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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
FORWARD INDUSTRIES, INC.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
349862102
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(CUSIP Number)
Lawrence G. Nusbaum, Esq., Gusrae, Kaplan & Bruno, 120 Wall Street, New
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York, New York 10005
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(212) 269-1400
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
May 10, 1996
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the
following box. /___/
Check the following box if a fee is being paid with the statement / /. (A
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fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent
of the class of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership of five percent
or less of such class.) (See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed
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with the Commission. See Rule 13d-1(a) for other parties to whom copies are
to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
<PAGE>
SCHEDULE 13D
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C U S I P N o . ____________ Page ____ of _____ Pages
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
CWAI Consultants Corp. ("CWAI")
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
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(b) / X /
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See Footnote 1 to Item 5 of the Schedule 13D of CWAI dated
February 15, 1996 (the "February Schedule 13D"), previously
filed with the SEC.
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
00 - Sole Shareholder has for shares exercised, and will for
any shares exercised in the future, contributed capital to fund
exercise of a warrant held by CWAI. See Item 3 of the February
Schedule 13D.
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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7 SOLE VOTING POWER
NUMBER
OF 247,500
SHARES --------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY 0
EACH --------------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH 247,500
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
247,500
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / X /
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See Footnote 1 to Item 5 of the February Schedule 13D.
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Approximately 5.06%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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<PAGE>
Item 1. Security and Issuer
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This Amendment No. 5 to Schedule 13D amends the Schedule 13D dated
February 15, 1996 (the "February Schedule 13D") of CWAI Consultants Corp.
("CWAI"), relating to the common stock, par value $.01 per share (the
"Common Stock"), of FORWARD INDUSTRIES, INC., a New York corporation (the
"Issuer"). The principal executive offices of the Issuer are located at 272
Hempstead Turnpike, West Hempstead, New York 11552.
All capitalized terms not otherwise defined herein, have the meaning set
forth in the February Schedule 13D.
Item 5. Interest in Securities of the Issuer
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On May 10, 1996, CWAI sold in a series of broker's transactions 65,000
shares of Common Stock of the Issuer at a sale price of $5.25 per share. As
a result of such sale, as of May 10, 1996, CWAI beneficially owns 247,500
shares of Common Stock of the Issuer (approximately 5.06% of the issued and
outstanding shares of Common Stock of the Issuer). The sale of such 65,000
shares was covered by a registration statement of the Issuer which the
Securities and Exchange Commission declared effective on March 25, 1996.
See Item 5 of the February Schedule 13D for a description of securities
of the Issuer that CWAI disclaims beneficial ownership of.
Item 7. Material to be Filed as Exhibits
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None.
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<PAGE>
SIGNATURES
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After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and accurate.
May 13, 1996 CWAI CONSULTANTS CORP.
By: /s/Mark Berman
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Name: Mark Berman
Title: President
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