Forward Industries (FORD) 10-Q19 Aug 142014 Q3 Quarterly reportFinancial data

Company Profile

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
Document And Entity Information	Jun. 30, 2014	Aug. 01, 2014
Document and Entity Information	'	'
Entity Registrant Name	'FORWARD INDUSTRIES INC	'
Entity Central Index Key	'0000038264	'
Trading Symbol	'FORD	'
Current Fiscal Year End Date	'--09-30	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	8,195,808
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Jun. 30, 2014	Sep. 30, 2013
Current assets:	'	'
Cash and cash equivalents	$7,013,700	$6,616,995
Marketable securities	1,256,778	1,080,747
Accounts receivable	5,467,087	4,382,406
Inventories	2,396,687	2,050,710
Prepaid expenses and other current assets	537,191	390,153
Assets of discontinued operations	281,177	339,382
Total current assets	16,952,620	14,860,393
Property and equipment, net	97,800	129,987
Other assets	69,310	40,493
Total Assets	17,119,730	15,030,873
Current liabilities:	'	'
Accounts payable	1,158,057	3,433,408
Due to Forward China	4,267,782	107,785
Accrued expenses and other current liabilities	723,902	1,270,457
Liabilities of discontinued operations	7,421	25,438
Total current liabilities	6,157,162	4,837,088
Other liabilities	34,306	82,811
Total Liabilities	6,191,468	4,919,899
6% Senior Convertible Preferred Stock, par value $0.01 per share; 1,500,000 shares authorized; 648,846 shares issued and outstanding (aggregate liquidation value of $1,275,000)	804,018	716,664
Commitments and contingencies	'	'
Shareholders' equity:	'	'
Common stock, par value $0.01 per share; 40,000,000 shares authorized, 8,902,218 and 8,819,095 shares issued; and 8,195,808 and 8,112,685 shares outstanding, respectively	89,022	88,191
Additional paid-in capital	18,767,535	17,965,327
Treasury stock, 706,410 shares at cost	-1,260,057	-1,260,057
Accumulated deficit	-7,452,949	-7,378,700
Accumulated other comprehensive loss	-19,307	-20,451
Total shareholders' equity	10,124,244	9,394,310
Total liabilities and shareholders' equity	17,119,730	15,030,873
Preferred Stock	'	'
Shareholders' equity:	'	'
Preferred stock	'	'
Series A Participating Preferred Stock	'	'
Shareholders' equity:	'	'
Preferred stock	'	'

