Forwardly, Inc. Provides Shareholder Update
Forwardly Inc (OTCMKT: FORW) has provided key updates to shareholders.
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Rhea-AI Summary
Forwardly Inc (OTCMKT: FORW) has provided key updates to shareholders. The company has withdrawn its S-1 filing under the 1934 Act following SEC objections, which requested filing under the 1940 Act. The decision was made due to the additional workload and expenses associated with the 1940 Act filing requirements.
The company's partner, Ligand Innovation Global, reports that their VitaCaeli G1 portable ventilator is approaching FDA approval in Nigeria and Ghana. Potential large orders of thousands of units are expected following approval, possibly during Q2 2025. However, Forwardly emphasizes these developments remain speculative and may not materialize.
Positive
- Potential approval of VitaCaeli G1 ventilator in Nigeria and Ghana
- Expected large orders of thousands of ventilator units in Q2 2025
Negative
- S-1 filing withdrawal due to SEC regulatory complications
- Additional regulatory burden and expenses under 1940 Act requirements
- Speculative nature of ventilator approval and orders
Details
News Market Reaction – FORW
The recorded move for FORW in the trading session of this news was -8.06%.
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Henderson, NV and Toronto, ON, March 10, 2025 (GLOBE NEWSWIRE) -- George Sharp, CEO of Forwardly, Inc. (OTCMKT: FORW), provides the following updates to the company’s shareholders.
Due to the objections of the United States Securities and Exchange (“SEC”) regarding the company’s S-1 filing under the 1934 Act—the SEC has requested that Forwardly file under the 1940 Act—the company has elected to withdraw its S-1 filing for the time being. This is due to the burden of work and expense required to file under the 1940 Act. Forwardly expects that the circumstances under which the company is required to file under the 1940 Act may change during 2025, after which the company will be able to file under the 1934 Act.
Ligand Innovation Global, with whom Forwardly has partnered in the development of a portable ventilator, reports that its VitaCaeli G1 appears to be poised to be approved by the FDAs of Nigeria and Ghana with immediate large orders of thousands of units to follow. Ligand believes that this could be accomplished during the second quarter of 2025. However, as always, Forwardly cautions investors that the current situation is speculative and that these developments may not occur.
Forwardly continues to entertain additional partnerships with legitimate enterprises.
About Forwardly, Inc.
Forwardly is an opportunity investor seeking to partner in fresh ideas. The company is headed by George Sharp, a longtime whistleblower, advocate against microcap fraud, and defender of shareholder rights. In addition to his continued participation in these activities, Mr. Sharp consults to public companies, attorneys and those associated with the financial markets. He is also a former consultant to OTC Markets Group, Inc. Further information about Forwardly, Inc. can be obtained through its website at www.ForwardlyPlaced.com
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control.
CONTACT:
Forwardly, Inc.
3535 Executive Terminal Drive
Suite 110
Henderson, NV 89052
702-840-4433
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