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<title>Form 8-K</title>


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<b><font size="5">UNITED STATES </font> </b></p>

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<font size="5">SECURITIES AND EXCHANGE COMMISSION </font> </b></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><b>Washington, D.C. 20549 </b></p>

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<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt'><font style="font-size: 7.5pt">&nbsp;</font></p>

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<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><b>FORM 8-K</b></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'>&nbsp;</p>

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<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%"
 style='border-collapse:collapse'>
 <tr style='page-break-inside:avoid'>
  <td width="100%" valign=top style='width:100.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b>CURRENT REPORT</b></p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b>Pursuant to Section 13 or 15(d) of the Securities
  Exchange Act of 1934</b></p>
  <h1 style='margin:0in;margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";color:black;font-weight:bold;'>&nbsp;</h1>
  <h1 style='margin:0in;margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";color:black;font-weight:bold;'>Date of report (Date of
  earliest event reported):<font style="font-size: 11.0pt">&nbsp; April 26,
  2013</font></h1>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><b>Forward Industries, Inc.</b></p>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'>(Exact Name of Registrant as Specified
  in Its Charter)</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>&nbsp;</p>
  </td>
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<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt'><font style="font-size: 7.5pt">&nbsp;</font></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt'><font style="font-size: 7.5pt">&nbsp;</font></p>

<div align=center>

<table class=MsoNormalTable border=0 cellpadding=0
 style='border-collapse:collapse' width="100%">
 <tr>
  <td width=202 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:30%;border-bottom:
  1.0pt solid windowtext;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><b><font style="font-size: 10.0pt">New York</font></b></p>
  </td>
  <td width=17 valign=top style='width:12.95pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><b><font style="font-size: 10.0pt">&nbsp;</font></b></p>
  </td>
  <td width=206 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:30%;border-bottom:1.0pt solid windowtext;
  padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><b><font style="font-size: 10.0pt">000-6669</font></b></p>
  </td>
  <td width=18 valign=top style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><b><font style="font-size: 10.0pt">&nbsp;</font></b></p>
  </td>
  <td width=202 valign=top style='border-left:medium none; border-right:medium none; border-top:medium none; width:30%;border-bottom:
  1.0pt solid windowtext;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><b><font style="font-size: 10.0pt">13-1950672</font></b></p>
  </td>
 </tr>
 <tr>
  <td width=202 valign=top style='width:30%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><font style="font-size: 7.5pt">(State or other Jurisdiction of Incorporation)</font></p>
  </td>
  <td width=17 valign=top style='width:12.95pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><font style="font-size: 7.5pt">&nbsp;</font></p>
  </td>
  <td width=206 valign=top style='width:30%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><font style="font-size: 7.5pt">(Commission File Number)</font></p>
  </td>
  <td width=18 valign=top style='width:13.45pt;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><font style="font-size: 7.5pt">&nbsp;</font></p>
  </td>
  <td width=202 valign=top style='width:30%;border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><font style="font-size: 7.5pt">(IRS Employer Identification No.)</font></p>
  </td>
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<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt'><font style="font-size: 7.5pt">&nbsp;</font></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt'><font style="font-size: 7.5pt">&nbsp;</font></p>

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  <td width=831 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><b><font style="font-size: 10.0pt">477 Rosemary Ave.&nbsp; Ste. 219</font></b></p>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><b><font style="font-size: 10.0pt">West Palm Beach, FL</font></b></p>
  </td>
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  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><b><font style="font-size: 10.0pt">&nbsp;</font></b></p>
  </td>
  <td valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; border-bottom:1.0pt solid windowtext; padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><b><font style="font-size: 10.0pt">33401</font></b></p>
  </td>
 </tr>
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  <td width=831 valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><font style="font-size: 7.5pt">(Address of Principal Executive Offices)</font></p>
  </td>
  <td valign=top style='padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><font style="font-size: 7.5pt">&nbsp;</font></p>
  </td>
  <td valign=top style='border:medium none;padding-left:5.4pt; padding-right:5.4pt; padding-top:0in; padding-bottom:0in'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><font style="font-size: 7.5pt">(Zip Code)</font></p>
  </td>
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<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt'><font style="font-size: 7.5pt">&nbsp;</font></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><font style="font-size: 10.0pt">&nbsp;</font></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><font style="font-size: 10.0pt">Registrant&#146;s telephone number, including area code: <b>(561)
465-0030</b></font></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><b><font style="font-size: 10.0pt">&nbsp;</font></b></p>

