Forward Industries, Inc. (NASDAQ:FORD) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Due to, among other things, the FINRA Investigation (as referenced in Item 8.01 below), James Frost has decided to resign as a director of Forward Industries, Inc. (the “Company”), effective as of April 20, 2018.
Item 8.01 Other Events.
On January 25, 2018, the Company received a letter from the Financial Industry Regulatory Authority (“FINRA”) notifying the Company that FINRA is investigating trading in the Company’s securities surrounding the January 18, 2018 announcement that the Company had acquired Intelligent Product Solutions, Inc. (the “FINRA Investigation”). We have not been made aware of any findings by FINRA or if any determination has been made and the Company is cooperating fully with FINRA’s investigation.
About Forward Industries, Inc. (NASDAQ:FORD)
Forward Industries, Inc. designs and distributes carry and protective solutions, primarily for hand held electronic devices, including soft-sided carrying cases, bags, clips, hand straps, protective plates and other accessories. The Company operates in the design and distribution of carry and protective solutions, primarily for hand held electronic devices segment. Its original equipment manufacturer (OEM) products include carrying cases and other accessories for blood glucose monitoring kits and various other portable electronic and non-electronic products. Its carrying cases are designed to enable the devices to be stowed in a pocket, handbag, briefcase, or backpack, clipped to a belt or shoulder strap, or strapped to an arm. Its products include Diabetic products and Other products. The Company, through its subsidiaries, Forward US and Forward Switzerland, distributes and sells its products across the world.