing and scaling its Solana digital asset treasury strategy.

MORE ON FORWARD INDUSTRIES

* Forward Industries: Assessing The Biggest Solana Digital Asset Treasury [https://seekingalpha.com/article/4823587-forward-industries-assessing-the-biggest-solana-digital-asset-treasury]
* Forward Industries secures $1.65B to launch Solana treasury strategy [https://seekingalpha.com/news/4492953-forward-industries-secures-165b-to-launch-solana-treasury-strategy]
* Financial information for Forward Industries [https://seekingalpha.com/symbol/FORD/income-statement]