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	9 Months Ended	12 Months Ended
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Sep. 30, 2013
Senior Convertible Preferred Stock, dividend rate, percentage	6.00%	6.00%
Senior Convertible Preferred Stock, par or stated value per share (in dollars per share)	$0.01	$0.01
Senior Convertible Preferred Stock, shares authorized (in shares)	1,500,000	1,500,000
Senior Convertible Preferred Stock, shares issued (in shares)	648,846	648,846
Senior Convertible Preferred Stock, shares outstanding (in shares)	648,846	648,846
Senior Convertible Preferred Stock, liquidation preference (in dollars)	$1,275,000	$1,275,000
Common stock, par or stated value per share (in dollars per share)	$0.01	$0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	8,902,218	8,819,095
Common stock, shares outstanding (in shares)	8,195,808	8,112,685
Treasury Stock, shares (in shares)	706,410	706,410
Preferred Stock	'	'
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized (in shares)	4,000,000	4,000,000
Preferred stock, undesignated shares (in shares)	2,400,000	2,400,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Series A Participating Preferred Stock	'	'
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized (in shares)	100,000	100,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (USD $)	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME	'	'	'	'
Net sales	$9,065,568	$8,590,248	$24,180,926	$23,350,344
Cost of goods sold	7,399,430	6,796,131	19,265,957	18,619,306
Gross profit	1,666,138	1,794,117	4,914,969	4,731,038
Operating expenses:	'	'	'	'
Sales and marketing	708,793	552,973	2,050,740	1,490,678
General and administrative	925,659	767,588	2,593,919	2,612,398
Total operating expenses	1,634,452	1,320,561	4,644,659	4,103,076
Income from operations	31,686	473,556	270,310	627,962
Other expense (income):	'	'	'	'
Interest (income) expense	-8,037	120	-25,767	376
(Gain) loss on marketable securities, net	-8,904	702,377	30,528	374,160
Other (income) expense, net	7,401	-2,897	159,661	11,285
Total other expense (income), net	-9,540	699,600	164,422	385,821
Income (loss) from continuing operations before income tax expense	41,226	-226,044	105,888	242,141
Income tax expense	'	'	463	507
Income (loss) from continuing operations	41,226	-226,044	105,425	241,634
Loss from discontinued operations, net of tax expense (benefit) of $0 and $(8,977), and $0 and $(6,002), respectively	-21,317	-18,659	-35,103	-199,498
Net income (loss)	19,909	-244,703	70,322	42,136
Preferred stock dividends and accretion	-48,100	-293,450	-144,571	-293,450
Net loss applicable to common equity	-28,191	-538,153	-74,249	-251,314
Net income (loss)	19,909	-244,703	70,322	42,136
Other comprehensive income (loss):	'	'	'	'
Change in unrealized gains on marketable securities	'	'	'	23,744
Translation adjustments	111	-152	1,144	-9,353
Total other comprehensive income (loss)	111	-152	1,144	14,391
Comprehensive income (loss)	$20,020	($244,855)	$71,466	$56,527
Net loss per basic and diluted common share:	'	'	'	'
Loss from continuing operations (in dollars per share)	$0	($0.07)	($0.01)	($0.01)
Loss from discontinued operations (in dollars per share)	$0	$0	$0	($0.02)
Net loss per share (in dollars per share)	$0	($0.07)	($0.01)	($0.03)
Weighted average number of common and common equivalent shares outstanding:	'	'	'	'
Basic (in shares)	8,195,808	8,112,685	8,183,933	8,110,734
Diluted (in shares)	8,195,808	8,112,685	8,183,933	8,110,734

CONSOLIDATED_STATEMENTS_OF_OPE1

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME (Parenthetical) (USD $)	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME	'	'	'	'
Loss from discontinued operations, tax expense (in dollars)	$0	($8,977)	$0	($6,002)

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	Jun. 30, 2014	Jun. 30, 2013
Operating activities:	'	'
Net income	$70,322	$42,136
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Share-based compensation	203,110	333,236
Change in fair value of warrant liability	136,258	'
Depreciation and amortization	48,235	55,634
Realized and unrealized loss on marketable securities	30,528	374,160
Bad debt expense	'	59,915
Deferred rent	-19,369	'
Changes in operating assets and liabilities:	'	'
Accounts receivable	-1,084,680	1,277,001
Inventories	-345,977	1,188,894
Prepaid expenses and other current assets	-88,834	222,475
Other assets	-470	'
Accounts payable and due to Forward China	1,861,502	-1,735,053
Accrued expenses and other current liabilities	-85,591	-1,220,634
Other liabilities	-48,505	'
Net cash provided by operating activities	676,529	597,764
Investing activities:	'	'
Purchases of marketable securities	-5,769,609	-54,984,355
Proceeds from sales of marketable securities	5,563,050	54,648,823
Purchases of property and equipment	-16,048	-39,686
Net cash used in investing activities	-222,607	-375,218
Financing activities:	'	'
Dividends paid on senior convertible preferred stock	-57,217	'
Proceeds from the issuance of convertible preferred stock, net	'	180,808
Net cash (used in) provided by financing activities	-57,217	180,808
Net increase in cash and cash equivalents	396,705	403,354
Cash and cash equivalents at beginning of period	6,616,995	4,608,246
Cash and cash equivalents at end of period	7,013,700	5,011,600
Cash paid for:	'	'
Income taxes	'	507
Supplemental Disclosures of Non-Cash Financing Activity:	'	'
Preferred stock accretion	87,354	'
Reclassification of warrant liability, net	599,929	'
Receivable from issuance of convertible preferred stock	'	$499,995

