Forwardly Inc (FORW)

[ARobinson]

They used a delaying statement (see below). This might mean that even after approved, they can delay the effective date until ready. I am not an expert, but from what I've read, the shares could not have been added to the float unless the S-1 was approved (shares were added to the float on 1/24/2024). What you say is correct but it looks like there is a loophole where the S-1 can be approved, but whether or not it is marked effective (and thus filed as such) is up to FORW management

"This registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the commission, acting pursuant to said Section 8(a), may determine."