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<title>8-K</title>


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<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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<font size="5">FORM 8-K</font></b></p>

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  <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>
  <p style='margin-bottom:.0001pt;text-align:center;page-break-after:avoid;font-size:12.0pt;font-family:"Times New Roman","serif";color:black;margin-left:0in; margin-right:0in; margin-top:0in'>
	Date of report (Date of
  earliest event reported):<font style="font-size: 11.0pt">&nbsp; </font>
	<font style="font-size: 11.0pt; font-weight:700">
	June 28, 2013</font></p>
  <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-family:"Times New Roman","serif";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'><b>
	<font size="5">Forward Industries, Inc.</font></b></p>
  <p style='margin-right:0in;margin-left:0in;font-family:"Times New Roman","serif";margin-bottom:.0001pt;text-align:center; margin-left:0in; margin-right:0in; margin-top:0in'>
	<font size="2">(Exact Name of Registrant as Specified
  in Its Charter)</font></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>

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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">New York</font></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;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:5%;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">&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>
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  <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:5%;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 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>
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  <td width=18 valign=top style='width:5%;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 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>
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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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  <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>
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  <td width=16 valign=bottom style='width:5%;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">&nbsp;</font></b></p>
  </td>
  <td width=316 valign=bottom style='border-left:medium none; border-right:medium none; border-top:medium none; width:47%;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>
 <tr>
  <td width=303 valign=top style='width:47%;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 width=16 valign=top style='width:5%;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 width=316 valign=top style='width:47%;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>
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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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  <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 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">(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";'>&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";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";'>

