Last $1.31 USD
Change Today 0.00 / 0.00%
Volume 3.5K
FORD On Other Exchanges
As of 8:10 PM 09/18/14 All times are local (Market data is delayed by at least 15 minutes).

forward industries inc (FORD) Snapshot

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52 Week High
03/31/14 - $2.10
52 Week Low
05/16/14 - $1.15
Market Cap
Average Volume 10 Days
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forward industries inc (FORD) Details

Forward Industries, Inc., together with its subsidiaries, designs, markets, and distributes carry and protective solutions primarily for hand held electronic devices. The company offers carrying cases and other accessories for medical monitoring and diagnostic kits; and other portable electronic and non-electronic products, such as sporting and recreational products, bar code scanners, smartphones, GPS and location devices, tablets, and firearms. It also designs, markets, and distributes carry and protective solutions for hand held electronics devices, including soft-sided carrying cases, bags, clips, hand straps, protective plates, and other accessories made of leather, nylon, vinyl, plastic, PVC, and other synthetic materials. Forward Industries, Inc. sells its products to original equipment manufacturers and contract manufacturers in the Americas, the EMEA, and the APAC regions. The company was founded in 1954 and is headquartered in West Palm Beach, Florida.

19 Employees
Last Reported Date: 01/14/14
Founded in 1954

forward industries inc (FORD) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $350.0K
Compensation as of Fiscal Year 2013.

forward industries inc (FORD) Key Developments

Forward Industries Inc. Terminates James McKenna as Chief Financial Officer, Treasurer and Assistant Secretary

Forward Industries Inc. announced that on August 19, 2014 the Board of Directors terminated the employment of James McKenna as Chief Financial Officer, Treasurer and Assistant Secretary of the company. The company has engaged Financial Consulting Strategies LLC to provide the services of an interim financial director.

Forward Industries Inc. announced delayed 10-Q filing

On 08/15/2014, Forward Industries Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Terence Bernard Wise Files Derivative Suit Against Forward Industries' Chairman Frank Lagrange Johnson for Breach of Fiduciary Duty and to Prevent Dilutive Stock Issuance

On July 15, 2014, Terence Bernard Wise filed a derivative suit on behalf of Forward Industries Inc. in the Supreme Court of the State of New York against Chairman Frank LaGrange Johnson and affiliated members of Forward's Board of Directors to prevent a dilutive stock issuance and other entrenchment tactics that he believes are aimed at disenfranchising shareholders in advance of Forward's 2014 Annual Meeting. The listing application indicated that the Board had approved a new series of convertible preferred stock that it planned to issue to unidentified investors at a 10% discount to market value. In fact, however, the proposed issuance has never been approved by the Company's Board. As alleged in the Complaint filed in the New York State Supreme Court: The convertible preferred stock that Mr. Johnson and his supporters purport to have approved would represent over 20% of Forward's outstanding common stock, which would significantly dilute Forward's existing shareholders; The proposed issuance would violate NASDAQ rules requiring shareholder approval for issuances constituting more than 20% of a company's outstanding common stock; The listing application filed with Nasdaq was filed under the name and affirmation of Forward's CFO without his knowledge or authorization; The listing application included material misrepresentations, stating that the Board had approved the proposed issuance on July 7, 2014, even though it had never been approved by the Board but, apparently, by a special committee which 'exceeded the authority delegated to it by the resolutions of the Board'. The proposed issuance was not permitted under Forward's governing documents, which require Board approval to issue preferred stock.


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Price/Book 1.1x
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