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  <td width=331 valign=top style='width:248.1pt;border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><b><font style="font-size: 10.0pt">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr>
  <td width=331 valign=top style='width:248.1pt;border:none;padding:0in 5.4pt 0in 5.4pt'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><font style="font-size: 7.5pt">(Former name or former address if changed since last
  report)</font></p>
  </td>
 </tr>
</table>

</div>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt;text-align:center'><b><font style="font-size: 10.0pt">&nbsp;</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-indent:.5in'><font style="font-size: 10.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 10.0pt">Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the follow provisions:</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><b><font style="font-size: 10.0pt">&nbsp;</font></b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 10.0pt">[&nbsp; ]&nbsp; Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 10.0pt">[&nbsp; ]&nbsp; Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 10.0pt">[&nbsp; ]&nbsp; Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><font style="font-size: 10.0pt">[&nbsp; ]&nbsp; Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 8.0pt">&nbsp;</font></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>

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</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 width=21 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
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  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">&nbsp;</font></p>
  </td>
 </tr>
</table>

</div>

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<p style='mso-style-name:DocID;margin-top:3.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;font-size:6.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:DocID;margin-top:3.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;font-size:6.0pt;font-family:"Times New Roman","serif";margin-top:0in'>&nbsp;</p>

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<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

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clear=all style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'><a name=toc></a>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='mso-style-name:"Left Bold Head";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:0in;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight:bold;margin-top:0in;margin-right:0in;margin-bottom:
0in;margin-left:1.0in;margin-bottom:.0001pt;text-indent:-1.0in'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:1.0in;text-align:justify;text-indent:-1.0in'><b>Item 1.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Entry
into a Material Definitive Agreement.</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>On April 26,
2013, the Board of Directors (the &#147;Board&#148;) of Forward Industries, Inc. (the
&#147;Company&#148;) authorized and declared a dividend distribution of one right (a
&#147;Right&#148;) for each outstanding share of the common stock, par value $0.01 per
share (the &#147;Common Shares&#148;), of the Company to shareholders of record at the
close of business on May 6, 2013 (the &#147;Record Date&#148;). Each Right entitles the
registered holder to purchase from the Company one one-thousandth of a share of
the Series A Participating Preferred Stock, par value $0.01 per share (the
&#147;Preferred Shares&#148;), of the Company at an exercise price of $4.00 per one
one-thousandth of a Preferred Share, subject to adjustment (the &#147;Exercise
Price&#148;). The complete terms of the Rights are set forth in a Rights Agreement
(the &#147;Rights Agreement&#148;), dated as of April 26, 2013, between the Company and American
Stock Transfer &amp; Trust Company, LLC, as rights agent. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>The Board
adopted the Rights Agreement to protect shareholders from coercive or otherwise
unfair takeover tactics. &nbsp;In general terms, it works by imposing a significant
penalty upon any person or group that acquires 20% or more of the Common Shares
without the approval of the Board. As a result, the overall effect of the
Rights Agreement and the issuance of the Rights may be to render more difficult
or discourage a merger, tender or exchange offer or other business combination
involving the Company that is not approved by the Board. However, neither the
Rights Agreement nor the Rights should interfere with any merger, tender or
exchange offer or other business combination approved by the Board. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>The following
is a summary of the terms of the Rights Agreement. The summary does not purport
to be complete and is qualified in its entirety by reference to the Rights
Agreement, a copy of which is attached as Exhibit 4.1 and incorporated herein
by reference. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'><i>Distribution and Transfer of
Rights; Rights Certificates </i></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>The Board has
declared a dividend of one Right for each outstanding Common Share. Prior to
the Distribution Date referred to below: </p>