OVERVIEW

OVERVIEW	9 Months Ended
OVERVIEW	Jun. 30, 2014
OVERVIEW	'
OVERVIEW	'
	NOTE 1 OVERVIEW
	Forward Industries, Inc. (“Forward” or the “Company”) was incorporated under the laws of the State of New York and began operations in 1961 as a manufacturer and distributor of specialty and promotional products. The Company designs, markets, and distributes carry and protective solutions, primarily for hand held electronic devices. The Company's principal customer market is original equipment manufacturers, or “OEMs” (or the contract manufacturing firms of these OEM customers), that either package its products as accessories “in box” together with their branded product offerings, or sell them through their retail distribution channels. The Company's OEM products include carrying cases and other accessories for medical monitoring and diagnostic kits and a variety of other portable electronic and non-electronic products (such as sporting & recreational products, bar code scanners, smartphones, GPS location devices, tablets, and firearms). The Company's OEM customers are located in the Americas, Europe, and the APAC Region. The Company does not manufacture any of its OEM products and sources substantially all of its OEM products from independent suppliers in China (refer to Note 10 – “Buying Agency and Supply Agreement”).
	On June 21, 2012, the Company determined to exit its global Retail business and focus solely on growing its OEM business. The decision to eliminate the Retail division was primarily driven by the longer than estimated path to bring it to profitability and the strong top line growth and cost rationalizations in the OEM business. The Retail business is presented as discontinued operations.
	In the opinion of management, the accompanying consolidated financial statements presented in this Quarterly Report on Form 10-Q reflect all normal recurring adjustments necessary to present fairly the financial position and results of operations and cash flows for the interim periods presented herein, but are not necessarily indicative of the results of operations for the fiscal year ending September 30, 2014. These consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements included in its Annual Report on Form 10-K for the fiscal year ended September 30, 2013, and with the disclosures and risk factors presented herein and therein, respectively. The September 30, 2013 consolidated balance sheet has been derived from the audited consolidated financial statements.

ACCOUNTING_POLICIES

ACCOUNTING POLICIES	9 Months Ended
ACCOUNTING POLICIES	Jun. 30, 2014
ACCOUNTING POLICIES	'
ACCOUNTING POLICIES	'
	NOTE 2 ACCOUNTING POLICIES
	Accounting Estimates
	The preparation of the Company's consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates and assumptions.
	Basis of Presentation
	The accompanying consolidated financial statements include the accounts of Forward and its wholly owned subsidiaries (Forward US, Forward Switzerland, and Forward UK). All significant intercompany transactions and balances have been eliminated in consolidation.
	Reclassifications
	Certain prior period amounts have been reclassified to conform to the current period presentation.
	6% Senior Convertible Preferred Stock
	Warrants
	In accordance with ASC 815-40, the Company's warrants were previously classified as a liability, at fair value, as a result of a related registration rights agreement that contains certain requirements for registering the underlying common shares, but has no provision for penalties upon the failure to register. At each balance sheet date, this liability's fair value was re-measured and adjusted with the corresponding change in fair value recorded in the consolidated statement of operations and comprehensive (loss) income. As the Company has met the requirements for registering the underlying common shares, the fair value of the warrants has been reclassified to additional paid-in capital in the accompanying consolidated balance sheet at March 31, 2014. The liability associated with the warrants was previously included in “Accrued expenses and other current liabilities” in the consolidated balance sheet at September 30, 2013.

DISCONTINUED_OPERATIONS

DISCONTINUED OPERATIONS	9 Months Ended
DISCONTINUED OPERATIONS	Jun. 30, 2014
DISCONTINUED OPERATIONS	'
DISCONTINUED OPERATIONS	'
	NOTE 3 DISCONTINUED OPERATIONS
	On June 21, 2012, the Company determined to exit its global Retail business and focus solely on growing its OEM business. The decision to eliminate the Retail division was primarily driven by the longer than estimated path to bring it to profitability and the strong net sales growth and cost rationalizations in the OEM business. The Company has substantially completed its exit of its Retail business as of March 31, 2013. The Company has not had, and does not expect to have, any continuing involvement in the Retail business after this date. Accordingly, the results of operations for the Retail division have been recorded as discontinued operations in the accompanying consolidated financial statements for the fiscal periods presented. Net loss from discontinued operations for the three-month periods ended June 30, 2014 and 2013 was approximately $21,000 and $19,000, respectively. Net loss from discontinued operations for the nine-month periods ended June 30, 2014 and 2013 was approximately $35,000 and $199,000, respectively.
	Assets of discontinued operations as of June 30, 2014, include approximately $280,000 relating to expected payments pursuant to a Settlement Agreement and General Release (“Settlement Agreement”) executed on July 3, 2013 between the Company and G-Form LLC (“G-Form”) in exchange for certain retail inventories, the Company's cooperation with certain administrative matters, and a mutual general release.