<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>

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


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</div>

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<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 June 28, 2013, Forward Industries, Inc. (the &#147;Company&#148;) completed the sale of
381,644 shares
of its newly authorized 6% Senior Convertible Preferred Stock, par value$0.01
per share (the &#147;Convertible Preferred Stock&#148;) and (ii) warrants to purchase a
total of 381,644 shares of the Company&#146;s common stock, par value $0.01 per
share (&#147;Common Stock&#148;) (the &#147;Warrants&#148; and together with the Convertible Preferred
Stock, the &#147;Securities&#148;) to accredited investors (&#147;Investors&#148;) in a private
placement (the &#147;Private Placement&#148;) pursuant to the terms of securities
purchase agreements, dated June 28, 2013 (the &#147;Purchase Agreements&#148;), by and
between the Company and each Investor.&nbsp; The Private Placement resulted in gross
proceeds of approximately $750,000 to the Company.&nbsp; The Company may sell
additional shares of Convertible Preferred Stock, together with related
Warrants, in one or more subsequent closings.</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 total
purchase price paid by Investors for each share of Convertible Preferred Stock
and Warrant purchased by them was $1.965, consisting of (i) $1.84, representing
the consolidated closing bid price of the Common Stock on the Nasdaq Capital
Market on June 27, 2013, plus (ii) $0.125 in respect of the Warrant.</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 Warrants
have an initial exercise price of $1.84 per share, subject to adjustment upon
the occurrence of certain customary events. &nbsp;The Warrants are exercisable at
any time on or after January 1, 2014 (the &#147;Initial Exercise Date&#148;) and terminate
on the 10-year anniversary of the Initial Exercise Date.</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'>Each share of
Convertible Preferred Stock is convertible into one share of Common Stock at an
initial conversion price of $1.84 per share, subject to adjustment upon the
occurrence of certain customary events (the &#147;Conversion Price&#148;).&nbsp; At the
initial Conversion Price, the 381,644 shares of Preferred Stock issued at the
initial closing are convertible into an aggregate of 407,570 shares of Common
Stock. &nbsp;The terms of the Convertible Preferred Stock are described in further
detail 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'>In connection
with the sale of the Securities to the Investors, the Company entered into a
Registration Rights Agreement with the Investors dated as of June 28, 2013 (the
&#147;Registration Rights Agreement&#148;), which requires the Company to register on
Form S-3 under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;),
the shares of Common Stock issuable upon conversion of the Convertible Preferred
Stock and upon exercise of the Warrants.&nbsp; Under the Registration Rights
Agreement, the Company is required to file a registration statement covering
such shares of Common Stock within 60 days from the date the Company becomes
eligible to file a registration statement on Form S-3 under the Securities Act,
subject to extension upon certain conditions.&nbsp; The Registration Rights
Agreement also provides the Investors with demand and piggyback registration
rights under the Securities Act for shares of Common Stock issuable upon
conversion of the Convertible Preferred Stock and upon exercise of the
Warrants.</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 issuance
of the Securities in the Private Placement was made in reliance upon the
exemption from registration provided by Section 4(2) of the Securities Act of
1933, as amended (the &#147;Securities Act&#148;), and the provisions of Regulation D
promulgated thereunder.&nbsp; The Securities and the shares of Common Stock issuable
upon conversion of the Convertible Preferred Stock and exercise of the Warrants
may not be offered or sold in the United States absent registration under the
Securities Act and applicable state securities laws or an applicable exemption
from those registration requirements.</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'>Frank L.
Johnson, the Company&#146;s Chairman of the Board, and Timothy Gordon, a director of
the Company, participated as Investors in the initial closing of the Private
Placement.&nbsp; The Company&#146;s Board of Directors established a special committee
consisting of disinterested directors, which was responsible for, among other
things, negotiating the terms of the transaction on behalf 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;text-indent:.5in'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;margin-left:0in; margin-right:0in; margin-top:0in' align="center">
2</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;page-break-after:avoid'><i>Terms
of the Convertible Preferred Stock</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,
rights, obligations and preferences of the Convertible Preferred Stock are set
forth in a Certificate of Amendment of the Certificate of Incorporation of the
Company (the &#147;Certificate of Amendment&#148;) filed with the Department of State of
the State of New York. </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'>Dividends on
the Convertible Preferred Stock will be payable, on a cumulative basis, in
cash, at the rate per annum of 6% of the Liquidation Preference (as defined
below) and will be payable quarterly, in arrears, on each March 31, June 30,
September 30 and December 31, commencing on September 30, 2013. The Company is
prohibited from paying any dividend with respect to shares of Common Stock or
other junior securities in any quarter unless full dividends are paid on the
Convertible Preferred Stock in such quarter.</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 the event
of a liquidation (or deemed liquidation, as described below) of the Company,
the holders of the Convertible Preferred Stock shall receive in preference to
the holders of Common Stock and any junior securities of the Company an amount
(the &#147;Liquidation Preference&#148;) equal to (i) $1.965 (the &#147;Original Issue Price&#148;)
per each outstanding share of Convertible Preferred Stock (subject to
adjustment upon the occurrence of certain customary events), plus (ii) any
accrued but unpaid dividends.&nbsp; A Change of Control of the Company (as defined in
the Certificate of Amendment) will be treated as a liquidation at the option of
the holders of a majority of the Convertible Preferred Stock; provided that the
amount paid to holders of Convertible Preferred Stock in such event will be
equal to 101% of the Original Issue Price, plus accrued but unpaid dividends.</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'>Each share of
Convertible Preferred Stock is convertible at any time, at the option of the
holder, into one share of Common Stock at the then applicable Conversion Price.&nbsp;
In addition, upon the consent of 80% of the holders of the Convertible
Preferred Stock, the Convertible Preferred Stock automatically will be
converted to shares of Common Stock at the then-applicable Conversion Price.&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'>On or after
June 28, 2018, the Company may, at its option and upon at least 30 days prior
written notice to the holders of the Convertible Preferred Stock, redeem all or
any portion of the outstanding Convertible Preferred Stock in cash at a
redemption price equal to the full Liquidation Preference as of the redemption
date. In addition, at any time on or after June 28, 2023, each holder of the
Convertible Preferred Stock will have the right to require the Company to
redeem (provided that funds are legally available to do so) all or any portion
of such holder&#146;s outstanding Convertible Preferred Stock at a redemption price
equal to the full Liquidation Preference of such shares of Convertible
Preferred Stock as of the redemption date.</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
Convertible Preferred Stock will vote together with the Common Stock on an
as-converted basis on all matters except as required by law.&nbsp; In addition, for
so long as 50% of the shares of Convertible Preferred Stock remains outstanding,
without the approval of the holders of a majority of the Convertible Preferred
Stock, voting as a separate class, the Company may not: (i) authorize or issue
any equity security senior to the Convertible Preferred Stock; (ii) declare or
pay any dividends on the Common Stock or any series of preferred stock that
ranks junior to the Convertible Preferred Stock; (iii) increase or decrease the
total number of authorized shares of
Convertible Preferred Stock; (iv) alter or change the rights, preferences or
privileges of the Convertible Preferred Stock so as to affect materially and
adversely the Convertible Preferred Stock; or (v) increase the authorized
capitalization of the Company, or otherwise amend its certificate of
incorporation or bylaws in a manner which adversely affects the rights or
preferences of the Convertible Preferred Stock.</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'>&nbsp;</p>
<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;margin-left:0in; margin-right:0in; margin-top:0in' align="center">
3</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'>&nbsp;</p>

