Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Johnson Frank L
 2. Date of Event Requiring Statement (Month/Day/Year)
03/22/2010		 3. Issuer Name and Ticker or Trading Symbol
FORWARD INDUSTRIES INC [FORD]
(Last)
(First)
(Middle)
570 LEXINGTON AVENUE, 27TH FLOOR, 		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10022		 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock, par value $.01 per share 925,727
I
See Footnotes 1 and 2. (1) (2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Johnson Frank L
570 LEXINGTON AVENUE, 27TH FLOOR
NEW YORK, NY 10022		     X    
LaGrange Capital Partners LP
570 LEXINGTON AVENUE, 27TH FLOOR
NEW YORK, NY 10022		     X    
LAGRANGE CAPITAL PARTNERS OFFSHORE FUND LTD
570 LEXINGTON AVENUE, 27TH FLOOR
NEW YORK, NY 10022		     X    
LaGrange Capital Administration, L.L.C.
570 LEXINGTON AVENUE, 27TH FLOOR
NEW YORK, NY 10022		     X    
LaGrange Special Situations Yield Master Fund, Ltd.
570 LEXINGTON AVENUE
27TH FL
NEW YORK, NY 10022		     X    
LaGrange Capital Management, LLC
570 LEXINGTON AVENUE
27TH FL
NEW YORK, NY 10022		     X    

Signatures

LaGrange Capital Partners, L.P. By: LaGrange Capital Management, L.L.C., its General Partner By: /s/ Frank LaGrange Johnson, Sole Member 03/24/2010
**Signature of Reporting Person Date
LaGrange Capital Management, L.L.C. By: /s/ Frank LaGrange Johnson, Sole Member 03/24/2010
**Signature of Reporting Person Date
LaGrange Capital Partners Offshore Fund, Ltd. By: LaGrange Capital Administration, L.L.C., its Investment Manager By: /s/ Frank LaGrange Johnson, its Managing Member 03/24/2010
**Signature of Reporting Person Date
LaGrange Special Situations Yield Master Fund, Ltd. By: LaGrange Capital Administration, L.L.C., its Investment Manager By: /s/ Frank LaGrange Johnson, its Managing Member 03/24/2010
**Signature of Reporting Person Date
LaGrange Capital Administration, L.L.C. By: /s/ Frank LaGrange Johnson, its Managing Member 03/24/2010
**Signature of Reporting Person Date
By: /s/ Frank LaGrange Johnson 03/24/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) See Remarks.
(2) Subsequent to the acquisition on March 22, 2010, as a result of which the Reporting Persons acquired more than 10% of the Common Shares, the Reporting Persons made two additional acquisitions of Common Stock. Specifically, on March 23, 2010, the Reporting Owners acquired 19,069 shares of Common Stock and on March 24, 2010, the Reporting Owners acquired 29,181 shares of Common Stock, both of which acquisitions are included in the figure provided in column 2 of Table I. These purchases are reflected in a Form 4 filed contemporaneously herewith. LaGrange Capital Management, L.L.C., LaGrange Capital Administration, L.L.C. (collectively ?Management Entities?) and Frank LaGrange Johnson each disclaim ownership in such acquisitions by LaGrange Capital Partners, L.P., LaGrange Capital Partners Offshore Fund, Ltd. and LaGrange Special Situations Yield Master Fund, L.P. (collectively ?Funds?), except to the extent of any pecuniary interest therein. See also Remarks.
 
Remarks:
LaGrange Capital Partners, L.P. directly beneficially owns 706,204 shares of Common Stock. LaGrange Capital Management, L.L.C. is the general partner of LaGrange Capital Partners, L.P. LaGrange Capital Partners Offshore Fund, Ltd. directly beneficially owns 148,166 shares of Common Stock. LaGrange Special Situations Yield Master Fund, Ltd. Directly beneficially owns 71,357 shares of Common Stock. LaGrange Capital Administration, L.L.C. is the investment manager of LaGrange Capital Partners Offshore Fund, Ltd. and LaGrange Special Situations Yield Master Fund, Ltd. Frank LaGrange Johnson is the sole member of LaGrange Capital Management, L.L.C. and the managing member of LaGrange Capital Administration, L.L.C. Frank LaGrange Johnson, by virtue of his relationship to the Management Entities and the Funds may be deemed to beneficially own (as that term is defined in Rule 13d-3 under the Act) all of the shares of Common Stock subject to this filing. The Management Entities, by virtue of their respective relationships to the Funds, may also be deemed to beneficially own (as that term is defined in Rule 13d-3 under the Act) all of the shares of Common Stock subject to this filing. The percentage of beneficial ownership of 11.6% (or 925,727 shares of Common Stock) is based on 7,965,023 shares of Common Stock that were outstanding as of February 8, 2010 (as set forth on the Issuer's Form 10-Q, filed on February 8, 2010 with the Securities and Exchange Commission). Frank LaGrange Johnson and the Management Entities each disclaim beneficial ownership of all securities reported on this Form 3, except to the extent of any pecuniary interest therein and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all the reported shares for purposes of Section 16 or for any other purpose.

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