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<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Arial Unicode MS";margin:0in;margin-bottom:.0001pt'><font style="font-size: 7.5pt">&nbsp;</font></p>

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<font size="4">&nbsp;</font><font face="Times New Roman" size="4"><b>UNITED STATES</b></font></p>

<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="4">SECURITIES AND EXCHANGE
COMMISSION</font></b></p>

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

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

<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="5">FORM 8-K </font> </b></p>

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

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>CURRENT REPORT </b></p>

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

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>Pursuant to Section 13 OR 15(d) of </b></p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>The Securities Exchange Act of 1934 </b></p>

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

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>Date of Report (Date of
earliest event reported) </p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>December 9, 2008</b></p>

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

<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="6">Forward Industries, Inc.</font></b></p>

<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">(Exact name of registrant
as specified in its charter) </font> </b></p>

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

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

<div align=center>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="95%"
 style='width:95.0%'>
 <tr>
  <td width="34%" style='width:34.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td width="1%" valign=bottom style='width:1.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td width="32%" style='width:32.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td width="1%" valign=bottom style='width:1.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td width="32%" style='width:32.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td valign=top style='border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>New York</b></p>
  </td>
  <td valign=bottom style='padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
  </td>
  <td valign=bottom style='border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>000-6669</b></p>
  </td>
  <td valign=bottom style='padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
  </td>
  <td valign=bottom style='border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>13-1950672</b></p>
  </td>
 </tr>
 <tr>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="2">(State or Other
  Jurisdiction</font></b></p>
  <p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-top:0in;margin-right:0in;margin-bottom:.75pt;
  margin-left:0in;text-align:center'><b><font size="2">of Incorporation)</font></b></p>
  </td>
  <td valign=bottom style='padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">&nbsp;</font></p>
  </td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="2">(Commission</font></b></p>
  <p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-top:0in;margin-right:0in;margin-bottom:.75pt;
  margin-left:0in;text-align:center'><b><font size="2">File Number)</font></b></p>
  </td>
  <td valign=bottom style='padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">&nbsp;</font></p>
  </td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="2">(IRS Employer</font></b></p>
  <p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-top:0in;margin-right:0in;margin-bottom:.75pt;
  margin-left:0in;text-align:center'><b><font size="2">Identification No.)</font></b></p>
  </td>
 </tr>
</table>

</div>

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

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

<div align=center>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="75%"
 style='width:75.0%'>
 <tr>
  <td width="52%" style='width:52.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td width="1%" valign=bottom style='width:1.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
  <td width="47%" style='width:47.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td valign=top style='border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in'>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>1801 Green Road, Suite
  E</b></p>
  <p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:0in;margin-bottom:.75pt;
  margin-left:0in;text-align:center'><b>Pompano Beach, FL </b></p>
  </td>
  <td valign=bottom style='padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
  </td>
  <td valign=bottom style='border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>33064</b></p>
  </td>
 </tr>
 <tr>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="2">(Address of principal executive offices)</font></b></p>
  </td>
  <td valign=bottom style='padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">&nbsp;</font></p>
  </td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="2">(Zip&nbsp;Code)</font></b></p>
  </td>
 </tr>
</table>

</div>

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

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

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

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>(954) 419-9544 </b></p>

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

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

<div align=center>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="80%"
 style='width:80.0%'>
 <tr>
  <td width="100%" 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";'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td valign=top style='border:none;border-bottom:solid black 1.0pt;padding:
  0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td nowrap valign=top style='padding:0in 0in 0in 0in'>
  <p style='margin-bottom:.0001pt;font-family:"Times New Roman";text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="2">(Former name or former address, if changed since last
  report)</font></b></p>
  </td>
 </tr>
</table>

</div>

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

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>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 following provisions: </p>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Arial Unicode MS";margin:0in;margin-bottom:.0001pt'><font style="font-size: 7.5pt">&nbsp;</font></p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%"
 style='width:100.0%;border-collapse:collapse'>
 <tr>
  <td width="6%" valign=top style='width:6.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'><font face="Wingdings">&#111;</font></p>
  </td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'><font style="font-size: 10.0pt">Written communications
  pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </font></p>
  </td>
 </tr>
</table>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Arial Unicode MS";margin:0in;margin-bottom:.0001pt'><font style="font-size: 7.5pt">&nbsp;</font></p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%"
 style='width:100.0%;border-collapse:collapse'>
 <tr>
  <td width="6%" valign=top style='width:6.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'><font face="Wingdings">&#111;</font></p>
  </td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'><font style="font-size: 10.0pt">Soliciting material
  pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </font></p>
  </td>
 </tr>
</table>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Arial Unicode MS";margin:0in;margin-bottom:.0001pt'><font style="font-size: 7.5pt">&nbsp;</font></p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%"
 style='width:100.0%;border-collapse:collapse'>
 <tr>
  <td width="6%" valign=top style='width:6.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'><font face="Wingdings">&#111;</font></p>
  </td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'><font style="font-size: 10.0pt">Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
  240.14d-2(b)) </font></p>
  </td>
 </tr>
</table>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Arial Unicode MS";margin:0in;margin-bottom:.0001pt'><font style="font-size: 7.5pt">&nbsp;</font></p>