<div>

&nbsp;</div>

<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'>The
descriptions of the terms and conditions of the Convertible Preferred Stock,
the Warrants, the Purchase Agreements and the Registration Rights Agreement set
forth herein do not purport to be complete and are qualified in their entirety
by:&nbsp; (i) the full text of the Certificate of Amendment, which is attached
hereto as Exhibit 3.1 and incorporated herein by reference, (ii) the form of
Convertible Preferred Stock Certificate, which is attached hereto as Exhibit
4.1 and incorporated herein by reference, (iii) the form of Warrant, which is
attached hereto as Exhibit 4.2 and incorporated herein by reference; (iv) the
form of Purchase Agreement, which is attached hereto as Exhibit 10.1 and
incorporated herein by reference, and (v) the form of Registration Rights
Agreement, which is attached hereto as Exhibit 10.2 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;page-break-after:avoid'><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 Private Placement, on June 28, 2013, the Company filed 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 Convertible
Preferred Stock. </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 Convertible Preferred Stock 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 9.01.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other
Events.</b></p>

<table border="0" width="100%">
	<tr>
		<td valign="top" width="5%">
		<p style="margin-top: 0; margin-bottom: 0">(d)</td>
		<td width="5%" colspan="2" valign="top">

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

		</td>
	</tr>
	<tr>
		<td valign="top" width="5%">&nbsp;</td>
		<td width="5%" valign="top">

&nbsp;</td>
		<td width="95%" valign="top">&nbsp;</td>
	</tr>
	<tr>
		<td valign="top" width="5%">&nbsp;</td>
		<td width="5%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0;margin-bottom:0;
'>3.1</p>

		</td>
		<td width="90%" valign="top">
		<p style="margin-top: 0; margin-bottom: 0">Certificate of Amendment of the
		Certificate of Incorporation of Forward Industries, Inc. filed with the
		Department of State of the State of New York on June 28, 2013.</td>
	</tr>
	<tr>
		<td valign="top" width="5%">&nbsp;</td>
		<td width="5%" valign="top">

&nbsp;</td>
		<td width="90%" valign="top">&nbsp;</td>
	</tr>
	<tr>
		<td valign="top" width="5%">&nbsp;</td>
		<td width="5%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0;margin-bottom:0;
'>4.1</p>

		</td>
		<td width="90%" valign="top">
		<p style="margin-top: 0; margin-bottom: 0">Form of 6% Senior Convertible Preferred
		Stock Certificate.</td>
	</tr>
	<tr>
		<td valign="top" width="5%">&nbsp;</td>
		<td width="5%" valign="top">

