Wise Amends Forward Industries 13D Filing

TL;DR

Wise just updated his stake in FORW. Check the 13D/A.

AI Summary

Terence Bernard Wise filed an amendment (No. 9) to Schedule 13D on July 11, 2024, regarding Forward Industries, Inc. The filing indicates a change in beneficial ownership of the company's common stock. Wise is listed with a business address in Hauppauge, NY, and his filing is an amendment to a previous filing.

Why It Matters

This filing signals a potential shift in control or significant stakeholding by Terence Bernard Wise in Forward Industries, Inc., which could influence the company's future direction.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate activist investor activity or significant shifts in major shareholder positions, warranting closer monitoring.

Key Players & Entities

• Terence Bernard Wise (person) — Filer and beneficial owner
• Forward Industries, Inc. (company) — Subject company
• 0001683168-24-004756 (filing_id) — Accession number for the filing
• 20240711 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — ame of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti

Filing Documents

• wise_13da9.htm (SC 13D/A) — 39KB
• 0001683168-24-004756.txt ( ) — 41KB

From the Filing

SC 13D/A 1 wise_13da9.htm AMENDMENT NO. 9 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No. 9)* Forward Industries, Inc. (Name of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securities) 349862409 (CUSIP Number) Terence Bernard Wise 700 Veterans Memorial Hwy, Suite 100 Hauppauge, NY 11788 (631) 547-3055 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) July 5, 2024 (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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-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 §240.13d-7 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). CUSIP No. 349862409 Schedule 13D/A Page 2 of 5 1. NAMES OF REPORTING PERSONS Terence Bernard Wise 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) ¨ (b) x 3. SEC USE ONLY 4. SOURCE OF FUNDS (see instructions) 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 Kingdom Number of Shares Beneficially Owned by Each Reporting Person With: 7. SOLE VOTING POWER 220,104 (1)(2) 8. SHARED VOTING POWER 0 9. SOLE DISPOSITIVE POWER 220,104 (1)(2) 10. SHARED DISPOSITIVE POWER 0 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 220,104 (1)(2) 12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES ¨ 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.99% (3) 14. TYPE OF REPORTING PERSON IN (1) Represents (i) 181,394 shares of Common Stock held by the Reporting Person, including vested stock options and (ii) shares of Common Stock underlying Series A-1 Convertible Preferred Stock held by the Reporting Person convertible within 60 days, (2) Does not include shares of the Issuer’s Common Stock underlying Series A-1 Convertible Preferred Stock held by the Reporting Person due to the 19.99% beneficial ownership limitation. (3) Based on 1,101,069 shares of Common Stock outstanding based upon information provided by the Issuer. The numbers in this 13D/A give effect to the Issuer’s reverse stock split that became effective on June 18, 2024. CUSIP No. 349862409 Schedule 13D/A Page 3 of 5 EXPLANATORY NOTE This Amendment No. 9 on Schedule 13D/A (this “Amendment”) is being filed with the Securities and Exchange Commission (the “SEC”) on behalf of the Reporting Persons (as defined below) and relates to the Common Stock, par value $0.01 per share, of Forward Industries, Inc. (the “Issuer”). This Amendment is being filed as a result of a change in the Reporting Person’s beneficial ownership of the Common Stock, and in the total number of shares of the Issuer’s issued and outstanding common stock and amends and supplements Amendment No. 8 to the Schedule 13D and all previous filings on Schedule 13D. Item 1. Security and Issuer. This Amendment to Schedule 13D relates to the Common Stock, par value $0.01 per share, of Forward Industries, Inc., a New York corporation. The Issuer’s principal executive offices are located at 700 Veterans Memorial Hwy, Suite 100, Hauppauge, NY, 11788. Item 2. Identity and Background. (a) This Amendment is filed on behalf of an individual, Terence Bernard Wise (the “Reporting Person”). (b) The principal business address of the Reporting Person is 700 Veterans Memorial Hwy, Suite 100, Hauppauge, NY, 11788. (c) The present principal occupation of the Reporting Person is Chief Executive Officer of the Issuer. The Reporting Person is also the principal and owner of Forward Industries Asia-Pacific Corporation (“Forward China”) and principal and Chairman of The Justwise Group Ltd. (d) During the last five years, the Reporting Person has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) Du

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