MARKETABLE_SECURITIES

MARKETABLE SECURITIES	9 Months Ended
MARKETABLE SECURITIES	Jun. 30, 2014
MARKETABLE SECURITIES.	'
MARKETABLE SECURITIES	'
	NOTE 4 MARKETABLE SECURITIES
	The Company classifies its marketable securities as either (i) held-to-maturity, (ii) trading, or (iii) available-for-sale. Effective October 1, 2012, the Company changed its classification of marketable equity securities and corporate bonds from available-for-sale to trading. As a result of this reclassification, a gross gain of $4,764 and a gross loss of $(28,508) was reclassed out of accumulated other comprehensive income (loss) and charged to earnings using a specific identification basis. Equity securities are carried at fair value, as determined by quoted market prices, which is a Level 1 input, as established by the fair value hierarchy under ASC 820. Corporate bonds are carried at amortized cost, which approximates market value. The corresponding unrealized holding gains or losses are recognized in earnings. The Company's marketable securities are summarized in the table below.

		June 30,			September 30,
		2014			2013
	Trading:
	Cost	$	1,314,092		$	954,053
	Unrealized Gains		58,498			174,940
	Unrealized Losses		(115,812	)		(48,246	)
	Total Fair Value	$	1,256,778		$	1,080,747
	The net gain (loss) on marketable securities for the three-month periods ended June 30, 2014 and 2013 was approximately $9,000 and $(702,000), respectively. The net loss on marketable securities for the nine-month periods ended June 30, 2014 and 2013 was approximately $(31,000) and $(374,000), respectively. The net (loss) gain on marketable securities is included in the accompanying consolidated statements of operations and comprehensive (loss) income.
	The following table presents the Company's fair value hierarchy for assets, consisting of marketable securities, measured at fair value on a recurring basis at June 30, 2014 and September 30, 2013:
		Level 1			Level 2			Level 3		Total

	Equity securities	$	1,256,778			--			--	$	1,256,778
	Total assets at fair value at June 30, 2014	$	1,256,778			--			--	$	1,256,778

	Equity securities	$	1,080,747			--			--	$	1,080,747
	Total assets at fair value at September 30, 2013	$	1,080,747			--			--	$	1,080,747

