Current Report Filing (8-k)
December 17 2020 - 4:02PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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
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001-34780
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13-1950672
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(State or Other Jurisdiction
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(Commission
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(I.R.S. Employer
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of Incorporation)
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File Number)
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Identification No.)
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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:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
o 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
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, par value $0.01 per share
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FORD
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The NASDAQ Capital Market
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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.
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.
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FORWARD INDUSTRIES, INC.
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Date: December 17, 2020
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By:
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/s/ Anthony Camarda
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Name: Anthony Camarda
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Title: Chief Financial Officer
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