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<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'>&nbsp;<b>UNITED STATES</b></p>

<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>SECURITIES AND EXCHANGE
COMMISSION</b></p>

<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>Washington, D.C. 20549</b></p>
<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'>&nbsp;</p>



<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>
<font size="4">FORM 8-K </font> </b></p>
<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'>&nbsp;</p>



<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>CURRENT REPORT </b></p>
<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'>&nbsp;</p>



<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>Pursuant to Section 13 OR 15(d) of </b></p>

<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>The Securities Exchange Act of 1934 </b></p>

<p style='margin:0in;margin-bottom:.0001pt'>&nbsp;&nbsp;</p>

<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'>
<font size="2">Date of Report (Date of
earliest event reported) </font> </p>

<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>
<font size="2">May 1, 2007</font></b></p>
<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'>&nbsp;</p>



<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>
<font size="5">Forward Industries, Inc.</font></b></p>

<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>
<font size="2">(Exact name of registrant
as specified in its charter) </font> </b></p>
<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'>&nbsp;</p>





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  <font size="2">&nbsp; </font>

  </td>
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  </td>
  <td width="32%" style='width:32.0%;padding:0in 0in 0in 0in'>

  </td>
  <td width="1%" valign=bottom style='width:1.0%;padding:0in 0in 0in 0in'>

  </td>
  <td width="32%" style='width:32.0%;padding:0in 0in 0in 0in'>

  </td>
 </tr>
 <tr>
  <td valign=top style='border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in'>
  <p class=MsoNormal align=center style='text-align:center'><b><font size="2">New York</font></b></p>
  </td>
  <td valign=bottom style='padding:0in 0in 0in 0in'>

  </td>
  <td valign=bottom style='border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in'>
  <p class=MsoNormal align=center style='text-align:center'><b><font size="2">000-6669</font></b></p>
  </td>
  <td valign=bottom style='padding:0in 0in 0in 0in'>

  </td>
  <td valign=bottom style='border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in'>
  <p class=MsoNormal align=center style='text-align:center'><b><font size="2">13-1950672</font></b></p>
  </td>
 </tr>
 <tr>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>
	<font size="2">(State or Other
  Jurisdiction</font></b></p>
  <p align=center style='margin-top:0in;margin-right:0in;margin-bottom:.75pt;
  margin-left:0in;text-align:center'><b><font size="2">of Incorporation)</font></b></p>
  </td>
  <td valign=bottom style='padding:0in 0in 0in 0in'>

  </td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>
	<font size="2">(Commission</font></b></p>
  <p align=center style='margin-top:0in;margin-right:0in;margin-bottom:.75pt;
  margin-left:0in;text-align:center'><b><font size="2">File Number)</font></b></p>
  </td>
  <td valign=bottom style='padding:0in 0in 0in 0in'>

  </td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>
	<font size="2">(IRS Employer</font></b></p>
  <p align=center style='margin-top:0in;margin-right:0in;margin-bottom:.75pt;
  margin-left:0in;text-align:center'><b><font size="2">Identification No.)</font></b></p>
  </td>
 </tr>
</table>

</div>





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  </td>
  <td width="1%" valign=bottom style='width:1.0%;padding:0in 0in 0in 0in'>

  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

  </td>
  <td width="47%" style='width:47.0%;padding:0in 0in 0in 0in'>

  </td>
 </tr>
 <tr>
  <td valign=top style='border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in'>
  <p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>
	<font size="2">1801 Green Road, Suite
  E</font></b></p>
  <p align=center style='margin-top:0in;margin-right:0in;margin-bottom:.75pt;
  margin-left:0in;text-align:center'><b><font size="2">Pompano Beach, FL </font> </b></p>
  </td>
  <td valign=bottom style='padding:0in 0in 0in 0in'>

  </td>
  <td valign=bottom style='border:none;border-bottom:solid windowtext 1.0pt;
  padding:0in 0in 0in 0in'>
  <p class=MsoNormal align=center style='text-align:center'><b><font size="2">33064</font></b></p>
  </td>
 </tr>
 <tr>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p class=MsoNormal align=center style='text-align:center'><b><font size="2">(Address of principal executive offices)</font></b></p>
  </td>
  <td valign=bottom style='padding:0in 0in 0in 0in'>

  </td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p class=MsoNormal align=center style='text-align:center'><b><font size="2">(Zip&nbsp;Code)</font></b></p>
  </td>
 </tr>
</table>

</div>





<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'>&nbsp;</p>
<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'>
<font size="2">Registrant's telephone
number, including area code </font> </p>

<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>
<font size="2">(954) 419-9544 </font> </b></p>





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<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="80%"
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  <td width="100%" style='width:100.0%;padding:0in 0in 0in 0in'>

  </td>
 </tr>
 <tr>
  <td valign=top style='border:none;border-bottom:solid black 1.0pt;padding:
  0in 0in 0in 0in'>

  &nbsp;

  </td>
 </tr>
 <tr>
  <td nowrap valign=top style='padding:0in 0in 0in 0in'>
  <p class=MsoNormal align=center style='text-align:center'><b><font size="2">(Former name or former address, if changed since last
  report)</font></b></p>
  </td>
 </tr>
</table>

</div>



<p style='margin:0in;margin-bottom:.0001pt'>&nbsp;</p>
<p style='margin:0in;margin-bottom:.0001pt'>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:0in;margin-bottom:.0001pt'>&nbsp;</p>



<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%"
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  <td width="6%" valign=top style='width:6.0%;padding:0in 0in 0in 0in'>
  <p class=MsoNormal><font face="Wingdings">o</font></p>
  </td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p class=MsoNormal>Written communications
  pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign=top style='width:6.0%;padding:0in 0in 0in 0in'>
  &nbsp;</td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  &nbsp;&nbsp;
  </td>
 </tr>
</table>



