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Forward Industries Inc. Message Board

  • jalexander611 jalexander611 May 27, 2010 9:27 PM Flag

    Executives are selling shares-Time to SELL. See why.

    I am sure most who read this will think I am bashing FORD however this is what I have gathered from research before taking a short position. Long's please be very careful and utilize tight stop loss's. Things do not look good for this company and FORD will more than likely decline drastically over the next few weeks.

    At first glance there appears to be good insider buying however the only insider buying is Frank L. Johnson. Frank L. Johnson is not an executive or employee of FORD. Frank L. Johnson manages Lagrange Capital and per the recent schedule 13D filed appears to be a very disgruntled investor. Frank L. Johnson is not happy with the direction the company is going. Check out the letter from Frank L. Johnson to FORD's executives by clicking the link below. Read Exhibit B towards the bottom of the filing:

    http://www.sec.gov/Archives/edgar/data/38264/000090256110000030/sch13g_mh-032310.htm

    It appears Frank L. Johnson is only purchasing shares to gain majority control. Per his letter to FORD it appears he wishes to overthrow management. These are the words directly from his letter to FORD's executives dated March 9th 2010:

    "As a major investor, I am very concerned about the course of action presently being taken by this board and management team."

    Going back to the insider transactions, the actual executives of FORD have been selling their shares all month. The executives are Malsin, McKenna, and Sabra. You can verify the actual executives of FORD at the link below:

    http://www.sunbiz.org/scripts/cordet.exe?action=DETFIL&inq_doc_number=F00000005093&inq_came_from=NAMFWD&cor_web_names_seq_number=0000&names_name_ind=N&names_cor_number=&names_name_seq=&names_name_ind=&names_comp_name=FORWARDINDUSTRIES&names_filing_type=

    Obviously the executives are selling for a reason.

    In additon he earnings of the company are getting worse and worse each year along with a declining balance sheet.

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    • I totally agree. But i would like to remind, the last time Ford was on the move up I believe 2-3 years ago. The CEO, then CFO sold out early and the stock quadrupled after he sold. But then the company was doing great and now not so great. So how do we read into this? I wrote I was troubled when the CFO sold all his shares last week, and I was knocked down for worrying. Now the CEO, the guy in charge, the head honcho sold quite a bit of shares. what should we read from that?

      I'm extremely concern about my position in this company. If the management and board have no confidence in the company, They should GET OUT!!!!!!!!!!!!!!!! Quit and let real people who have real experience run the show. I think the only experience the CEO knows is how many donuts he can eat at one time!!!!

      You work for us, how dare they sell. It may be legal to sell but it's quite immoral and if something major happens in a negative way and these guys sold, I think that the SEC should be notified. If not, all they care about is themselves and screw the shareholders, which is worst in my humble opinion

      Does anyone know if these were options that were expiring or shares they owned? if they were options, then they had no choice, which i can understand.

      Please find out. thanks
      Charlotte

 
FORD
1.31-0.01(-0.76%)Sep 17 3:59 PMEDT

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