On December 11, 2017, the Board of Directors of Forward Industries, Inc. appointed Mr. James Frost to the Board. Mr. Frost has been the Principal of Frost Chaddock Developers, LLC Mr. Frost was also appointed to the Board's Audit and Compensation Committees. Mr. Frost will participate in the Company's standard director compensation program which is described in the Company's Definitive 14A filed on December 14, 2016. Additionally, Sharon Hrynkow and N. Scott Fine resigned as directors of the Company effective December 11, 2017. Ms. Hrynkow will continue to advise the company on an ad hoc basis.