Forward Industries, Inc. — Director's Dealing 2005

Dec 21, 2005

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: FORWARD INDUSTRIES INC (FORD)
CIK: 0000038264
Period of Report: 2005-12-20

Reporting Person: SCHIFFMAN MICHAEL (Director, President and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2005-12-20	Forward Industries Commmon Stock	G	32000	$15.5	Disposed	295427	Direct

Footnotes

F1: Shares donated to the CAIGOS Foundation Inc., a not-for-profit corporation operated under section 501(c)(3) of the Internal Revenue Code. The foundation is controlled by Mr. Schiffman and certain members of his family, however, Mr. Schiffmann denies any pecuniary interest in the foundation.

F2: Average of high and low price as reported by NASDAQ.