<ul>
	<li>
	<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:0.25in;'>the Rights will be evidenced by and trade with the certificates for the
Common Shares (or, with respect to any uncertificated Common Shares registered
in book entry form, by notation in book entry), together with a copy of this
Summary of Rights, and no separate rights certificates will be distributed; </p>
	</li>
	<li>
	<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:0.25in;'>new Common Shares certificates issued after the Record Date will contain
a legend incorporating the Rights Agreement by reference (for uncertificated
Common Shares registered in book entry form, this legend will be contained in a
notation in book entry); and </p></li>
	<li>
	<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:0.25in;'>the surrender for transfer of any certificates for Common Shares (or the
surrender for transfer of any uncertificated Common Shares registered in book
entry form) will also constitute the transfer of the Rights associated with
such Common Shares. </p></li>
</ul>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>Rights will
accompany any new Common Shares that are issued after the Record Date. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>&nbsp;</p>

<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 width=21 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">&nbsp;</font></p>
  </td>
 </tr>
</table>

</div>

<br clear=ALL>

<p style='mso-style-name:DocID;margin-top:3.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;font-size:6.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:DocID;margin-top:3.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;font-size:6.0pt;font-family:"Times New Roman","serif";margin-top:0in'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><i>Distribution Date </i></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>Subject to
certain exceptions specified in the Rights Agreement, the Rights will separate
from the Common Shares and become exercisable following (i)&nbsp;the 10th
business day (or such later date as may be determined by the Board) after the
public announcement that an Acquiring Person has acquired beneficial ownership
of 20% or more of the Common Shares or (ii)&nbsp;the 10th business day (or such
later date as may be determined by the Board) after a person or group announces
a tender or exchange offer that would result in ownership by a person or group
of 20% or more of the Common Shares. For purposes of the Rights Agreement,
beneficial ownership is defined to include the ownership of derivative
securities. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>The date on
which the Rights separate from the Common Shares and become exercisable is
referred to as the &#147;Distribution Date.&#148; </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>After the
Distribution Date, the Company will mail Rights certificates to the Company&#146;s shareholders
as of the close of business on the Distribution Date and the Rights will become
transferable apart from the Common Shares. Thereafter, such Rights certificates
alone will represent the Rights. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'><i>Preferred Shares Purchasable
Upon Exercise of Rights </i></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>After the
Distribution Date, each Right will entitle the holder to purchase, for $4.00
(the &#147;Exercise Price&#148;), one one-thousandth of a Preferred Share having economic
and other terms similar to that of one Common Share. This portion of a
Preferred Share is intended to give the shareholder approximately the same
dividend, voting and liquidation rights as would one Common Share, and should
approximate the value of one Common Share. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>More
specifically, each one one-thousandth of a Preferred Share, if issued, will: </p>

<ul>
	<li>
	<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:0.25in;'>not be redeemable; </p></li>
	<li>
	<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:0.25in;'>entitle holders to quarterly dividend payments of $0.001 per share, or
an amount equal to the dividend paid on one Common Share, whichever is greater;
	</p></li>
	<li>
	<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:0.25in;'>entitle holders upon liquidation either to receive $1 per share or an
amount equal to the payment made on one Common Share, whichever is greater; </p>
	</li>
	<li>
	<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:0.25in;'>have the same voting power as one Common Share; and </p>
	</li>
	<li>
	<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:0.25in;'>entitle holders to a per share payment equal to the payment made on one
Common Share, if the Common Shares are exchanged via merger, consolidation or a
similar transaction. </p></li>
</ul>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'><i>Flip-In Trigger </i></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>If a person or
group of affiliated or associated persons (an &#147;Acquiring Person&#148;) obtains
beneficial ownership of 20% or more of the Common Shares, then each Right will
entitle the holder thereof to purchase, for the Exercise Price, a number of
Common Shares (or, in certain circumstances, cash, property or other securities
of the Company) having a then-current market value of twice the Exercise Price.
However, the Rights are not exercisable following the occurrence of the
foregoing event until such time as the Rights are no longer redeemable by the
Company, as further described below. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>Following the
occurrence of an event set forth in preceding paragraph, all Rights that are
or, under certain circumstances specified in the Rights Agreement, were
beneficially owned by an Acquiring Person or certain of its transferees will be
null and void. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;page-break-after:avoid'>&nbsp;</p>

