根据本次合作协议，STSS 将把其 SOL 财库持仓中的一部分（目前持仓超过 200 万枚 SOL）委托给 Stakin by The Tie 进行质押。Stakin 运营覆盖 40 多个权益证明（Proof-of-Stake）网络的非托管验证节点 基础设施。此次委托将公开市场上规模最大的 Solana 财库策略之一，与生态系统中最成熟的机构级验 证节点运营方之一相结合，不仅增强了网络安全性，也进一步提升了机构参与 Solana 的运营可信度。 纽约 – 2026年2月25日 – Sharps Technology, Inc.（"STSS"或"公司"）（NASDAQ: STSS），一家采用 Solana 数字资产财库战略的医疗器械公司，与行业领先的机构级数字资产分析、合规通信与基础设施服 务提供商 The Tie, Inc.今日宣布达成战略合作，旨在加强 Solana 的机构基础设施建设，并扩大机构投资 者对该生态系统的参与。 The Tie 首席执行官 Joshua Frank 表示： "STSS 正在公开市场上打造最具代表性的 Solana 财库策略之 一，我们很高兴通过我们的验证节点基础设施和机构网络来 ...

Financial Data and Key Metrics Changes - Revenue in Q1 of fiscal 2026 increased more than four times to $21.4 million compared to $4.6 million in Q1 of fiscal 2025 [16] - Gross margin increased significantly to 78.6% in Q1 of fiscal 2026 from 24.5% in Q1 of fiscal 2025, primarily driven by staking revenue from the Solana treasury strategy [16] - Net loss for Q1 of fiscal 2026 was approximately $585.6 million, compared to a net loss of $0.7 million in Q1 of fiscal 2025, largely due to a decline in the fair value of SOL holdings [18] Business Line Data and Key Metrics Changes - Forward held approximately 6,962,501 Solana as of December 31, 2025, with over 99% staked, generating a staking yield between 6.5% and 7.2% [13] - Fully diluted SOL per share increased from 0.0604 at the end of September 2025 to 0.0624 as of December 31, 2025, representing a growth of roughly 13% in the fiscal first quarter [14] Market Data and Key Metrics Changes - Solana continues to lead in decentralized exchange trading volumes, active users, and developer engagement, demonstrating resilience and performance [6][7] - Institutional engagement has expanded significantly, with major financial institutions integrating Solana into their operations, such as WisdomTree launching regulated tokenized funds on Solana [7] Company Strategy and Development Direction - The company aims to build a permanent capital vehicle that participates directly in the growth of the Solana ecosystem, evolving beyond a treasury into an active value-generating business [5] - Forward Industries is focused on compounding SOL per share by engaging directly in economic activities on-chain rather than relying solely on passive exposure [6] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the volatility in the market but emphasizes that Solana is now being evaluated based on actual performance rather than theoretical scalability [6] - The company believes that the opportunity in front of Solana is increasingly clear, with significant growth in stablecoins, payments, and DeFi applications [7] Other Important Information - Forward became one of the first public companies to have its SEC-registered shares live on a public blockchain, allowing eligible non-US holders to use tokenized shares as collateral in DeFi [8][9] - The company launched fwdSOL, a proprietary liquid staking token, representing approximately 25% of its SOL holdings, allowing for efficient deployment of staked SOL [9][10] Q&A Session Summary Question: How has the company navigated recent token price volatility? - Management noted that SOL is down approximately 70% from its all-time high, which is typical in the crypto market, and emphasized maintaining a clean balance sheet to avoid risks faced by competitors [19][20] Question: What is the company's approach to potential M&A? - The company is looking for accretive acquisitions and is well-positioned to capitalize on opportunities due to its lack of institutional debt, allowing it to play offense in a dislocated market [23][24] Question: How should shareholders view SOL per share as a performance metric? - Management indicated that SOL per share growth is a key performance indicator, with a target to consistently generate returns greater than the staking yield [24] Question: What factors influence capital allocation decisions? - The company evaluates capital allocation based on market conditions, trading premiums or discounts, and the relative value of potential M&A opportunities [38][39] Question: How do staking yields trend with network usage? - Management clarified that increased validator participation does not impact yields for stakers, and as network activity grows, yields are expected to increase due to higher transaction fees [43][44]

Summary of Forward Industries Conference Call Company Overview - **Company**: Forward Industries (NasdaqCM:FORD) - **Focus**: Transition to Solana Digital Asset Treasury Company - **Date of Call**: December 02, 2025 Key Points Strategic Shift to Solana Digital Asset Treasury - Forward Industries has launched a Solana Digital Asset Treasury strategy, positioning itself as the largest Solana treasury company globally, backed by major crypto firms like Galaxy Digital, Jump Crypto, and Multicoin Capital [4][5][8] - The company aims to leverage Solana's ecosystem growth to drive long-term growth and increase SOL per share [4][8] Market Conditions and Financial Metrics - The crypto market has experienced volatility, with Solana trading down approximately 50% from its peak and Forward Industries down about 75% [6] - As of November 30, Forward's Market Net Asset Value (MNAV) was approximately 1.09, calculated using a SOL price of $133 and a total of 6,921,342 SOL tokens [6][33] - Forward holds no debt and has a strong balance sheet, with approximately $30 million in operating capital [17][18] Treasury Management and Yield Generation - Forward's treasury strategy includes acquiring SOL tokens, with over 6.8 million SOL acquired shortly after the strategy launch [10] - The company has launched a liquid staking token, FWD SOL, allowing for simultaneous staking and deployment in on-chain strategies, potentially yielding higher returns [12][22] - The validator infrastructure has generated net yields between 6.82% and 7.01% APY, outperforming top-tier validators [11] Institutional Partnerships and Ecosystem Engagement - Forward has established partnerships with key players in the Solana ecosystem, enhancing access to founders, infrastructure, and strategic opportunities [9][10] - The company is actively participating in decentralized finance (DeFi) and staking, aiming to outperform passive staking yields [11][12] Future Growth and Market Positioning - Forward Industries is focused on becoming a primary public market gateway to Solana and the broader internet capital markets [20] - The company has initiated a $1 billion share repurchase program to enhance shareholder value [13][17] - Forward is also working on tokenizing its equity on the Solana blockchain to expand its shareholder base globally [39][40] Regulatory Environment and Market Outlook - The company is optimistic about upcoming regulatory clarity in the U.S., which could positively impact the crypto market [25][26] - Despite recent price volatility, there is a strong belief in the long-term fundamentals of Solana, which continues to lead in transaction volume and user engagement [15][16] Conclusion - Forward Industries is strategically positioned to capitalize on the growth of the Solana ecosystem, with a focus on treasury management, yield generation, and expanding its market presence [20][45] - The company aims to leverage its unique position and partnerships to drive long-term shareholder value and participate actively in the evolving landscape of digital assets [20][45]