Forward Industries, Inc. — Director's Dealing 2010

Mar 25, 2010

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: FORWARD INDUSTRIES INC (FORD)
CIK: 0000038264
Period of Report: 2010-03-22

Reporting Person: Johnson Frank L (10% Owner)
Reporting Person: LaGrange Capital Partners LP (10% Owner)
Reporting Person: LAGRANGE CAPITAL PARTNERS OFFSHORE FUND LTD (10% Owner)
Reporting Person: LaGrange Capital Administration, L.L.C. (10% Owner)
Reporting Person: LaGrange Special Situations Yield Master Fund, Ltd. (10% Owner)
Reporting Person: LaGrange Capital Management, LLC (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, par value $.01 per share	925727	Indirect

Footnotes

F1: See Remarks.

F2: Subsequent to the acquisition on March 22, 2010, as a result of which the Reporting Persons acquired more than 10% of the Common Shares, the Reporting Persons made two additional acquisitions of Common Stock. Specifically, on March 23, 2010, the Reporting Owners acquired 19,069 shares of Common Stock and on March 24, 2010, the Reporting Owners acquired 29,181 shares of Common Stock, both of which acquisitions are included in the figure provided in column 2 of Table I. These purchases are reflected in a Form 4 filed contemporaneously herewith. LaGrange Capital Management, L.L.C., LaGrange Capital Administration, L.L.C. (collectively ?Management Entities?) and Frank LaGrange Johnson each disclaim ownership in such acquisitions by LaGrange Capital Partners, L.P., LaGrange Capital Partners Offshore Fund, Ltd. and LaGrange Special Situations Yield Master Fund, L.P. (collectively ?Funds?), except to the extent of any pecuniary interest therein. See also Remarks.