<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 width=21 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">&nbsp;</font></p>
  </td>
 </tr>
</table>

</div>

<br clear=ALL>

<p style='mso-style-name:DocID;margin-top:3.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;font-size:6.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:DocID;margin-top:3.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;font-size:6.0pt;font-family:"Times New Roman","serif";margin-top:0in'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'><i>Flip-Over
Trigger </i></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>If, after an
Acquiring Person obtains 20% or more of the Common Shares, (i)&nbsp;the Company
merges into another entity, (ii)&nbsp;an acquiring entity merges into the
Company or (iii)&nbsp;the Company sells or transfers more than 50% of its
assets, cash flow or earning power, then each Right (except for Rights that
have previously been voided as set forth above) will entitle the holder thereof
to purchase, for the Exercise Price, a number of shares of common stock of the
person engaging in the transaction having a then-current market value of twice
the Exercise Price. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'><i>Redemption of the Rights </i></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>The Rights
will be redeemable at the Company&#146;s option for $0.001 per Right (payable in
cash, Common Shares or other consideration deemed appropriate by the Board) at
any time on or prior to the 10th business day (or such later date as may be
determined by the Board) after the public announcement that an Acquiring Person
has acquired beneficial ownership of 20% or more of the Common Shares.
Immediately upon the action of the Board ordering redemption, the Rights will
terminate and the only right of the holders of the Rights will be to receive
the $0.001 redemption price. The redemption price will be adjusted if the Company
undertakes a stock dividend or a stock split. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'><i>Exchange Provision </i></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>At any time
after the date on which an Acquiring Person beneficially owns 20% or more of
the Common Shares and prior to the acquisition by the Acquiring Person of 50%
of the Common Shares, the Board may exchange the Rights (except for Rights that
have previously been voided as set forth above), in whole or in part, for
Common Shares at an exchange ratio of one Common Share per Right (subject to
adjustment). In certain circumstances, the Company may elect to exchange the
Rights for cash or other securities of the Company having a value approximately
equal to one Common Share. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'><i>Expiration of the Rights </i></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>The Rights
expire on the earliest of (i)&nbsp;5:00 p.m., New York City time, on April 26,
2016 (unless such date is extended) or (ii)&nbsp;the redemption or exchange of
the Rights as described above. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'><i>Amendment of Terms of Rights
Agreement and Rights </i></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>The terms of
the Rights and the Rights Agreement may be amended in any respect without the
consent of the holders of the Rights on or prior to the Distribution Date.
Thereafter, the terms of the Rights and the Rights Agreement may be amended
without the consent of the holders of Rights in order to cure any ambiguities,
to shorten or lengthen any time period pursuant to the Rights Agreement or to
make changes that do not adversely affect the interests of holders of the
Rights. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'><i>Voting Rights; Other Shareholder
Rights </i></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>The Rights
will not have any voting rights. Until a Right is exercised, the holder
thereof, as such, will have no separate rights as a shareholder of the Company.
</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'><i>Anti-Dilution Provisions </i></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>The Board may
adjust the Exercise Price, the number of Preferred Shares issuable and the
number of outstanding Rights to prevent dilution that may occur from a stock
dividend, a stock split or a reclassification of the Preferred Shares or Common
Shares. </p>

<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 width=21 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">&nbsp;</font></p>
  </td>
 </tr>
</table>