<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%"
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 <tr>
  <td width="6%" valign=top style='width:6.0%;padding:0in 0in 0in 0in'>
  <p class=MsoNormal><font face="Wingdings">o</font></p>
  </td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p class=MsoNormal>Soliciting material
  pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign=top style='width:6.0%;padding:0in 0in 0in 0in'>
  &nbsp;</td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  &nbsp;&nbsp;
  </td>
 </tr>
</table>



<table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%"
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 <tr>
  <td width="6%" valign=top style='width:6.0%;padding:0in 0in 0in 0in'>
  <p class=MsoNormal><font face="Wingdings">o</font></p>
  </td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p class=MsoNormal>Pre-commencement
  communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
  240.14d-2(b)) </p>
  </td>
 </tr>
 <tr>
  <td width="6%" valign=top style='width:6.0%;padding:0in 0in 0in 0in'>
  &nbsp;</td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  &nbsp;&nbsp;
  </td>
 </tr>
</table>



<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 class=MsoNormal><font face="Wingdings">o</font></p>
  </td>
  <td valign=top style='padding:0in 0in 0in 0in'>
  <p class=MsoNormal>Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c)) </p>
  </td>
 </tr>
</table>



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




<p><b>Item 1.01 Entry into a
material definitive agreement. </b></p>



<p style='text-indent:24.5pt'>On Wednesday, May 2,
2007, the Compensation Committee of the Company's Board of Directors determined
to grant to Douglas W. Sabra, the Company's Chief Financial Officer, 20,000
shares of restricted common stock, effective as of the grant date of May 4,
2007.&nbsp; </p>



<p style='text-indent:24.5pt'>The restricted stock
will vest in three equal portions with one third vesting on the grant date and
one third on each of the next two anniversary dates of the grant date.&nbsp; The
shares of restricted common stock were granted under the Company' 2007 Equity
Incentive Plan approved at the Annual Meeting of Shareholders.</p>

<p><b>Item 2.02 Results of
Operations and Financial Condition. </b></p>



<p style='text-indent:24.5pt'>On Tuesday, May 1, 2007,
the Company issued a press release announcing its results of operations for the
three and six-month period ended March 31, 2007.&nbsp; A copy of the press release
is attached as Exhibit 99.1.</p>

<p style='margin:0in;margin-bottom:.0001pt'><b>Item 9.01. Financial
Statements and Exhibits. </b></p>



<p class=MsoNormal>(c) Exhibits.</p>



<p class=MsoNormal style='margin-left:1.0in;text-indent:-1.0in'>Exhibit 99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Press release issued on May 1,
2007</p>







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




<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>SIGNATURES </b></p>
<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'>&nbsp;</p>



<p style='margin:0in;margin-bottom:.0001pt;text-indent:24.5pt'>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 class=MsoNormal style='margin-left:1.0in;text-indent:-1.0in'><b>Forward Industries Inc.,</b></p>

<p class=MsoNormal style='margin-left:1.0in;text-indent:-1.0in'><b>&nbsp;</b></p>





<p class=MsoNormal style='margin-left:1.0in;text-indent:-1.0in'><b>By</b>:</p>





<p class=MsoNormal align="left">/s/ Jerome E. Ball<br>
_______________________________________<br>
<b>Name </b>Jerome
E. Ball</p>



<p class=MsoNormal style='margin-left:1.0in;text-indent:-1.0in'><b>Title:</b> Chairman
and Chief Executive Officer</p>



<p class=MsoNormal style='margin-left:1.0in;text-indent:-1.0in'><b>Dated:</b> May
4, 2007</p>



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




<p align=center style='margin:0in;margin-bottom:.0001pt;text-align:center'><b>EXHIBIT INDEX </b></p>

<p class=MsoNormal style='margin-left:1.0in;text-indent:-1.0in'>&nbsp;</p>

<p class=MsoNormal style='margin-left:1.0in;text-indent:-1.0in'><b><u>Exhibit No.</u></b><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>Description</u></b></p>

<p class=MsoNormal style='margin-left:1.0in;text-indent:-1.0in'>Exhibit 99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Press release issued by the Company
on May 1, 2007</p>



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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": "000-06669", "film-number": "07819629"}, "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 1, 2007
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 1.01 Entry into a
material definitive agreement.
On Wednesday, May 2,
2007, the Compensation Committee of the Company's Board of Directors determined
to grant to Douglas W. Sabra, the Company's Chief Financial Officer, 20,000
shares of restricted common stock, effective as of the grant date of May 4,
2007.
The restricted stock
will vest in three equal portions with one third vesting on the grant date and
one third on each of the next two anniversary dates of the grant date.  The
shares of restricted common stock were granted under the Company' 2007 Equity
Incentive Plan approved at the Annual Meeting of Shareholders.
Item 2.02 Results of
Operations and Financial Condition.
On Tuesday, May 1, 2007,
the Company issued a press release announcing its results of operations for the
three and six-month period ended March 31, 2007.  A copy of the press release
is attached as Exhibit 99.1.
Item 9.01. Financial
Statements and Exhibits.
(c) Exhibits.
Exhibit 99.1            Press release issued on May 1,
2007
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/ Jerome E. Ball
_______________________________________
Name
Jerome
E. Ball
Title:
Chairman
and Chief Executive Officer
Dated:
May
4, 2007
EXHIBIT INDEX
Exhibit No.
Description
Exhibit 99.1            Press release issued by the Company
on May 1, 2007