Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SCHIFFMAN MICHAEL
   2. Issuer Name and Ticker or Trading Symbol
FORWARD INDUSTRIES INC [FORD] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President & COO
(Last)
(First)
(Middle)
C/O FORWARD INDUSTRIES INC, 1801 GREEN RD. SUITE E		 3. Date of Earliest Transaction (Month/Day/Year)
08/01/2005
(Street)

POMPANO BEACH, FL 33064		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Forward Industries Common Stock 08/01/2005   M   73,437 A $ 2.5 375,864 D  
Forward Industries Common Stock 08/01/2005   S   73,437 D $ 28.27 (1) 302,427 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Common Stock Option $ 2.5 08/01/2005   M     73,437 01/01/2001 12/31/2005 Forward Industries Common Stock 73,437 $ 0 251,563 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SCHIFFMAN MICHAEL
C/O FORWARD INDUSTRIES INC
1801 GREEN RD. SUITE E
POMPANO BEACH, FL 33064		   X     President & COO  

Signatures

 Jim McKenna, Power of Attorney   08/03/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Shares: Price: 5000 $28.00 5000 $28.05 5000 $28.10 5000 $28.15 5000 $28.20 5000 $28.25 10000 $28.30 5212 $28.35 5000 $28.40 5000 $28.45 5000 $28.50 5000 $28.55 5000 $28.60 3225 $28.65
 
Remarks:
CONFIRMING STATEMENT

This Statement confirms that the undersigned, Michael M. Schiffman, has authorized and designated Douglas Sabra and James McKenna, or any one or more of them, to execute and file on the undersigned's behalf all Forms 3, 4 and 5 and Schedules 13D and 13G (including any amendments to any of the foregoing) that the undersigned may be required to file with the U.S. Securities and Exchange Commission as a result of the undersigned's ownership of or transactions in securities of Forward Industries, Inc.  This Confirming Statement shall continue until the undersigned is no longer required to file Forms 4 and 5 and/or Schedules 13D or 13G (including amendments to any of the foregoing) with regard to the undersigned's ownership of or transactions in securities of Forward Industries, Inc., unless earlier revoked in writing.  The undersigned acknowledges that Douglas Sabra and James McKenna are not assuming any of the undersigned's responsibilities to comply with Section 16 of the Securities Exchange Act of 1934.

/s/ Michael M. Schiffman
July 25, 2005

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