</div>

<br clear=ALL>

<p style='mso-style-name:DocID;margin-top:3.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;font-size:6.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:DocID;margin-top:3.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;font-size:6.0pt;font-family:"Times New Roman","serif";margin-top:0in'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>With certain
exceptions, no adjustments to the Exercise Price will be made until the
cumulative adjustments amount to at least 1% of the Exercise Price. No fractional
Preferred Shares will be issued and, in lieu thereof, an adjustment in cash
will be made based on the current market price of the Preferred Shares. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'><i>Taxes </i></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>The
distribution of Rights should not be taxable for federal income tax purposes.
However, following an event that renders the Rights exercisable or upon
redemption of the Rights, shareholders may recognize taxable income. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:1.0in;text-align:justify;text-indent:-1.0in'><b>Item 3.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Material
Modification to Rights of Security Holders.</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>The
information included in Item&nbsp;1.01 of this Current Report on Form 8-K is
incorporated by reference into this Item&nbsp;3.03.</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:1.0in;text-align:justify;text-indent:-1.0in'><b>Item 5.03.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amendments
to Articles of Incorporation or Bylaws; Change in Fiscal Year.</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>In connection
with the adoption of the Rights Agreement, on April 26, 2013, the Company filed
a a Certificate of Amendment of the Certificate of Incorporation of the Company
(the &#147;Certificate of Amendment&#148;) with the Department of State of the State of
New York. The Certificate of Amendment sets forth the rights, powers and
preferences of the Preferred Shares. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>The summary of
the rights, powers and preferences of the Preferred Shares set forth in
Item&nbsp;1.01 of this Current Report on Form 8-K is incorporated by reference
into this Item&nbsp;5.03. A copy of the Certificate of Amendment is attached as
Exhibit 3.1 and incorporated herein by reference. </p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:1.0in;text-align:justify;text-indent:-1.0in'><b>Item 8.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other
Events.</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'>On April 26,
2013, the Company issued a press release announcing the adoption of the Rights
Agreement and the declaration of the dividend of the Rights. A copy of the
press release is attached as Exhibit 99.1 and incorporated herein by reference.
</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:1.0in;text-align:justify;text-indent:-1.0in'><b>Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other
Events.</b></p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt'>(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits.</p>

<table border="0" width="100%">
	<tr>
		<td valign="top" width="5%">3.1</td>
		<td width="95%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-bottom:12.0pt;
'>Certificate of
Amendment of the Certificate of Incorporation of Forward Industries, Inc., as
filed with the Department of State of the State of New York on April 26, 2013.</p>

		</td>
	</tr>
	<tr>
		<td valign="top" width="5%">4.1</td>
		<td width="95%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-bottom:12.0pt;
'>Rights Agreement,
dated as of April 26, 2013, by and between Forward Industries, Inc. and
American Stock Transfer &amp; Trust Company, LLC, as rights agent.</p>

		</td>
	</tr>
	<tr>
		<td valign="top" width="5%">99.1</td>
		<td width="95%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-bottom:12.0pt;
'>Press Release of Forward
Industries, Inc., dated April 26, 2013.</p>

		</td>
	</tr>
</table>

<div>

<table cellspacing=0 cellpadding=0 hspace=0 vspace=0 width=21 align=center>
 <tr>
  <td valign=top align=left style='padding-top:0in;padding-right:0in;
  padding-bottom:0in;padding-left:0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'><font style="font-size: 10.0pt">&nbsp;</font></p>
  </td>
 </tr>
</table>

</div>

<br clear=ALL>

<p style='mso-style-name:DocID;margin-top:3.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;font-size:6.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='mso-style-name:DocID;margin-top:3.0pt;margin-right:0in;margin-bottom:0in;margin-left:0in;margin-bottom:.0001pt;font-size:6.0pt;font-family:"Times New Roman","serif";margin-top:0in'>&nbsp;</p>

<div style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:center'>

<hr size=2 width="100%" noshade style='color:navy' align=center>

</div>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<br
clear=all style='page-break-before:always'>


