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<TITLE>Prepared by e-Services, LLC - www.edgar2.net</TITLE>
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<P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION</P>
<P ALIGN="CENTER">Washington, D.C. 20549</P>
<B><P ALIGN="CENTER">FORM 8-K</P>
</B><P ALIGN="CENTER">CURRENT REPORT</P>
<P ALIGN="CENTER">Pursuant to Section 13 or 15(d) of<br>
the Securities Exchange Act of 1934</P>
<P ALIGN="CENTER">Date of Report (Date of Earliest Event Reported):<br>
December 21, 2001</P>
<table border="0" cellspacing="0" width="700" cellpadding="0">
     <tr>
          <td colspan="3" width="698"><P ALIGN="CENTER">
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FORWARD
INDUSTRIES,
INC.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

</U></P></td>
     </tr>
     <tr>
          <td colspan="3" width="698"><P align="center">(Exact Name of Registrant as
               Specified in Charter)&nbsp;&nbsp;&nbsp;</P></td>
     </tr>
     <tr>
          <td colspan="3" width="698">&nbsp;&nbsp;&nbsp;&nbsp;</td>
     </tr>
     <tr>
          <td align="center" width="267"><P ALIGN="center">

<U>&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;New York&nbsp;&nbsp;&nbsp;</U></P>
          </td>
          <td align="center" width="227"><P ALIGN="center"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
               0-6669&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
          </td>
          <td align="center" width="200"><P ALIGN="center"><U>&nbsp;&nbsp;&nbsp;&nbsp;
               13-1950672&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</U></P>
          </td>
     </tr>
     <tr>
          <td align="center" width="267"><P ALIGN="center">(State or Other&nbsp;Jurisdiction of&nbsp;<br>
               Incorporation)&nbsp;&nbsp;&nbsp;</P>
          </td>
          <td align="center" width="227"><P ALIGN="center">(Commission File Number)&nbsp;</P>
          </td>
          <td align="center" width="200"><P ALIGN="center">(IRS Employer<br>
               Identification No.)</P>
          </td>
     </tr>
     <tr>
          <td width="267">
<P ALIGN="JUSTIFY">&nbsp;&nbsp;</P>
          </td>
          <td width="227">&nbsp;&nbsp;</td>
          <td width="200">
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;</P>
          </td>
     </tr>
     <tr>
          <td colspan="3" width="698">
<P ALIGN="center">1801 Green Road<br>
<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. Pompano Beach,
Florida 33064&nbsp;&nbsp;&nbsp;<br>
</U>(Address of Principal Executive Offices)</P>
          </td>
     </tr>
     <tr>
          <td colspan="3" width="698">&nbsp;&nbsp;</td>
     </tr>
     <tr>
          <td colspan="3" width="698">
               <p align="center">Registrant's Telephone Number, including<br>
               area code: <U>(954) 360-6420
</U></td>
     </tr>
     <tr>
          <td colspan="3" width="698">&nbsp;&nbsp;</td>
     </tr>
     <tr>
          <td colspan="3" width="698">
               <p align="center"> <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br>
</U>(Former Address, if changed since last report)</td>
     </tr>
</table>
<P ALIGN="CENTER">&nbsp;</P>
<I>
<hr color="#000080">
<P ALIGN="JUSTIFY">&nbsp;</P>
</I><P ALIGN="JUSTIFY">Item 5:&#9;Other Events</P>
<P ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On December 21, 2001, Forward Industries, Inc. announced its intent to restate the Company's financial results for its fiscal years ended September 30, 1999 and 2000. A copy of the press release issued by Forward Industries, Inc. announcing the restatement is attached as Exhibit 99.1 to this Report and is incorporated herein by reference.</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">&nbsp;</P>
<P ALIGN="JUSTIFY">Item 7:&#9;Financial Statements, Pro Forma Financial Information and Exhibits.</P>
<blockquote>
<P ALIGN="JUSTIFY">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exhibits</P>

<P ALIGN="JUSTIFY">99.1&#9;Press Release issued by Forward Industries, Inc. on December 21, 2001</P>
</blockquote>

<p ALIGN="center">-2-</p>
<hr color="#000080">
<P ALIGN="JUSTIFY">&nbsp;</P>

<P ALIGN="CENTER">SIGNATURES</P>
<P ALIGN="JUSTIFY">&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 ALIGN="JUSTIFY">Dated:&nbsp;&nbsp; December 24, 2001</P>
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          <td colspan="2" width="744">
<P ALIGN="JUSTIFY">FORWARD INDUSTRIES, INC.</P>
          </td>
     </tr>
     <tr>
          <td width="1">
<P ALIGN="JUSTIFY">By:&nbsp;</P></td>
          <td width="1059">&nbsp;/s/&nbsp; Douglas W. Sabra</td>
     </tr>
     <tr>
          <td width="28"></td>
          <td><P ALIGN="JUSTIFY">Name:&nbsp; Douglas W. Sabra</P></td>
     </tr>
     <tr>
          <td width="28"></td>
          <td width="716">

<P ALIGN="JUSTIFY">Title:&nbsp; Chief Financial Officer </P>
          </td>
     </tr>
</table>

<P ALIGN="CENTER">-3-</P>
<hr color="#000080">

<P ALIGN="CENTER">&nbsp;</P>

<P ALIGN="CENTER">EXHIBIT INDEX</P>
<blockquote>
<P>99.1&nbsp;&nbsp;&nbsp;&nbsp; Press Release issued by Forward Industries, Inc. on December 21, 2001</P>
</blockquote>
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Prepared by e-Services, LLC - www.edgar2.net
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 21, 2001
FORWARD
INDUSTRIES,
INC.
(Exact Name of Registrant as
               Specified in Charter)
New York
0-6669
13-1950672
(State or Other Jurisdiction of
Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
1801 Green Road
E. Pompano Beach,
Florida 33064
(Address of Principal Executive Offices)
Registrant's Telephone Number, including
area code:
(954) 360-6420
(Former Address, if changed since last report)
Item 5:	Other Events
On December 21, 2001, Forward Industries, Inc. announced its intent to restate the Company's financial results for its fiscal years ended September 30, 1999 and 2000. A copy of the press release issued by Forward Industries, Inc. announcing the restatement is attached as Exhibit 99.1 to this Report and is incorporated herein by reference.
Item 7:	Financial Statements, Pro Forma Financial Information and Exhibits.
(c)         Exhibits
99.1	Press Release issued by Forward Industries, Inc. on December 21, 2001
-2-
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:   December 24, 2001
FORWARD INDUSTRIES, INC.
By:
/s/  Douglas W. Sabra
Name:  Douglas W. Sabra
Title:  Chief Financial Officer
-3-
EXHIBIT INDEX
99.1     Press Release issued by Forward Industries, Inc. on December 21, 2001