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<font style="font-size: 7.5pt">&nbsp;</font></p>
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<font style="font-size: 7.5pt">&nbsp;</font><font face="Times New Roman"><b>UNITED STATES</b></font></p>
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<b>SECURITIES AND EXCHANGE
COMMISSION</b></p>
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<b>Washington, D.C. 20549</b></p>
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<font style="font-size: 7.5pt">&nbsp;</font></p>
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<b><font size="5">FORM 8-K </font></b></p>
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<font style="font-size: 7.5pt">&nbsp;</font></p>
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<b>CURRENT REPORT </b></p>
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<font style="font-size: 7.5pt">&nbsp;</font></p>
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<b>Pursuant to Section 13 OR 15(d) of </b></p>
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<b>The Securities Exchange Act of 1934 </b></p>
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<font style="font-size: 7.5pt">&nbsp;&nbsp;</font></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>
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<b>May 2, 2008</b></p>
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<font style="font-size: 7.5pt">&nbsp;</font></p>
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<b><font size="5">Forward Industries, Inc.</font></b></p>
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<b><font size="1">(Exact name of registrant
as specified in its charter) </font></b></p>
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<font style="font-size: 7.5pt">&nbsp;</font></p>
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<font style="font-size: 7.5pt">&nbsp;</font></p>
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			<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>
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			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
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			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
			</td>
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			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
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			<b>New York</b></p></td>
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			<p style='margin-bottom:.0001pt;font-family:"Times New Roman"; margin-left:0in; margin-right:0in; margin-top:0in'>&nbsp;</p>
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  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>
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			<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>
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			<b><font size="1">(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="1">of Incorporation)</font></b></p>
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			<font style="font-size: 7.5pt">&nbsp;</font></p></td>
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			<b><font size="1">(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="1">File Number)</font></b></p>
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			<font style="font-size: 7.5pt">&nbsp;</font></p></td>
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			<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="1">(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="1">Identification No.)</font></b></p>
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<font style="font-size: 7.5pt">&nbsp;</font></p>
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<font style="font-size: 7.5pt">&nbsp;</font></p>
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			<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>
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  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>
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			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>
			<font style="font-size: 7.5pt">&nbsp;</font></p></td>
			<td valign=bottom 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";text-align:center'>
			<b><font style="font-size: 10.0pt">33064</font></b></p></td>
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			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
			<b><font style="font-size: 7.5pt">(Address of principal executive offices)</font></b></p>
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			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>
			<font style="font-size: 7.5pt">&nbsp;</font></p></td>
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			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
			<b><font style="font-size: 7.5pt">(Zip&nbsp;Code)</font></b></p>
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<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'>
<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";margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<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";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>
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<font style="font-size: 7.5pt">&nbsp;</font></p>
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<font style="font-size: 7.5pt">&nbsp;</font></p>
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			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>&nbsp;</p>
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			<td valign=top style='border:none;border-bottom:solid black 1.0pt;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: 7.5pt">&nbsp;</font></p></td>
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			<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";text-align:center'>
			<b><font style="font-size: 7.5pt">(Former name or former address, if changed since last
  report)</font></b></p></td>
		</tr>
	</table></div>
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<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";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>
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		<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>
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 style='width:100.0%;border-collapse:collapse'>
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		<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>
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		<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>