&nbsp;</td>
		<td width="90%" valign="top">&nbsp;</td>
	</tr>
	<tr>
		<td valign="top" width="5%">&nbsp;</td>
		<td width="5%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0;margin-bottom:0;
'>4.2</p>

		</td>
		<td width="90%" valign="top">
		<p style="margin-top: 0; margin-bottom: 0">Form of Common Stock Purchase Warrant.</td>
	</tr>
	<tr>
		<td valign="top" width="5%">&nbsp;</td>
		<td width="5%" valign="top">

&nbsp;</td>
		<td width="90%" valign="top">&nbsp;</td>
	</tr>
	<tr>
		<td valign="top" width="5%">&nbsp;</td>
		<td width="5%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0;margin-bottom:0;
'>10.1</p>

		</td>
		<td width="90%" valign="top">
		<p style="margin-top: 0; margin-bottom: 0">Form of Securities Purchase Agreement
		between Forward Industries, Inc., dated as of June 28, 2013, and the
		investor signatory thereto.</td>
	</tr>
	<tr>
		<td valign="top" width="5%">&nbsp;</td>
		<td width="5%" valign="top">

&nbsp;</td>
		<td width="90%" valign="top">&nbsp;</td>
	</tr>
	<tr>
		<td valign="top" width="5%">&nbsp;</td>
		<td width="5%" valign="top">

<p style='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:0;margin-bottom:0;
'>10.2.</p>

		</td>
		<td width="90%" valign="top">
		<p style="margin-top: 0; margin-bottom: 0">Form of Registration Rights Agreement,
		dated as of June 28, 2013, among Forward Industries, Inc. and the
		investors signatory thereto</td>
	</tr>
</table>

<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-indent:-1.0in'>&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='margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-bottom:12.0pt;margin-left:0in; margin-right:0in; margin-top:0in' align="center">
4</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";'>&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'>
 <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>
  <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: July 3, 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'>
	/s/ James O. McKenna</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 valign=top style='width:5%;padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Name:&nbsp;&nbsp;</p>
  </td>
  <td style='width:46%;padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	James O. McKenna</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>
 <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 valign=top style='width:5%;padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>Title:&nbsp;</p>
  </td>
  <td style='width:46%;padding:0in; '>
  <p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";'>
	Chief Financial 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>
</table>

