8-K 1 forward_8k.htm FORM 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): December 13, 2020

 

Forward Industries, Inc.

(Exact name of registrant as specified in its charter)

 

New York   001-34780   13-1950672
(State or Other Jurisdiction   (Commission   (I.R.S. Employer
of Incorporation)   File Number)   Identification No.)

 

700 Veterans Memorial Hwy, Suite 100

Hauppauge, New York 11788

(Address of Principal Executive Office) (Zip Code)

 

(631) 547-3041

(Registrant’s telephone number, including area code)

 

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:

 

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))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, par value $0.01 per share FORD The NASDAQ Capital Market

 

 

 

 

 

   
 

 

Item 1.02 Termination of a Material Definitive Agreement.

 

On December 14, 2020, Forward Industries, Inc. (the “Company”) was notified by TD Bank, N.A. that its $1,356,570 loan under the Paycheck Protection Program was forgiven.

 

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

 

On December 13, 2020, the Board of Directors of the Company approved and ratified the extension of the maturity date of that certain $1.6 million promissory note issued by the Company to Forward Industries (Asia-Pacific) Corporation (“Forward China”) to December 31, 2021. Forward China is an entity which is owned by the Company’s Chairman and Chief Executive Officer.  

 

In connection with the extension, the Company and Forward China entered into an amendment to the Note.

 

 

 

 

 

 

 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.

 

  FORWARD INDUSTRIES, INC.  
       
Date: December 17, 2020 By: /s/ Anthony Camarda  
    Name: Anthony Camarda  
    Title:   Chief Financial Officer  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 3