-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, U3nU+zFQSVQ1IkoxOvyx5QMpPX3q5YaulDc35V5tK9+OTgRxQvxXvrVcNMHib4ST xO4dCk9IkC2jMeXAwzxypA== 0000912057-01-542093.txt : 20020412 0000912057-01-542093.hdr.sgml : 20020412 ACCESSION NUMBER: 0000912057-01-542093 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20011205 GROUP MEMBERS: ATLANTIS EQUITIES, INC. GROUP MEMBERS: NANCY J. ELLIN GROUP MEMBERS: ROBERT ELLIN FAMILY 1997 TRUST GROUP MEMBERS: ROBERT ELLIN PROFIT SHARING PLAN SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: FORWARD INDUSTRIES INC CENTRAL INDEX KEY: 0000038264 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS PRODUCTS, NEC [3089] IRS NUMBER: 131950672 STATE OF INCORPORATION: NY FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-45773 FILM NUMBER: 1807088 BUSINESS ADDRESS: STREET 1: 400 POST AVENUE CITY: WESTBURY STATE: NY ZIP: 11590 BUSINESS PHONE: 5163380700 MAIL ADDRESS: STREET 1: 400 POST AVENUE CITY: WESTBURY STATE: NY ZIP: 11590 FORMER COMPANY: FORMER CONFORMED NAME: PROGRESS HEAT SEALING CO INC DATE OF NAME CHANGE: 19721111 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ELLIN ROBERT S CENTRAL INDEX KEY: 0001071292 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 750 LEXINGTON AVE CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2127505858 MAIL ADDRESS: STREET 1: 750 LEXINGTON AVE CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 a2065310zsc13da.txt SC 13D/A SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ----------------- SCHEDULE 13D/A (RULE 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (AMENDMENT NO. 6)(1) Forward Industries, Inc. ----------------------------------------------- (Name of Issuer) Common Stock, Par Value $0.01 Per Share ---------------------------------------------------------- (Title of Class of Securities) 34986210 --------------------------- (CUSIP Number) Robert S. Ellin Joel M. Handel, Esq. Atlantis Equities, Inc. Baer Marks & Upham LLP 750 Lexington Avenue 805 Third Avenue New York, New York New York, New York 10022 (212) 702-5700 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 27, 2001 ---------------------------------------------------------------- (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 that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g) check the following box |_|. NOTE. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. (Continued on following pages) (Page 1 of 10 Pages) - -------- (1) 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). CUSIP No. 34986210 13D/A Page 2 of 10 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS Robert S. Ellin - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |x| - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. SOURCE OF FUNDS* PF - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 7. SOLE VOTING POWER 2,500 shares NUMBER OF ------------------------------------------------------ SHARES 8. SHARED VOTING POWER 748,497 shares BENEFICIALLY ------------------------------------------------------ 9. SOLE DISPOSITIVE POWER 2,500 shares OWNED BY EACH ------------------------------------------------------ REPORTING 10. SHARED DISPOSITIVE POWER 748,497 shares PERSON WITH - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 750,997 shares - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 12.9% - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- CUSIP No. 34986210 13D/A Page 3 of 10 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS Robert Ellin Family 1997 Trust - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |x| - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. SOURCE OF FUNDS* PF - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 7. SOLE VOTING POWER 37,500 shares NUMBER OF ------------------------------------------------------ SHARES 8. SHARED VOTING POWER BENEFICIALLY ------------------------------------------------------ 9. SOLE DISPOSITIVE POWER 37,500 shares OWNED BY EACH ------------------------------------------------------ REPORTING 10. SHARED DISPOSITIVE POWER PERSON WITH - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 37,500 shares - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.6% - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* OO - -------------------------------------------------------------------------------- CUSIP No. 34986210 13D/A Page 4 of 10 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS Atlantis Equities, Inc. - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |x| - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. SOURCE OF FUNDS* WC - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION New York - -------------------------------------------------------------------------------- 7. SOLE VOTING POWER