<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;margin-right:0in;
margin-bottom:6.0pt;margin-left:0in;text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;margin-right:0in;
margin-bottom:6.0pt;margin-left:0in;text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;margin-right:0in;
margin-bottom:6.0pt;margin-left:0in;text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;margin-right:0in;
margin-bottom:6.0pt;margin-left:0in;text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;margin-right:0in;
margin-bottom:6.0pt;margin-left:0in;text-align:center'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:12.0pt;margin-right:0in;
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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": "13953351"}, "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"}}
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):
June 28, 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 June 28, 2013, Forward Industries, Inc. (the "Company") completed the sale of
381,644 shares
of its newly authorized 6% Senior Convertible Preferred Stock, par value$0.01
per share (the "Convertible Preferred Stock") and (ii) warrants to purchase a
total of 381,644 shares of the Company's common stock, par value $0.01 per
share ("Common Stock") (the "Warrants" and together with the Convertible Preferred
Stock, the "Securities") to accredited investors ("Investors") in a private
placement (the "Private Placement") pursuant to the terms of securities
purchase agreements, dated June 28, 2013 (the "Purchase Agreements"), by and
between the Company and each Investor.  The Private Placement resulted in gross
proceeds of approximately $750,000 to the Company.  The Company may sell
additional shares of Convertible Preferred Stock, together with related
Warrants, in one or more subsequent closings.
The total
purchase price paid by Investors for each share of Convertible Preferred Stock
and Warrant purchased by them was $1.965, consisting of (i) $1.84, representing
the consolidated closing bid price of the Common Stock on the Nasdaq Capital
Market on June 27, 2013, plus (ii) $0.125 in respect of the Warrant.
The Warrants
have an initial exercise price of $1.84 per share, subject to adjustment upon
the occurrence of certain customary events.  The Warrants are exercisable at
any time on or after January 1, 2014 (the "Initial Exercise Date") and terminate
on the 10-year anniversary of the Initial Exercise Date.
Each share of
Convertible Preferred Stock is convertible into one share of Common Stock at an
initial conversion price of $1.84 per share, subject to adjustment upon the
occurrence of certain customary events (the "Conversion Price").  At the
initial Conversion Price, the 381,644 shares of Preferred Stock issued at the
initial closing are convertible into an aggregate of 407,570 shares of Common
Stock.  The terms of the Convertible Preferred Stock are described in further
detail below.
In connection
with the sale of the Securities to the Investors, the Company entered into a
Registration Rights Agreement with the Investors dated as of June 28, 2013 (the
"Registration Rights Agreement"), which requires the Company to register on
Form S-3 under the Securities Act of 1933, as amended (the "Securities Act"),
the shares of Common Stock issuable upon conversion of the Convertible Preferred
Stock and upon exercise of the Warrants.  Under the Registration Rights
Agreement, the Company is required to file a registration statement covering
such shares of Common Stock within 60 days from the date the Company becomes
eligible to file a registration statement on Form S-3 under the Securities Act,
subject to extension upon certain conditions.  The Registration Rights
Agreement also provides the Investors with demand and piggyback registration
rights under the Securities Act for shares of Common Stock issuable upon
conversion of the Convertible Preferred Stock and upon exercise of the
Warrants.
The issuance
of the Securities in the Private Placement was made in reliance upon the
exemption from registration provided by Section 4(2) of the Securities Act of
1933, as amended (the "Securities Act"), and the provisions of Regulation D
promulgated thereunder.  The Securities and the shares of Common Stock issuable
upon conversion of the Convertible Preferred Stock and exercise of the Warrants
may not be offered or sold in the United States absent registration under the
Securities Act and applicable state securities laws or an applicable exemption
from those registration requirements.
Frank L.
Johnson, the Company's Chairman of the Board, and Timothy Gordon, a director of
the Company, participated as Investors in the initial closing of the Private
Placement.  The Company's Board of Directors established a special committee
consisting of disinterested directors, which was responsible for, among other
things, negotiating the terms of the transaction on behalf of the Company.
2
Terms
of the Convertible Preferred Stock
The terms,
rights, obligations and preferences of the Convertible Preferred Stock are set
forth in a Certificate of Amendment of the Certificate of Incorporation of the
Company (the "Certificate of Amendment") filed with the Department of State of
the State of New York.
Dividends on
the Convertible Preferred Stock will be payable, on a cumulative basis, in
cash, at the rate per annum of 6% of the Liquidation Preference (as defined