<font face="Wingdings"><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-family:"Times New Roman";margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'><b>
<font size="2">ITEM 2.02 RESULTS OF
OPERATIONS AND FINANCIAL CONDITION. </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'>
<font size="2">&nbsp;</font></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-indent:24.5pt; margin-left:0in; margin-right:0in; margin-top:0in' align="justify">
<font size="2">On Friday, May 2, 2008,
the Company issued a press release announcing its results of operations for the
second fiscal quarter ended March 31, 2008.&nbsp; A copy of the press release is
attached as Exhibit 99.1.</font></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-family:"Times New Roman";margin-bottom:.0001pt;text-indent:24.5pt; margin-left:0in; margin-right:0in; margin-top:0in' align="justify">
<font size="2">More complete
information relating to results of operations for the second fiscal quarter is
contained in the Company&#146;s Quarterly Report on Form 10-Q for the three months
ended March 31, 2008, filed with the Commission on May 2, 2008.&nbsp; </font>
</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-family:"Times New Roman";margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">ITEM 5.02(B); ITEM 5.03:&nbsp; DEATH OF DIRECTOR;
AMENDMENT OF BY-LAWS</font></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-family:"Times New Roman";margin-bottom:.0001pt;text-indent:24.5pt; margin-left:0in; margin-right:0in; margin-top:0in' align="justify">
<font size="2">As reported in a Form
8-K Current Report filed with the Commission on April 24, 2008, Jerome E. Ball
passed away April 22, 2008.&nbsp; The following disclosures (also appearing in Item
5 of Part II, &#147;Other Information&#148;, of the Company&#146;s Quarterly Report on Form
10-Q for the three months ended March 31, 2008) update the disclosures made in
the referenced Form 8-K.</font></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:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:12.0pt;text-align:justify'>
<font style="font-size: 10.0pt">In addition to the termination benefit of $100,000
payable to Mr. Ball&#146;s estate under the Consulting Agreement under which he was
serving, pursuant to this Agreement Mr. Ball&#146;s election as director and
appointment as Chairman of the Board in February 2008 entitled him to $25,000
per annum, payable in monthly installments.&nbsp; Monthly payments of
approximately $2,100 from February through April 2008 aggregating $6,250 were
made to Mr. Ball.&nbsp; No further payments are due and owing to his estate
under this part of the Agreement.&nbsp; </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:12.0pt;text-align:justify'>
<font style="font-size: 10.0pt">Unexercised stock options to purchase 10,000 shares of
common stock granted to Mr. Ball pursuant to the 2007 Equity Incentive Plan in
February 2008 were subject to a vesting period of one year. The Compensation
Committee in recognition of Mr. Ball&#146;s nearly ten years of service as Chairman
and CEO, on May 1, 2008, determined that such options shall vest in order to
permit Mr. Ball&#146;s estate to exercise the options within a one year period if in
the interest of the estate to do so. </font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";margin-bottom:12.0pt;text-align:justify'>
<font style="font-size: 10.0pt">The Company&#146;s Nominating and Governance Committee met
on May 1, 2008, and determined not to fill the vacancy on the Board of
Directors resulting from Mr. Ball&#146;s death and approved a resolution to reduce
the size of the Company&#146;s Board to six directors from seven. In addition, the
Board of Directors approved the Committee&#146;s nomination of Douglas W. Sabra, the
Company&#146;s Chief Executive Officer, as Acting Chairman of the Board.</font></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-family:"Times New Roman";margin-bottom:.0001pt; margin-left:0in; margin-right:0in; margin-top:0in'>
<b><font size="2">ITEM
9.01. FINANCIAL STATEMENTS AND EXHIBITS. </font> </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'>
<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";'>
<font style="font-size: 10.0pt">(c) Exhibits.</font></p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman";'>
<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";margin-left:1.0in;text-indent:-1.0in'>
<font style="font-size: 10.0pt">Exhibit 99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Press release issued on May 2,
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'>
<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";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-bottom:.0001pt;font-size:10pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in' align="center">
-1-</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'>
<font style="font-size: 10.0pt">&nbsp;</font></p>

<hr color="#000080"><font face="Times New Roman" size="2"><br clear=all
style='page-break-before:always'>