<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%"
 style='width:100.0%;border-collapse:collapse'>
 <tr>
  <td width="6%" valign=top style='width:6.0%;padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'><font face="Wingdings">&#111;</font></p>
  </td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'><font style="font-size: 10.0pt">Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c)) </font></p>
  </td>
 </tr>
</table>

</div>

<font face="Wingdings">
<p style="font-size: 12.0pt; font-family: Times New Roman; margin-left: 0in; margin-right: 0in; margin-top: 0in; margin-bottom: .0001pt">&nbsp;</p>
<hr color="#000080"><br clear=all
style='page-break-before:always'>
</font>

<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Arial Unicode MS";margin:0in;margin-bottom:.0001pt'>
<b>&nbsp;</b></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Arial Unicode MS";margin:0in;margin-bottom:.0001pt;text-indent:24.5pt'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b>Item 2.02 Results of
Operations and Financial Condition. </b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:
0in;text-indent:24.5pt'>On
Monday, December 15, 2008, the Company issued a press release announcing its
results of operations for the fiscal year ended September 30, 2008.&nbsp; A copy of
the press release is attached as Exhibit 99.1.</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:0in;margin-bottom:.25in;margin-left:0in;
text-indent:24.5pt'>More
complete information relating to results of operations is contained in the
Company&#146;s Annual Report on Form 10-K for the fiscal year ended September 30,
2008, filed with the Commission on December 16, 2008. </p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b>Item 5.02(E) DEPARTURE
OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN
OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS</b></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Arial Unicode MS";margin:0in;margin-bottom:.0001pt'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:
0in;text-indent:24.5pt'>On
Tuesday, December 9, 2008, the Compensation Committee of the Board of Directors
of Forward Industries, Inc. (the &quot;Company&quot;) approved the terms of
performance-based targets that will determine the amount, if any, of non-equity
incentive (bonus) compensation that can be earned in respect of the fiscal year
ending September 30, 2009 (&#147;Fiscal 2009&#148;), by the Company's Named Executive
Officers pursuant to their respective employment agreements.</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:
0in;text-indent:24.5pt'>Douglas
W. Sabra, President (chief executive officer) and Acting Chairman of the Board,
will be entitled to earn bonus compensation to the extent of 5% of operating
income (exclusive of &#147;other income (expense&#148;)), if any, recorded by the Company
in Fiscal 2009.&nbsp; James O. McKenna, Vice President and Chief Financial Officer,
will be entitled to earn bonus compensation to the extent of 2% of operating
income (exclusive of &#147;other income (expense&#148;)), if any, recorded by the Company
in Fiscal 2009.&nbsp; In addition, Messrs. Sabra and McKenna may be entitled to bonus
based on achievement of one or more of operational, financial, execution, or
other goals at the end of Fiscal 2009, in the discretion of the Committee.</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:
0in;text-indent:24.5pt'>On
Tuesday, December 9, 2008, the Compensation Committee of the Company also
determined to award Mr. Sabra and Mr. McKenna 15,000 shares and 6,000 shares,
respectively, of restricted stock pursuant to the Company&#146;s 2007 Equity
Incentive Plan. These awards shall vest in equal amounts over three years
commencing on the first anniversary of the grant date, which shall be the
second business day after release of&nbsp; results of operations for the fiscal year
ended September 30, 2008, and shall have a grant price per share as of the
close of trading on the grant date.&nbsp; Results of operations for Fiscal 2008 were
released on December 15, 2008.</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b>Item 5.02 DEPARTURE OF
DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN
OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS</b></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b>Item 8.01 OTHER EVENTS</b></p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Arial Unicode MS";margin:0in;margin-bottom:.0001pt'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;margin-left:
0in;text-indent:24.5pt'>On
Tuesday, December 9, 2008, the Compensation Committee of the Board of Directors
of the Company determined to reduce directors&#146; fees for participation in
telephonic meetings of the Board and Committees of the Board to $500.00 per
meeting from $2,000.00 per meeting, subject to certain exceptions for meetings
on specified matters as the Compensation Committee may, from time to time,
determine.</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b>Item 9.01. Financial
Statements and Exhibits. </b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>(d) Exhibits.</p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:1.0in;text-indent:-1.0in'>Exhibit
99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Press release issued on December 15, 2008</p>

