Pressure is mounting on SkyAI ahead of its Sept. 18 annual meeting, as Bastion Trading and affiliated shareholders controlling a 9.99% stake, along with would-be acquirer Forward Industries, urge investors to oppose the reelection of all five directors. Bastion said it would vote "WITHHOLD ALL," citing bylaw changes it says weakened shareholder rights, a poison pill adopted without a shareholder vote and related-party transactions. Forward separately called for the same voting outcome and urged shareholders to reject SkyAI’s proposed 2026 equity incentive plan, which would authorize 5.145 million additional shares and dilute existing shareholders by more than 7%. SkyAI, formerly known as Sharps Technology, has pivoted toward what it calls "Agentic Finance for the Global South," combining stablecoin infrastructure with artificial intelligence. It holds 2,009,494 SOL, worth roughly $207 million, making it the fifth-largest publicly traded Solana treasury. Forward, the largest such treasury company, holds 7,013,536 SOL worth more than $722 million. Forward’s $1.55-per-share all-stock acquisition proposal, made in June at a 20% premium, was unanimously rejected by SkyAI’s board in July. Forward shares have since risen more than 50%, while SkyAI shares have remained broadly flat at $1.35. Forward also questioned related-party arrangements involving companies controlled by the brother of SkyAI CIO and director Alice Zhang, including warrants that SkyAI valued at more than $100 million. Forward said it remains open to a potential strategic transaction, while SkyAI had not immediately responded to The Block’s request for comment. Solana traded around $103, near its seven-month high of $110 reached two weeks earlier.