below) and will be payable quarterly, in arrears, on each March 31, June 30,
September 30 and December 31, commencing on September 30, 2013. The Company is
prohibited from paying any dividend with respect to shares of Common Stock or
other junior securities in any quarter unless full dividends are paid on the
Convertible Preferred Stock in such quarter.
In the event
of a liquidation (or deemed liquidation, as described below) of the Company,
the holders of the Convertible Preferred Stock shall receive in preference to
the holders of Common Stock and any junior securities of the Company an amount
(the "Liquidation Preference") equal to (i) $1.965 (the "Original Issue Price")
per each outstanding share of Convertible Preferred Stock (subject to
adjustment upon the occurrence of certain customary events), plus (ii) any
accrued but unpaid dividends.  A Change of Control of the Company (as defined in
the Certificate of Amendment) will be treated as a liquidation at the option of
the holders of a majority of the Convertible Preferred Stock; provided that the
amount paid to holders of Convertible Preferred Stock in such event will be
equal to 101% of the Original Issue Price, plus accrued but unpaid dividends.
Each share of
Convertible Preferred Stock is convertible at any time, at the option of the
holder, into one share of Common Stock at the then applicable Conversion Price. 
In addition, upon the consent of 80% of the holders of the Convertible
Preferred Stock, the Convertible Preferred Stock automatically will be
converted to shares of Common Stock at the then-applicable Conversion Price.
On or after
June 28, 2018, the Company may, at its option and upon at least 30 days prior
written notice to the holders of the Convertible Preferred Stock, redeem all or
any portion of the outstanding Convertible Preferred Stock in cash at a
redemption price equal to the full Liquidation Preference as of the redemption
date. In addition, at any time on or after June 28, 2023, each holder of the
Convertible Preferred Stock will have the right to require the Company to
redeem (provided that funds are legally available to do so) all or any portion
of such holder's outstanding Convertible Preferred Stock at a redemption price
equal to the full Liquidation Preference of such shares of Convertible
Preferred Stock as of the redemption date.
The
Convertible Preferred Stock will vote together with the Common Stock on an
as-converted basis on all matters except as required by law.  In addition, for
so long as 50% of the shares of Convertible Preferred Stock remains outstanding,
without the approval of the holders of a majority of the Convertible Preferred
Stock, voting as a separate class, the Company may not: (i) authorize or issue
any equity security senior to the Convertible Preferred Stock; (ii) declare or
pay any dividends on the Common Stock or any series of preferred stock that
ranks junior to the Convertible Preferred Stock; (iii) increase or decrease the
total number of authorized shares of
Convertible Preferred Stock; (iv) alter or change the rights, preferences or
privileges of the Convertible Preferred Stock so as to affect materially and
adversely the Convertible Preferred Stock; or (v) increase the authorized
capitalization of the Company, or otherwise amend its certificate of
incorporation or bylaws in a manner which adversely affects the rights or
preferences of the Convertible Preferred Stock.
3
The
descriptions of the terms and conditions of the Convertible Preferred Stock,
the Warrants, the Purchase Agreements and the Registration Rights Agreement set
forth herein do not purport to be complete and are qualified in their entirety
by:  (i) the full text of the Certificate of Amendment, which is attached
hereto as Exhibit 3.1 and incorporated herein by reference, (ii) the form of
Convertible Preferred Stock Certificate, which is attached hereto as Exhibit
4.1 and incorporated herein by reference, (iii) the form of Warrant, which is
attached hereto as Exhibit 4.2 and incorporated herein by reference; (iv) the
form of Purchase Agreement, which is attached hereto as Exhibit 10.1 and
incorporated herein by reference, and (v) the form of Registration Rights
Agreement, which is attached hereto as Exhibit 10.2 and incorporated herein by
reference.
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 Private Placement, on June 28, 2013, the Company filed 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 Convertible
Preferred Stock.
The summary of
the rights, powers and preferences of the Convertible Preferred Stock 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 9.01.       Other
Events.
(d)
Exhibits.
3.1
Certificate of Amendment of the
		Certificate of Incorporation of Forward Industries, Inc. filed with the
		Department of State of the State of New York on June 28, 2013.
4.1
Form of 6% Senior Convertible Preferred
		Stock Certificate.
4.2
Form of Common Stock Purchase Warrant.
10.1
Form of Securities Purchase Agreement
		between Forward Industries, Inc., dated as of June 28, 2013, and the
		investor signatory thereto.
10.2.
Form of Registration Rights Agreement,
		dated as of June 28, 2013, among Forward Industries, Inc. and the
		investors signatory thereto
4
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: July 3, 2013
By:
FORWARD INDUSTRIES, INC.
/s/ James O. McKenna
Name:
James O. McKenna
Title:
Chief Financial Officer