Key Developments: Forward Industries Inc (FORD.W)
1.96USD
23 Apr 2013
$-0.06 (-2.97%)
$2.02
$2.05
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$1.96
200
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$2.25
$1.02
Latest Key Developments (Source: Significant Developments)
Forward Industries, Inc. Plans To Exit Retail Business
Forward Industries, Inc. announced that it plans to exit its global retail business and focus solely on growing its OEM business. In connection with its plans to exit retail over the next 60 days, on June 21, 2012, Forward entered into a definitive Memorandum of Understanding (the MOU) with G-Form LLC, a manufacturer of consumer and athletic products incorporating extreme protective technology (G-Form). The MOU contemplates, among other things that: G-Form will repurchase certain G-Form inventory from Forward that it has on hand, Forward will assist G-Form, on a short-term basis, in performing certain operational and sales functions previously performed by Forward for G-Form products; G-Form may offer employment to certain of Forward's non-US based employees; that Forward and G-Form will work together to distribute Forward's inventory of products and to transition Forward's distribution channels relating to G-Form products to G-Form; and Forward and G-Form have agreed on the settlement of advanced royalties paid under the Memorandum of Understanding dated August 30, 2011, by and between Forward and G-Form (the Prior MOU). Pursuant to the MOU, the Prior MOU was terminated and shall have no further force and effect. Full Article
Forward Industries, Inc. Announces Appointment Of Co-Chief Executive Officers-Form 8-K
Forward Industries, Inc. reported in its Form 8-K, on April 2, 2012, the Board of Directors of Forward Industries, Inc., a New York corporation (the Company), appointed Robert Garrett Jr. and Brett Johnson as Co-Chief Executive Officers of the Company. Full Article
Forward Industries, Inc. Signs Global Partnership With ClearPlex
Forward Industries, Inc. announced that it has entered into a global exclusive license agreement with ClearPlex, LLC to sell Forward-branded products incorporating ClearPlex’s patented glass film protection technology, to consumer electronics retailers, original equipment manufacturers and into other business-to-business channels. Full Article
Forward Industries, Inc. Signs Global Partnership With Annex Products
Forward Industries, Inc. announced an exclusive worldwide distribution partnership with Annex Products. The partnership includes the distribution of all Annex Products, beginning with the Opena case and Quad Lock mounting system, two top performing iPhone 4 case accessories. Drawing on their industrial design and toolmaking experience, Annex Products’ founders Rob Ward and Chris Peters, launched the Opena case – the World’s first iPhone4 case with a slide-out bottle opener, in August 2011. The Opena case attracted instant success and a celebrity following, including Ashton Kutcher. Full Article
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