If You Invested in Forwardly Inc (FORW)

Forwardly, Inc. (FORW) is a company in the finance and insurance sector, classified under all other insurance related activities. Its common stock trades on the OTC market under the symbol FORW. According to company shareholder updates, Forwardly is active in pursuing and managing investments and partnerships in areas that include medical technology, blockchain-related assets, and other enterprises it considers legitimate opportunities.

Forwardly has reported that it is a partial owner and partner of Ligand Innovation Global, Inc. ("Ligand" or "Ligand IG"), which is developing the LifeAir G1 Emergency Portable Ventilator, also known as the VitaCaeli Portable Ventilator. Forwardly has described its role in helping finance the development of iterations of this ventilator through the Ligand-Forwardly partnership. The ventilator project is aimed at providing portable devices that address the expense of conventional ventilator systems that require intubation and sedation of patients. Ligand has indicated that it expects these units to be suitable for use in settings such as hospitals, nursing homes, and other locations where emergency life‑saving equipment is needed.

In shareholder communications, Forwardly has highlighted that Ligand’s VitaCaeli G1 appears to be positioned for potential approvals by the food and drug authorities of Nigeria and Ghana, with the possibility of significant orders, while cautioning that such outcomes are speculative and may not occur. Earlier updates noted that the United States Food and Drug Administration (FDA) acknowledged receipt of Ligand’s application for Emergency Use Authorization for the LifeAir/VitaCaeli Portable Ventilator, and later that the FDA declined to grant emergency authorization because ventilators were no longer considered critical under emergency provisions, leading Ligand to focus on preparing a full application and exploring alternate jurisdictions.

Forwardly has also disclosed other activities and investments. It announced the purchase of BLOCKS tokens directly from Blocks DAO, LLC, using cash on hand, and stated an intention to hold that asset long term while considering additional investments in the blockchain industry. The company has described this as providing it with a foothold in the blockchain space, alongside a previously disclosed investment in HUMBL, Inc. Forwardly has further reported arranging non‑dilutive debt financing from its CEO in order to fund the exercise of HUMBL warrants and acquire HUMBL shares, with the stated intention not to dispose of those shares at depreciated values.

Shareholder updates have also referenced Forwardly’s involvement in providing seed capital to Worldwide NFT, Inc. (WNFT) through the purchase of a warrant to acquire WNFT shares, contingent on corporate actions at WNFT. The company has described WNFT as being in discussions or negotiations to acquire assets in the NFT and blockchain space. Forwardly has also reported issuing a fixed‑rate convertible loan to Maverick Energy Group, Inc. and later initiating litigation in Nevada to recover principal, interest, and attorney’s fees when that loan went into default, as well as noting that its CEO sought to recover damages related to a personal loan to Maverick.

In legal matters, Forwardly disclosed a complaint it filed in Seminole County, Florida against Emerging Elements, Inc., alleging that Emerging Elements received stock in Forwardly for no value received. Emerging Elements filed a counterclaim regarding alleged damages tied to a delay in stock delivery. Forwardly later reported that, on March 23, 2023, the court dismissed both the claim and counterclaim after the parties agreed to resolve their differences, and that no further comments would be provided.

Forwardly has communicated its intention to become a fully reporting company by preparing an S‑1 registration statement. It reported retaining Fruci & Associates, PS as its auditor to assist in the preparation of an S‑1 filing to register existing shares, with no new shares to be added to that filing. In a later update, the company stated that objections from the United States Securities and Exchange Commission (SEC) regarding its S‑1 filing under the 1934 Act led the SEC to request that Forwardly file under the 1940 Act instead. Forwardly reported that it elected to withdraw its S‑1 filing for the time being due to the work and expense associated with filing under the 1940 Act, and expressed an expectation that circumstances may change such that it could file under the 1934 Act at a later time. These statements were presented as shareholder guidance rather than completed regulatory outcomes.

Through these disclosures, Forwardly portrays itself as a company that allocates capital to ventures such as medical device development, blockchain tokens, warrants in other OTC‑traded entities, and loans to third parties. It has also stated that it continues to entertain additional partnerships with enterprises it considers legitimate. The company’s updates emphasize that many of these initiatives, particularly those involving regulatory approvals or potential acquisitions, are speculative and subject to uncertainty.

Business activities and partnerships

Based on its public updates, Forwardly’s activities include:

• Holding a partial ownership interest and partnership role in Ligand Innovation Global, Inc., which is developing the LifeAir G1/VitaCaeli portable ventilator and pursuing regulatory pathways in multiple jurisdictions.
• Financing aspects of Ligand’s ventilator development, including prototype production, external testing arrangements, and regulatory submissions.
• Purchasing BLOCKS tokens from Blocks DAO, LLC and indicating a long‑term holding approach to that blockchain asset.
• Holding and exercising warrants to acquire shares of HUMBL, Inc., funded in part through non‑dilutive debt financing.
• Agreeing to purchase a warrant from Worldwide NFT, Inc. that provides rights to acquire WNFT shares, in connection with WNFT’s focus on NFT and blockchain‑related assets.
• Extending a fixed‑rate convertible loan to Maverick Energy Group, Inc. and pursuing legal remedies after the loan went into default.

These activities, as described by the company, reflect a focus on investments and partnerships rather than traditional insurance underwriting operations, even though the industry classification provided is all other insurance related activities.

Regulatory and legal context

Forwardly’s communications underscore several regulatory and legal elements relevant to investors. The company has discussed its efforts to register existing shares through an S‑1 filing and the SEC’s feedback regarding the applicable regulatory act. It has also described the regulatory journey of its partially owned subsidiary Ligand in seeking Emergency Use Authorization and then full approval for its ventilator product, as well as patent‑related developments under the Patent Cooperation Treaty. In addition, Forwardly has disclosed litigation it initiated and later resolved or continues to pursue in connection with stock issuances and loan agreements.

Risk and speculative nature of activities

In its own statements, Forwardly repeatedly cautions that many of the potential outcomes described, such as regulatory approvals, large ventilator orders, or possible acquisitions, are speculative and may not occur. It has also indicated that discussions with acquisition targets can be at an early stage, without assurance that any agreement will be reached or what terms might apply. These disclaimers highlight the uncertainty inherent in the company’s activities as described in its news releases.

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