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 *
  Trinad Capital Master Fund Ltd.
2. Date of Event Requiring Statement (Month/Day/Year)
10/06/2008
3. Issuer Name and Ticker or Trading Symbol
FORWARD INDUSTRIES INC [FORD]
(Last)
(First)
(Middle)
2121 AVENUE OF THE STARS, SUITE 2550
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)

LOS ANGELES, CA 90067
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 835,246
D (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
Trinad Capital Master Fund Ltd.
2121 AVENUE OF THE STARS
SUITE 2550
LOS ANGELES, CA 90067
    X    
Trinad Advisors II, LLC
2121 AVENUE OF THE STARS
SUITE 2550
LOS ANGELES, CA 90067
    X    
Trinad Capital L.P.
2121 AVENUE OF THE STARS
SUITE 2550
LOS ANGELES, CA 90067
    X    
Trinad Management, LLC
2121 AVENUE OF THE STARS
SUITE 2550
LOS ANGELES, CA 90067
    X    
ELLIN ROBERT S
2121 AVENUE OF THE STARS
SUITE 2550
LOS ANGELES, CA 90067
    X    
Wolf Jay
2121 AVENUE OF THE STARS
SUITE 2550
LOS ANGELES, CA 90067
    X    

Signatures

Trinad Capital Master Fund, Ltd. By: /s/ Jay A. Wolf, Authorized Representative 10/13/2008
**Signature of Reporting Person Date

Trinad Advisors II LLC By: /s/ Robert S. Ellin, Managing Director 10/13/2008
**Signature of Reporting Person Date

Trinad Capital LP By: Trinad Advisors II LLC, its general partner By: /s/ Robert S. Ellin, Managing Director 10/13/2008
**Signature of Reporting Person Date

Trinad Management, LLC By: /s/ Robert S. Ellin, Managing Director 10/13/2008
**Signature of Reporting Person Date

/s/ Robert S. Ellin 10/13/2008
**Signature of Reporting Person Date

/s/ Jay A. Wolf 10/13/2008
**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) These securities are owned directly by Trinad Capital Master Fund, Ltd. (the "Master Fund") which is a reporting person. These securities may be deemed to be beneficially owned by Trinad Management, LLC, the investment manager of the Master Fund and Trinad Capital LP; Trinad Capital LP, a controlling stockholder of the Master Fund; Trinad Advisors II, LLC, the general partner of Trinad Capital LP; Robert S. Ellin, a managing director of and portfolio manager for Trinad Management, LLC and a managing director of Trinad Advisors II, LLC; and Jay Wolf, a managing director of and portfolio manager for Trinad Management, LLC and a managing director of Trinad Advisors II, LLC. (Continued in Footnote 2)
(2) Each such reporting person disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

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