<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:1.0pt'>&nbsp;</p>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;text-indent:.5in'><b>&nbsp;</b></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0in;margin-right:0in;margin-bottom:6.0pt;
margin-left:0in;text-align:center'><b>SIGNATURES</b></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.</p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman","serif";margin:0in;margin-bottom:.0001pt'>&nbsp;</p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%"
 style='width:100.0%;margin-left:.25in'>
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  <td style='padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Dated: April 26, 2013</p>
  </td>
  <td width="4%" valign=top style='width:4.48%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>By:&nbsp;&nbsp;</p>
  </td>
  <td width="51%" colspan=2 style='width:51.74%;padding:0in 0in 0in 0in'>
  <div style='border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";border:none;padding:0in'>FORWARD INDUSTRIES, INC.</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";border:none;padding:0in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";border:none;padding:0in'>&nbsp;</p>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";border:none;padding:0in'>&nbsp;&nbsp; /s/ Robert Garrett Jr.</p>
  </div>
  </td>
  <td width="1%" style='width:1.02%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td style='padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width="4%" style='width:4.48%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width="7%" valign=top style='width:7.28%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:&nbsp;&nbsp;</p>
  </td>
  <td width="44%" style='width:44.46%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Robert Garrett Jr.</p>
  </td>
  <td width="1%" style='width:1.02%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
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  <td style='padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width="4%" style='width:4.48%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
  <td width="7%" valign=top style='width:7.28%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:&nbsp;</p>
  </td>
  <td width="44%" style='width:44.46%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Chief Executive Officer</p>
  </td>
  <td width="1%" style='width:1.02%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>&nbsp;</p>
  </td>
 </tr>
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{"company-data": {"conformed-name": "FORWARD INDUSTRIES INC", "cik": "0000038264", "assigned-sic": "3089", "irs-number": "131950672", "state-of-incorporation": "NY", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-34780", "film-number": "13788085"}, "business-address": {"street1": "1801 GREEN ROAD", "street2": "SUITE E", "city": "POMPANO BEACH", "state": "FL", "zip": "33064", "phone": "9544199544"}, "mail-address": {"street1": "1801 GREEN RD", "street2": "SUITE E", "city": "POMPANO BEACH", "state": "FL", "zip": "33064"}, "former-company": {"former-conformed-name": "PROGRESS HEAT SEALING CO INC", "date-changed": "19721111"}}
Form 8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
  Exchange Act of 1934
Date of report (Date of
  earliest event reported):
April 26,
  2013
Forward Industries, Inc.
(Exact Name of Registrant as Specified
  in Its Charter)
New York
000-6669
13-1950672
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
477 Rosemary Ave.  Ste. 219
West Palm Beach, FL
33401
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code:
(561)
465-0030
(Former name or former address if changed since last
  report)
Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the follow provisions:
[  ]  Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[  ]  Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 1.01.       Entry
into a Material Definitive Agreement.
On April 26,
2013, the Board of Directors (the "Board") of Forward Industries, Inc. (the
"Company") authorized and declared a dividend distribution of one right (a
"Right") for each outstanding share of the common stock, par value $0.01 per
share (the "Common Shares"), of the Company to shareholders of record at the
close of business on May 6, 2013 (the "Record Date"). Each Right entitles the
registered holder to purchase from the Company one one-thousandth of a share of
the Series A Participating Preferred Stock, par value $0.01 per share (the
"Preferred Shares"), of the Company at an exercise price of $4.00 per one
one-thousandth of a Preferred Share, subject to adjustment (the "Exercise
Price"). The complete terms of the Rights are set forth in a Rights Agreement
(the "Rights Agreement"), dated as of April 26, 2013, between the Company and American
Stock Transfer & Trust Company, LLC, as rights agent.
The Board
adopted the Rights Agreement to protect shareholders from coercive or otherwise
unfair takeover tactics.  In general terms, it works by imposing a significant
penalty upon any person or group that acquires 20% or more of the Common Shares
without the approval of the Board. As a result, the overall effect of the