<hr color="#000080"><br clear=all
style='page-break-before:always'>


<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b>SIGNATURES </b></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt;text-indent:24.5pt; margin-left:0in; margin-right:0in; margin-top:0in'>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-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>
<b>Forward Industries Inc.,</b></p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>
<b>&nbsp;</b></p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in'>
<b><font size="3">By</font></b><font size="3">:</font></p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>/s/ Douglas W. Sabra</p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>_______________________________________</p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in'>
<b><font size="3">Name </font></b><font size="3">Douglas
W. Sabra</font></p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in'>
<b><font size="3">Title:</font></b><font size="3"> Chief
Executive Officer</font></p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in'>
<b><font size="3">Dated:</font></b><font size="3"> December
16, 2008</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in'>&nbsp;</p>

<hr color="#000080"><font face="Times New Roman"><br clear=all
style='page-break-before:always'>


</font>
<p style='margin-right:0in;margin-left:0in;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
<b>EXHIBIT INDEX </b></p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in'>
<b><u><font size="3">Exhibit No.</font></u><font size="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Description</u></font></b></p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-family:"Times New Roman";margin-top:0in;margin-right:0in;margin-bottom:12.0pt;
margin-left:1.0in;text-indent:-1.0in'>Exhibit
99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Press release issued by the Company on December 15, 2008</p>

</body>

</html>
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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": "0908"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-06669", "film-number": "081251848"}, "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"}}
Prepared by E-Services - www.edgar2.com
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)
December 9, 2008
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.)
1801 Green Road, Suite
  E
Pompano Beach, FL
33064
(Address of principal executive offices)
(Zip Code)
Registrant's telephone
number, including area code
(954) 419-9544
(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 following provisions:
o
Written communications
  pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material
  pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
  240.14d-2(b))
o
Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c))
Item 2.02 Results of
Operations and Financial Condition.
On
Monday, December 15, 2008, the Company issued a press release announcing its
results of operations for the fiscal year ended September 30, 2008.  A copy of
the press release is attached as Exhibit 99.1.
More
complete information relating to results of operations is contained in the
Company's Annual Report on Form 10-K for the fiscal year ended September 30,
2008, filed with the Commission on December 16, 2008.
Item 5.02(E) DEPARTURE
OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN
OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On
Tuesday, December 9, 2008, the Compensation Committee of the Board of Directors
of Forward Industries, Inc. (the "Company") approved the terms of
performance-based targets that will determine the amount, if any, of non-equity
incentive (bonus) compensation that can be earned in respect of the fiscal year
ending September 30, 2009 ("Fiscal 2009"), by the Company's Named Executive
Officers pursuant to their respective employment agreements.
Douglas
W. Sabra, President (chief executive officer) and Acting Chairman of the Board,
will be entitled to earn bonus compensation to the extent of 5% of operating
income (exclusive of "other income (expense")), if any, recorded by the Company
in Fiscal 2009.  James O. McKenna, Vice President and Chief Financial Officer,
will be entitled to earn bonus compensation to the extent of 2% of operating
income (exclusive of "other income (expense")), if any, recorded by the Company
in Fiscal 2009.  In addition, Messrs. Sabra and McKenna may be entitled to bonus
based on achievement of one or more of operational, financial, execution, or
other goals at the end of Fiscal 2009, in the discretion of the Committee.
On
Tuesday, December 9, 2008, the Compensation Committee of the Company also
determined to award Mr. Sabra and Mr. McKenna 15,000 shares and 6,000 shares,
respectively, of restricted stock pursuant to the Company's 2007 Equity
Incentive Plan. These awards shall vest in equal amounts over three years
commencing on the first anniversary of the grant date, which shall be the
second business day after release of  results of operations for the fiscal year
ended September 30, 2008, and shall have a grant price per share as of the
close of trading on the grant date.  Results of operations for Fiscal 2008 were
released on December 15, 2008.
Item 5.02 DEPARTURE OF
DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN
OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
Item 8.01 OTHER EVENTS
On
Tuesday, December 9, 2008, the Compensation Committee of the Board of Directors
of the Company determined to reduce directors' fees for participation in
telephonic meetings of the Board and Committees of the Board to $500.00 per
meeting from $2,000.00 per meeting, subject to certain exceptions for meetings
on specified matters as the Compensation Committee may, from time to time,
determine.
Item 9.01. Financial
Statements and Exhibits.
(d) Exhibits.
Exhibit
99.1            Press release issued on December 15, 2008
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.
Forward Industries Inc.,
By
:
/s/ Douglas W. Sabra
_______________________________________
Name
Douglas
W. Sabra
Title:
Chief
Executive Officer
Dated:
December
16, 2008
EXHIBIT INDEX
Exhibit No.
Description
Exhibit
99.1            Press release issued by the Company on December 15, 2008