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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities and Exchange Act of 1934
Date of Report (Date of Earliest Event Reported):
June 9, 1997
FORWARD INDUSTRIES, INC.
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(Exact Name of Registrant as Specified in its Charter)
New York 0-6669 13-1950672
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(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification
incorporation) No.)
275 Hempstead Turnpike
West Hempstead, New York 11552
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(Address of principal executive offices)
Registrant's Telephone Number, including
area code: (516) 564-1100
Not Applicable
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(Former Address, if changed since last report)
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Item 4. Change in Registrant's Certifying Accountant
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As of June 9, 1997, the Board of Directors of the Registrant ("Forward
Industries, Inc." or the "Company") approved the resignation Miller, Ellin &
Company ("Miller Ellin") as the Company's independent accountants and the
engagement of Patrusky, Mintz & Semel ("Patrusky") as the Company's independent
accountants. The reports of Miller, Ellin on the Company's financial statements
as of and for the two fiscal years ended September 30, 1995 and September 30,
1996 did not contain an adverse opinion or a disclaimer of opinion, and was not
qualified or modified as to uncertainty, audit scope, or accounting principles.
During the Company's two fiscal years ended September 30, 1995 and
September 30, 1996 and subsequent period through June 9, 1997 there were no
disagreements between the Company and Miller, Ellin concerning any matter of
accounting principles or practices, financial statement disclosure, or auditing
scope or procedure, which disagreements, if not resolved to the satisfaction of
Miller, Ellin, would have caused it to make reference to the subject matter of
the disagreements in connection with its reports.
The Company did not consult with Patrusky during the Company's two
fiscal years ended September 30, 1995 and September 30, 1996 and subsequent
period through June 9, 1997 on the application of accounting principles to a
specified transaction; the type of opinion that might be rendered on the
Company's financial statements; any accounting, auditing or financial reporting
issue; or any item that was either the subject of a disagreement or a
reportable event as defined in Item 304 of Regulation S-K.
The Company provided Miller, Ellin with a copy of the disclosures
contained herein and has filed as an exhibit hereto the response of Miller,
Ellin to the disclosures set forth in this section.
Item 7. Financial Statements, Pro Forma
Financial Information and Exhibits
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(a) Financial statements of business acquired: Not applicable
(b) Pro forma financial information: Not applicable
(C) Exhibits:
No. Exhibit
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16.1 Letter of Miller, Ellin & Company, dated June 12, 1997,
pursuant to Section 304(a)(3) of Regulation S-K of the
rules and regulations of the Securities and Exchange
Commission.
2
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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.
June 13, 1997
FORWARD INDUSTRIES, INC.
By: /s/ Theodore H. Schiffman
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Theodore H. Schiffman
Chairman and Chief Executive Officer
3
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EXHIBIT INDEX
No. Exhibit Page
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16.1 Letter of Miller, Ellin & Company, dated June 12, 1997
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EXHIBIT 16.1
MILLER, ELLIN & COMPANY
750 LEXINGTON AVENUE
NEW YORK, NEW YORK 10022
June 12, 1997
Securities and Exchange Commission
450 5th Street, N.W.
Washington, D.C. 20549
Gentlemen:
We were previously the principal accountant for Forward Industries, Inc.
and, under the date of December 5, 1996, except Notes 6 and 19 which were
dated December 23, 1996, we reported on the consoldiated balance sheet of
Forward Industries, Inc. and Subsidiary as of September 30, 1996 and the
consolidated statements of operations, changes in stockholders' equity and
cash flows for the years ended September 30, 1996 and 1995. On June 9, 1997,
we resigned. We have read Forward Industries, Inc.'s statements included
under item 4 and its Form 8-K dated June 9, 1997 and we agree with such
statements.
Very truly yours,
/s/ Miller, Ellin & Company
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Certified Public Accountants