Rights Agreement and the issuance of the Rights may be to render more difficult
or discourage a merger, tender or exchange offer or other business combination
involving the Company that is not approved by the Board. However, neither the
Rights Agreement nor the Rights should interfere with any merger, tender or
exchange offer or other business combination approved by the Board.
The following
is a summary of the terms of the Rights Agreement. The summary does not purport
to be complete and is qualified in its entirety by reference to the Rights
Agreement, a copy of which is attached as Exhibit 4.1 and incorporated herein
by reference.
Distribution and Transfer of
Rights; Rights Certificates
The Board has
declared a dividend of one Right for each outstanding Common Share. Prior to
the Distribution Date referred to below:
the Rights will be evidenced by and trade with the certificates for the
Common Shares (or, with respect to any uncertificated Common Shares registered
in book entry form, by notation in book entry), together with a copy of this
Summary of Rights, and no separate rights certificates will be distributed;
new Common Shares certificates issued after the Record Date will contain
a legend incorporating the Rights Agreement by reference (for uncertificated
Common Shares registered in book entry form, this legend will be contained in a
notation in book entry); and
the surrender for transfer of any certificates for Common Shares (or the
surrender for transfer of any uncertificated Common Shares registered in book
entry form) will also constitute the transfer of the Rights associated with
such Common Shares.
Rights will
accompany any new Common Shares that are issued after the Record Date.
Distribution Date
Subject to
certain exceptions specified in the Rights Agreement, the Rights will separate
from the Common Shares and become exercisable following (i) the 10th
business day (or such later date as may be determined by the Board) after the
public announcement that an Acquiring Person has acquired beneficial ownership
of 20% or more of the Common Shares or (ii) the 10th business day (or such
later date as may be determined by the Board) after a person or group announces
a tender or exchange offer that would result in ownership by a person or group
of 20% or more of the Common Shares. For purposes of the Rights Agreement,
beneficial ownership is defined to include the ownership of derivative
securities.
The date on
which the Rights separate from the Common Shares and become exercisable is
referred to as the "Distribution Date."
After the
Distribution Date, the Company will mail Rights certificates to the Company's shareholders
as of the close of business on the Distribution Date and the Rights will become
transferable apart from the Common Shares. Thereafter, such Rights certificates
alone will represent the Rights.
Preferred Shares Purchasable
Upon Exercise of Rights
After the
Distribution Date, each Right will entitle the holder to purchase, for $4.00
(the "Exercise Price"), one one-thousandth of a Preferred Share having economic
and other terms similar to that of one Common Share. This portion of a
Preferred Share is intended to give the shareholder approximately the same
dividend, voting and liquidation rights as would one Common Share, and should
approximate the value of one Common Share.
More
specifically, each one one-thousandth of a Preferred Share, if issued, will:
not be redeemable;
entitle holders to quarterly dividend payments of $0.001 per share, or
an amount equal to the dividend paid on one Common Share, whichever is greater;
entitle holders upon liquidation either to receive $1 per share or an
amount equal to the payment made on one Common Share, whichever is greater;
have the same voting power as one Common Share; and
entitle holders to a per share payment equal to the payment made on one
Common Share, if the Common Shares are exchanged via merger, consolidation or a
similar transaction.
Flip-In Trigger
If a person or
group of affiliated or associated persons (an "Acquiring Person") obtains
beneficial ownership of 20% or more of the Common Shares, then each Right will
entitle the holder thereof to purchase, for the Exercise Price, a number of
Common Shares (or, in certain circumstances, cash, property or other securities
of the Company) having a then-current market value of twice the Exercise Price.
However, the Rights are not exercisable following the occurrence of the
foregoing event until such time as the Rights are no longer redeemable by the
Company, as further described below.
Following the
occurrence of an event set forth in preceding paragraph, all Rights that are
or, under certain circumstances specified in the Rights Agreement, were
beneficially owned by an Acquiring Person or certain of its transferees will be
null and void.
Flip-Over
Trigger
If, after an
Acquiring Person obtains 20% or more of the Common Shares, (i) the Company
merges into another entity, (ii) an acquiring entity merges into the
Company or (iii) the Company sells or transfers more than 50% of its
assets, cash flow or earning power, then each Right (except for Rights that
