According to Lookonchain, there are six strategic SOL reserve entities with holdings above 1 million SOL (source: Lookonchain). Forward Industries holds 6,822,000 SOL with a reported average purchase cost of $232 per SOL, implying a cost-basis value of about $1.58 billion (source: Lookonchain). The $232 average cost defines Forward Industries' breakeven per SOL for position-level PnL tracking by traders (source: Lookonchain). The concentration of six entities each above 1 million SOL highlights whale exposure that market participants monitor for liquidity and flow risk in Solana markets (source: Lookonchain).