Forwardly Inc (FORW)

[ARobinson]

In the case of FORW:

1. I believe the restricted shares are the only ones being registered. Specifically, ~138m of the ~144m restricted shares.

2. The S-1 says this: "Restricted shares may be sold in the public market only if registered". This mirrors what I read that if the restricted shares were released to the float, then the S-1 was approved (not marked EFFECT yet, just approved, because of the delaying statement).

3. The number of shares added to the float on 1/24/2024 are extremely close to the restricted shares... 141m versus 144m.

So it sure does look like restricted shares were added to the float on 1/24/2024 and therefore the S-1 was approved. I think what you are saying is that *unrestricted* shares were added to the float that day, and with a number that is close to what the S-1 is registering? I suppose that's possible too but that would be a huge coincidence.