NUMBER OF ------------------------------------------------------ SHARES 8. SHARED VOTING POWER 276,650 shares BENEFICIALLY ------------------------------------------------------ 9. SOLE DISPOSITIVE POWER OWNED BY EACH ------------------------------------------------------ REPORTING 10. SHARED DISPOSITIVE POWER 276,650 shares PERSON WITH - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 276,650 shares - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.5% - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- CUSIP No. 34986210 13D/A Page 5 of 10 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS Robert Ellin Profit Sharing Plan - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |x| - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. SOURCE OF FUNDS* OO - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 7. SOLE VOTING POWER NUMBER OF ------------------------------------------------------ SHARES 8. SHARED VOTING POWER 324,347 shares BENEFICIALLY ------------------------------------------------------ 9. SOLE DISPOSITIVE POWER OWNED BY EACH ------------------------------------------------------ REPORTING 10. SHARED DISPOSITIVE POWER 324,347 shares PERSON WITH - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 324,347 shares - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.6% - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* EP - -------------------------------------------------------------------------------- CUSIP No. 34986210 13D/A Page 6 of 10 Pages - -------------------------------------------------------------------------------- 1. NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS Nancy J. Ellin - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_| (b) |x| - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. SOURCE OF FUNDS* PF - -------------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) |_| - -------------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 7. SOLE VOTING POWER NUMBER OF ------------------------------------------------------ SHARES 8. SHARED VOTING POWER 110,000 shares BENEFICIALLY ------------------------------------------------------ 9. SOLE DISPOSITIVE POWER OWNED BY EACH ------------------------------------------------------ REPORTING 10. SHARED DISPOSITIVE POWER 110, 000 shares PERSON WITH - -------------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 110,000 shares - -------------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.9% - -------------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- CUSIP No. 34986210 13D/A Page 7 of 10 Pages ITEM 1 SECURITY AND ISSUER This Amendment No. 6 to Schedule 13D ("Amendment No. 6"), amends the Schedule 13D filed in September 1998 (the "Original 13D"), as amended by Amendment No. 1 filed in October 1998 ("Amendment No. 1"), Amendment No. 2 filed in December 1998 ("Amendment No. 2"), Amendment No. 3 in May 1999 ("Amendment No. 3"), Amendment No. 4 in September 2000 ("Amendment No. 4") and Amendment No. 5 in August 2001 ("Amendment No. 5"), 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 $0.01 per share (the "Common Stock"), of Forward Industries, Inc., a New York corporation (the "Company"). The address of the principal executive office of the Company is 1801 Green Road, E. Pompano Beach, Florida 33064. ITEM 2 IDENTITY AND BACKGROUND The information in Item 2 has not changed. ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION The information previously reported in Item 3 is hereby amended by adding the following after the existing information: From September 28, 2001 to November 23, 2001, the Robert Ellin Profit Sharing Plan (the "Plan") (i) purchased an aggregate of 56,380 shares of Common Stock in a series of open market transactions for an aggregate purchase price of $53,508.61, and (ii) sold an aggregate of 200 shares of Common Stock in a series of open-market transactions for an aggregate sale price of $185.92 . The source of funds used by the Plan to make these purchases is the contributions from its participants. On October 10, 2001, Atlantis Equities, Inc. purchased 300 shares of Common Stock in an open-market transaction for an aggregate purchase price of $280.56. The source of funds used by Atlantis Equities, Inc. to make these transactions is its working capital. ITEM 4 PURPOSE OF TRANSACTION The information in Item 4 is hereby amended by deleting section 4.2 and replacing it with the following: 4.2 The Filing Persons continue to believe that the Company's business has significant prospects for growth but has been unsuccessful as a result of continued overspending and mismanagement by the Company's officers and directors including the approval of substantial compensation arrangements for officers and directors