have previously been voided as set forth above) will entitle the holder thereof
to purchase, for the Exercise Price, a number of shares of common stock of the
person engaging in the transaction having a then-current market value of twice
the Exercise Price.
Redemption of the Rights
The Rights
will be redeemable at the Company's option for $0.001 per Right (payable in
cash, Common Shares or other consideration deemed appropriate by the Board) at
any time on or prior to the 10th business day (or such later date as may be
determined by the Board) after the public announcement that an Acquiring Person
has acquired beneficial ownership of 20% or more of the Common Shares.
Immediately upon the action of the Board ordering redemption, the Rights will
terminate and the only right of the holders of the Rights will be to receive
the $0.001 redemption price. The redemption price will be adjusted if the Company
undertakes a stock dividend or a stock split.
Exchange Provision
At any time
after the date on which an Acquiring Person beneficially owns 20% or more of
the Common Shares and prior to the acquisition by the Acquiring Person of 50%
of the Common Shares, the Board may exchange the Rights (except for Rights that
have previously been voided as set forth above), in whole or in part, for
Common Shares at an exchange ratio of one Common Share per Right (subject to
adjustment). In certain circumstances, the Company may elect to exchange the
Rights for cash or other securities of the Company having a value approximately
equal to one Common Share.
Expiration of the Rights
The Rights
expire on the earliest of (i) 5:00 p.m., New York City time, on April 26,
2016 (unless such date is extended) or (ii) the redemption or exchange of
the Rights as described above.
Amendment of Terms of Rights
Agreement and Rights
The terms of
the Rights and the Rights Agreement may be amended in any respect without the
consent of the holders of the Rights on or prior to the Distribution Date.
Thereafter, the terms of the Rights and the Rights Agreement may be amended
without the consent of the holders of Rights in order to cure any ambiguities,
to shorten or lengthen any time period pursuant to the Rights Agreement or to
make changes that do not adversely affect the interests of holders of the
Rights.
Voting Rights; Other Shareholder
Rights
The Rights
will not have any voting rights. Until a Right is exercised, the holder
thereof, as such, will have no separate rights as a shareholder of the Company.
Anti-Dilution Provisions
The Board may
adjust the Exercise Price, the number of Preferred Shares issuable and the
number of outstanding Rights to prevent dilution that may occur from a stock
dividend, a stock split or a reclassification of the Preferred Shares or Common
Shares.
With certain
exceptions, no adjustments to the Exercise Price will be made until the
cumulative adjustments amount to at least 1% of the Exercise Price. No fractional
Preferred Shares will be issued and, in lieu thereof, an adjustment in cash
will be made based on the current market price of the Preferred Shares.
Taxes
The
distribution of Rights should not be taxable for federal income tax purposes.
However, following an event that renders the Rights exercisable or upon
redemption of the Rights, shareholders may recognize taxable income.
Item 3.03.       Material
Modification to Rights of Security Holders.
The
information included in Item 1.01 of this Current Report on Form 8-K is
incorporated by reference into this Item 3.03.
Item 5.03.       Amendments
to Articles of Incorporation or Bylaws; Change in Fiscal Year.
In connection
with the adoption of the Rights Agreement, on April 26, 2013, the Company filed
a a Certificate of Amendment of the Certificate of Incorporation of the Company
(the "Certificate of Amendment") with the Department of State of the State of
New York. The Certificate of Amendment sets forth the rights, powers and
preferences of the Preferred Shares.
The summary of
the rights, powers and preferences of the Preferred Shares set forth in
Item 1.01 of this Current Report on Form 8-K is incorporated by reference
into this Item 5.03. A copy of the Certificate of Amendment is attached as
Exhibit 3.1 and incorporated herein by reference.
Item 8.01.       Other
Events.
On April 26,
2013, the Company issued a press release announcing the adoption of the Rights
Agreement and the declaration of the dividend of the Rights. A copy of the
press release is attached as Exhibit 99.1 and incorporated herein by reference.
Item 9.01.       Other
Events.
(d)       Exhibits.
3.1
Certificate of
Amendment of the Certificate of Incorporation of Forward Industries, Inc., as
filed with the Department of State of the State of New York on April 26, 2013.
4.1
Rights Agreement,
dated as of April 26, 2013, by and between Forward Industries, Inc. and
American Stock Transfer & Trust Company, LLC, as rights agent.
99.1
Press Release of Forward
Industries, Inc., dated April 26, 2013.
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
Dated: April 26, 2013
By:
FORWARD INDUSTRIES, INC.
/s/ Robert Garrett Jr.
Name:
Robert Garrett Jr.
Title:
Chief Executive Officer