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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 3)
Under the Securities Exchange Act of 1934
FORWARD INDUSTRIES, INC.
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(Name of Issuer)
COMMON STOCK (.01 PAR VALUE)
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(Title of Class of Securities)
34986210
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(CUSIP Number)
Kenneth Koch, Esq.
Squadron, Ellenoff, Plesent & Sheinfeld, LLP
551 Fifth Avenue, New York, NY 10176
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
April 27 , 1999
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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: o
NOTE: Six copies of this statement, including all exhibits, should be filed 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).
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CUSIP NO. 34986210
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1 Name of Reporting Person Robert S. Ellin
S.S. or I.R.S. Identification No.
of Above Person
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2 Check the Appropriate Box if (a) [ ]
a Member of a Group (b) [X]
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3 SEC Use Only
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4 Source of Funds PF
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5 Check 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 U.S.A.
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7 Sole Voting Power 305,500 shares including
216,000 shares underlying
warrants
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Number of Shares 8 Shared Voting Power 1,154,617 shares including
Beneficially Owned by 571,950 shares underlying
Reporting Person With warrants
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9 Sole Dispositive Power 305,500 shares including
216,000 shares underlying
warrants
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10 Shared Dispositive Power 1,154,617 shares including
571,950 shares underlying
warrants
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11 Aggregate Amount Beneficially
Owned By Each Reporting Person 1,460,117 shares
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12 Check box if the aggregate Amount
in Row (11) Excludes Certain Shares [X]
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13 Percent of Class Represented
Amount in Row (11) 21.8%
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14 Type of Reporting Person IN
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CUSIP NO. 34986210
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1 Name of Reporting Person Robert Ellin Family 1997 Trust
S.S. or I.R.S. Identification No.
of Above Person
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2 Check the Appropriate Box if (a) [ ]
a Member of a Group (b) [X]
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3 SEC Use Only
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4 Source of Funds PF
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5 Check 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 U.S.A.
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7 Sole Voting Power 37,500 shares
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Number of Shares 8 Shared Voting Power
Beneficially Owned by
Reporting Person With ---------------------------------------------------------
9 Sole Dispositive Power 37,500 shares
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10 Shared Dispositive Power
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11 Aggregate Amount Beneficially
Owned By Each Reporting Person 37,500 shares
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12 Check box if the aggregate Amount
in Row (11) Excludes Certain Shares [ ]
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13 Percent of Class Represented
Amount in Row (11) 0.6%
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14 Type of Reporting Person OO
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CUSIP NO. 34986210
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1 Name of Reporting Person Atlantis Equities, Inc.
S.S. or I.R.S. Identification No.
of Above Person
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2 Check the Appropriate Box if (a) [ ]
a Member of a Group (b) [X]
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3 SEC Use Only
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4 Source of Funds WC
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5 Check 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
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Number of Shares 8 Shared Voting Power 326,450 shares including
Beneficially Owned by 121,950 shares underlying
Reporting Person With warrants
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9 Sole Dispositive Power
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10 Shared Dispositive Power 326,450 shares including
121,950 shares underlyin
warrants
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11 Aggregate Amount Beneficially 326,450 shares
Owned By Each Reporting Person
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12 Check box if the aggregate Amount
in Row (11) Excludes Certain Shares [ ]
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13 Percent of Class Represented
Amount in Row (11) 5.4%
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14 Type of Reporting Person CO
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CUSIP NO. 34986210
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1 Name of Reporting Person Robert Ellin Profit Sharing Plan
S.S. or I.R.S. Identification No.
of Above Person
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2 Check the Appropriate Box if (a) [ ]
a Member of a Group (b) [X]
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3 SEC Use Only
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4 Source of Funds OO
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5 Check 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 U.S.A.
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7 Sole Voting Power
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Number of Shares 8 Shared Voting Power 553,167 shares including
Beneficially Owned by 285,000 shares underlying
Reporting Person With warrants
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9 Sole Dispositive Power
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10 Shared Dispositive Power 553,167 shares including
285,000 shares underlyin
warrants
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11 Aggregate Amount Beneficially 553,167 shares
Owned By Each Reporting Person
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12 Check box if the aggregate Amount
in Row (11) Excludes Certain Shares [ ]
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13 Percent of Class Represented
Amount in Row (11) 8.9%
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14 Type of Reporting Person EP
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CUSIP NO. 34986210
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1 Name of Reporting Person Nancy J. Ellin
S.S. or I.R.S. Identification No.
of Above Person
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2 Check the Appropriate Box if (a) [ ]
a Member of a Group (b) [X]
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3 SEC Use Only
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4 Source of Funds PF
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5 Check 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 U.S.A.
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7 Sole Voting Power
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Number of Shares 8 Shared Voting Power 275,000 shares including
Beneficially Owned by 165,000 shares underlying
Reporting Person With warrants
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9 Sole Dispositive Power
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10 Shared Dispositive Power 275,000 shares including
165,000 shares underlyin
warrants
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11 Aggregate Amount Beneficially 275,000 shares
Owned By Each Reporting Person
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12 Check box if the aggregate Amount
in Row (11) Excludes Certain Shares [ ]
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13 Percent of Class Represented
Amount in Row (11) 4.5%
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14 Type of Reporting Person IN
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This Amendment No. 3 to Schedule 13D ("Amendment No. 3"), amends the
Schedule 13D filed in September 1998 (the "Original 13D"), as amended by
Amendment No. 1 filed in October 1998 ("Amendment No.1") and Amendment No. 2
filed in December 1998 ("Amendment No. 2"), filed by Robert S. Ellin, Robert
Ellin Family 1997 Trust, Atlantis Equities, Inc., Robert Ellin Profit Sharing
Plan and Nancy J. Ellin (the "Filing Persons") and relates to the common stock,
par value $.01 per share ("Common Stock"), of Forward Industries, Inc., a New
York corporation (the "Company").
Capitalized terms used herein and not defined herein shall have the
meanings ascribed to them in the Original 13D and Amendments Nos. 1 and 2.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source of the funds used for purchases made by Robert Ellin Profit
Sharing (the "Plan") was funds contributed by or for the benefit of the
beneficiaries thereof. See Item 5(a).
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5(a) is hereby amended and supplemented by adding the following
thereto:
(a) On April __, 1999, the Plan made a privately negotiated purchase for
$106,667 from a shareholder of 106,667 shares of Common Stock.
In addition, the Plan purchased 13,500 shares on the open market for 0.8325
per share on January 5, 1999, and Atlantis Equities purchased 5,000 shares on
the open market for $1.25 per share on January 21, 1999.
These equity securities, in addition to the 1,372,450 shares of Common
Stock previously reported as beneficially owned by the Filing Persons in
Amendment No.2 (a total of 1,497,617 shares), represent approximately 22.4% of
the outstanding shares of Common Stock of the Company.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
correct and complete.
Dated: April 27, 1999 /s/ Robert S. Ellin
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Robert S. Ellin
ROBERT ELLIN FAMILY 1997 TRUST
By: /s/ Marvin Ellin, Trustee
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Marvin Ellin, Trustee
ATLANTIS EQUITIES, INC.,
By: /s/ Robert S. Ellin
---------------------------------
Robert S. Ellin, President
ROBERT ELLIN PROFIT SHARING PLAN
By: /s/ Robert S. Ellin
---------------------------------
Robert S. Ellin, Trustee
By: /s/ Nancy J. Ellin
---------------------------------
Nancy J. Ellin
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