despite the Company's poor performance over many years. The Company's Board of Directors has failed to call a special meeting of shareholders to consider changes to the Board, although demands therefor have been made. In addition, the Company has failed to provide documents relating to its shareholders and other appropriate matters despite numerous requests. The Filing Persons have decided to take appropriate action to rectify these many issues which adversely affected the Company's performance and the value of the Company to its shareholders, including: o holding a special meeting of shareholders for the purpose of removing the Company's board of directors; other actions being considered include o finding an appropriate purchaser for the Company or the Company's business; o considering a bid to purchase additional stock of the Company; o selling all or substantially all of the Filing Persons' stock in the Company; o commencing a lawsuit on behalf of the Company's shareholders against the directors and officers of the Company seeking damages for, and/or to otherwise seeking to enjoin such directors and officers from committing further, improper actions. CUSIP No. 34986210 13D/A Page 8 of 10 Pages ITEM 5 INTEREST IN SECURITIES OF THE ISSUER Item 5 is hereby amended and supplemented by adding the following thereto: (a) In a series of open market transactions effected between September 28, 2001 and November 27, 2001, the Plan increased its holdings of Common Stock by 56,180 shares. The Plan now holds an aggregate of 324,347 shares of Common Stock, representing approximately 5.6% of the Company's issued and outstanding shares of Common Stock. On October 10, 2001, Atlantis Equities, Inc. purchased 300 shares of Common Stock in an open market transaction. Atlantis Equities, Inc. now holds an aggregate of 276,650 shares of Common Stock, representing 4.5% of the Company's issued and outstanding Common Stock. As a result of these transactions, the aggregate amount of Common Stock beneficially owned by Mr. Ellin has increased to 750,997 shares, representing 12.9% of the Company's issued and outstanding shares of Common Stock. (b) During the past 60 days preceding the filing of this report the Plan and Atlantis Equities, Inc. effected the following transactions: ROBERT ELLIN PROFIT SHARING PLAN - --------------------------------
DATE NUMBER OF PURCHASE/SALE PRICE PER SHARE SHARES 11/27/01 300 Purchase 1.0925 11/28/01 1,000 Purchase 0.8900 11/28/01 100 Purchase 0.8600 11/23/01 400 Purchase 1.0200 11/23/01 100 Purchase 1.0200 11/23/01 100 Purchase 1.0300 11/23/01 300 Purchase 1.0500 11/20/01 100 Sale 0.9500 11/20/01 100 Sale 0.9600 11/19/01 500 Purchase 0.9600 11/19/01 1,000 Purchase 0.9700 11/19/01 1,000 Purchase 0.9800 11/19/01 3,000 Purchase 0.9800 11/19/01 100 Purchase 0.9800 11/19/01 3,000 Purchase 0.9900 11/19/01 80 Purchase 0.9900 11/19/01 100 Purchase 1.0000 11/19/01 1,100 Purchase 1.0000 11/19/01 1,300 Purchase 1.0000 11/19/01 1,000 Purchase 1.0300 11/19/01 400 Purchase 1.0300 11/19/01 1,000 Purchase 1.0300 11/19/01 1,000 Purchase 1.0300 11/19/01 100 Purchase 1.0350 11/19/01 1,000 Purchase 1.0600 11/19/01 1,000 Purchase 1.0650 11/9/01 100 Purchase 0.9075 11/9/01 100 Purchase 0.9200
CUSIP No. 34986210 13D/A Page 9 of 10 Pages
NUMBER OF DATE SHARES PURCHASE/SALE PRICE PER SHARE 11/9/01 1,000 Purchase 0.9400 11/9/01 100 Purchase 0.9450 11/9/01 1,000 Purchase 0.9700 11/8/01 100 Purchase 0.8825 11/8/01 100 Purchase 0.9300 11/8/01 100 Purchase 0.9500 11/8/01 600 Purchase 0.9900 11/8/01 1,000 Purchase 0.9900 10/24/01 10,100 Purchase 1.0000 10/25/01 600 Purchase 1.0400 10/22/01 3,100 Purchase 0.6700 10/19/01 1,700 Purchase 0.9600 10/18/01 1,000 Purchase 0.8700 10/12/01 2,400 Purchase 0.9200 10/9/01 2,000 Purchase 0.8800 10/5/01 100 Purchase 0.8500 10/26/01 900 Purchase 1.0500 10/29/01 200 Purchase 0.9700 10/30/01 1,500 Purchase 0.9500 9/20/01 1,000 Purchase 0.8200 9/25/01 1,500 Purchase 0.6900 9/26/01 6,500 Purchase 0.7200 9/28/01 2,000 Purchase 0.7300 ATLANTIS EQUITIES, INC. - ----------------------- 10/10/01 300 Purchase 0.9400
ITEM 6 CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER None. ITEM 7 MATERIAL TO BE FILED AS EXHIBITS None. CUSIP No. 34986210 13D/A Page 10 of 10 Pages SIGNATURE After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify the information set forth in this Amendment is true, complete and correct. Dated: December 5, 2001 /s/ Robert S. Ellin ------------------------------------ Robert S. Ellin ROBERT ELLIN 1997 FAMILY TRUST By: /s/ Marvin Ellin, Trustee -------------------------------- 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 /s/ Nancy J. Ellin ------------------------------------ Nancy J. Ellin -----END PRIVACY-ENHANCED MESSAGE-----