</font>
<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">SIGNATURES </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'>
<font size="2">&nbsp;</font></p>
<p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman";margin-bottom:.0001pt;text-indent:24.5pt; margin-left:0in; margin-right:0in; margin-top:0in' align="justify">
<font size="2">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. </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'>
<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";margin-left:1.0in;text-indent:-1.0in'>
<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";margin-left:1.0in;text-indent:-1.0in'>
<b><font style="font-size: 10.0pt">Forward Industries Inc.,</font></b></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 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";margin-left:1.0in;text-indent:-1.0in'>
<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";margin-left:1.0in;text-indent:-1.0in'>
<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";margin-left:1.0in;text-indent:-1.0in'>
<b><font style="font-size: 10.0pt">By</font></b><font style="font-size: 10.0pt">:</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'>
<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";margin-left:1.0in;text-indent:-1.0in'>
<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";margin-left:1.0in;text-indent:-1.0in'>
<font style="font-size: 10.0pt">/s/ Douglas W. Sabra</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'>
<font style="font-size: 10.0pt">_______________________________________</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'>
<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";margin-left:1.0in;text-indent:-1.0in'>
<b><font style="font-size: 10.0pt">Name </font></b>
<font style="font-size: 10.0pt">Douglas
W. Sabra</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'>
<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";margin-left:1.0in;text-indent:-1.0in'>
<b><font style="font-size: 10.0pt">Title:</font></b><font style="font-size: 10.0pt"> Chief
Executive Officer</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'>
<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";margin-left:1.0in;text-indent:-1.0in'>
<b><font style="font-size: 10.0pt">Dated:</font></b><font style="font-size: 10.0pt"> May 5,
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-bottom:.0001pt;font-size:10pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in' align="center">
-2-</p>

<hr color="#000080"><font face="Times New Roman" size="2"><br clear=all
style='page-break-before:always'>


</font>
<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">EXHIBIT INDEX </font></b></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'>
<b><u><font style="font-size: 10.0pt">Exhibit No.</font></u><font style="font-size: 10.0pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<u>Description</u></font></b></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'>
<font style="font-size: 10.0pt">Exhibit 99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Press release issued by the Company
on May 2, 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>
<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-bottom:.0001pt;font-size:10pt;font-family:"Times New Roman";margin-left:1.0in;text-indent:-1.0in; margin-right:0in; margin-top:0in' align="center">
-3-</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": "08802180"}, "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)
May 2, 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 Friday, May 2, 2008,
the Company issued a press release announcing its results of operations for the
second fiscal quarter ended March 31, 2008.  A copy of the press release is
attached as Exhibit 99.1.
More complete
information relating to results of operations for the second fiscal quarter is
contained in the Company's Quarterly Report on Form 10-Q for the three months
ended March 31, 2008, filed with the Commission on May 2, 2008.
ITEM 5.02(B); ITEM 5.03:  DEATH OF DIRECTOR;
AMENDMENT OF BY-LAWS
As reported in a Form
8-K Current Report filed with the Commission on April 24, 2008, Jerome E. Ball
passed away April 22, 2008.  The following disclosures (also appearing in Item
5 of Part II, "Other Information", of the Company's Quarterly Report on Form
10-Q for the three months ended March 31, 2008) update the disclosures made in
the referenced Form 8-K.
In addition to the termination benefit of $100,000
payable to Mr. Ball's estate under the Consulting Agreement under which he was
serving, pursuant to this Agreement Mr. Ball's election as director and
appointment as Chairman of the Board in February 2008 entitled him to $25,000
per annum, payable in monthly installments.  Monthly payments of
approximately $2,100 from February through April 2008 aggregating $6,250 were
made to Mr. Ball.  No further payments are due and owing to his estate
under this part of the Agreement.
Unexercised stock options to purchase 10,000 shares of
common stock granted to Mr. Ball pursuant to the 2007 Equity Incentive Plan in
February 2008 were subject to a vesting period of one year. The Compensation
Committee in recognition of Mr. Ball's nearly ten years of service as Chairman
and CEO, on May 1, 2008, determined that such options shall vest in order to
permit Mr. Ball's estate to exercise the options within a one year period if in
the interest of the estate to do so.
The Company's Nominating and Governance Committee met
on May 1, 2008, and determined not to fill the vacancy on the Board of
Directors resulting from Mr. Ball's death and approved a resolution to reduce
the size of the Company's Board to six directors from seven. In addition, the
Board of Directors approved the Committee's nomination of Douglas W. Sabra, the
Company's Chief Executive Officer, as Acting Chairman of the Board.
ITEM
9.01. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
Exhibit 99.1            Press release issued on May 2,
2008
-1-
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:
May 5,
2008
-2-
EXHIBIT INDEX
Exhibit No.
Description
Exhibit 99.1            Press release issued by the Company
on May 2, 2008
-3-