Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

On January 27, 2020, the Board of Directors of Forward Industries, Inc. (the "Company") approved and ratified the extension of the maturity date of that certain $1.6 million promissory note issued by the Company to Forward Industries (Asia-Pacific) Corporation ("Forward China") to March 17, 2020. Forward China is an entity which is owned by the Company's Chairman and Chief Executive Officer.

















































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