SHAREHOLDERS_EQUITY

SHAREHOLDERS' EQUITY	9 Months Ended
SHAREHOLDERS' EQUITY	Jun. 30, 2014
SHAREHOLDERS' EQUITY	'
SHAREHOLDERS' EQUITY	'
	NOTE 5 SHAREHOLDERS' EQUITY
	“Blank Check” Preferred Stock
	The Company is authorized to issue up to 4,000,000 shares of “blank check” preferred stock. The Board of Directors (the “Board”) has the authority and discretion, without shareholder approval, to issue preferred stock in one or more series for any consideration it deems appropriate, and to fix the relative rights and preferences thereof including their redemption, dividend and conversion rights. Of these shares, 1,500,000 shares have been authorized as the 6% Senior Convertible Preferred Stock and 100,000 shares have been authorized as the Series A Participating Preferred Stock.
	6% Senior Convertible Preferred Stock with Warrants
	On June 28, 2013, the Company completed the sale of (i) 381,674 shares of its newly authorized 6% Senior Convertible Preferred Stock, par value $0.01 per share (the “Convertible Preferred Stock”) and (ii) warrants to purchase a total of 381,674 shares of the Company's common stock (“Common Stock”) (the “Warrants” and together with the Convertible Preferred Stock, the “Securities”) to accredited investors in a private placement pursuant to the terms of securities purchase agreements, dated June 28, 2013, by and between the Company and each Investor. The June 28, 2013 private placement included purchases of Securities by two directors of the Company that, in the aggregate, purchased 114,502 shares of Convertible Preferred Stock and Warrants.
	6% Senior Convertible Preferred Stock with Warrants (Continued)
	On August 7, 2013, the Company completed the sale of (i) an additional 216,282 shares of its Convertible Preferred Stock and (ii) Warrants to purchase a total of 216,282 shares of the Company's Common Stock to accredited investors in a private placement pursuant to the terms of a securities purchase agreement, dated August 7, 2013, by and between the Company and such accredited investors.
	On August 14, 2013, the Company completed the sale of (i) an additional 50,890 shares of its Convertible Preferred Stock and (ii) Warrants to purchase a total of 50,890 shares of the Company's Common Stock to accredited investors in a private placement pursuant to the terms of a securities purchase agreement, dated August 14, 2013, by and between the Company and such accredited investors.
	The total aggregate purchase price paid by accredited investors via the June 28, 2013, August 7, 2013 and August 14, 2013 private placements (together, the “Investors”) for each share of Convertible Preferred Stock and Warrant was $1.965. The June 28, 2013, August 7, 2013 and August 14, 2013 private placements (together, the “Private Placements”) resulted in gross proceeds of approximately $1,275,000 to the Company. The Company has sold a total of 648,846 shares of Convertible Preferred Stock and Warrants to purchase 648,846 shares of Common Stock through these Private Placements. The Company may sell additional shares of Convertible Preferred Stock, together with related Warrants, in one or more subsequent closings.
	The total purchase price paid by the Investors for each share of Convertible Preferred Stock and Warrant purchased in the Closing was $1.965, consisting of (i) fair values ranging from $1.105 to $1.145 in respect of the Convertible Preferred Stock, plus (ii) fair values ranging from $0.82 to $0.86 in respect of the Warrant. The Warrants have an initial exercise price of $1.84 per share, subject to adjustment upon the occurrence of certain customary events. The Warrants are exercisable at any time on or after January 1, 2014 (the “Initial Exercise Date”) and terminate on the 10-year anniversary of the Initial Exercise Date. Each share of Convertible Preferred Stock is convertible into one share of Common Stock at an initial conversion price of $1.84 per share, subject to adjustment upon the occurrence of certain customary events (the “Conversion Price”). At the initial Conversion Price, the total of 648,846 shares of Convertible Preferred Stock issued in the Private Placement as of the date of the Closing are convertible into an aggregate of 692,919 shares of Common Stock. The proceeds from these Private Placements of $1,275,000 have been allocated to the Convertible Preferred Stock and the Warrants based upon their fair values assigned (net of issuance costs of approximately $69,000) of approximately $693,000 and $513,000, respectively, as of the dates of issuance.
	As of June 30, 2014 and September 30, 2013, the carrying value of the Convertible Preferred Stock was approximately $804,000 and $717,000, respectively, and is included on the Company's consolidated balance sheets as temporary equity. The change in the carrying value, or accretion, of the Convertible Preferred Stock from the issuance dates to June 30, 2014 is classified as a preferred stock dividend and is included as a component of “Net (loss) income applicable to common equity” in calculating loss per share, which was approximately $29,000 and $87,000 for the three and nine- month periods ended June 30, 2014. As a result of the Convertible Preferred Stock containing a beneficial conversion feature, whereby the accounting conversion price is lower than the fair value of the common stock, the Company recorded a preferred stock dividend in the amount of approximately $508,000 for the fiscal year ended September 30, 2013. This amount has been recorded as an increase to additional paid-in capital.
	Dividends on the Convertible Preferred Stock are payable, on a cumulative basis, in cash, at the rate per annum of 6% of the Liquidation Preference (as defined below) and are payable quarterly, in arrears, on each March 31, June 30, September 30 and December 31, which commenced on September 30, 2013. The Company is prohibited from paying any dividend with respect to shares of Common Stock or other junior securities in any quarter unless full dividends are paid on the Convertible Preferred Stock in such quarter. Dividends on the Convertible Preferred Stock totaled approximately $19,000 and $57,000 for the three and nine-month periods ended June 30, 2014. These dividends, in addition to the accretion, totaled approximately $48,000 and $145,000 for the three and nine-month periods ended June 30, 2014.
	6% Senior Convertible Preferred Stock with Warrants (Continued)
	In the event of a liquidation (or deemed liquidation, as described below) of the Company, the holders of the Convertible Preferred Stock shall receive in preference to the holders of Common Stock and any junior securities of the Company an amount (the “Liquidation Preference”) equal to (i) $1.965 (the “Original Issue Price”) per each outstanding share of Convertible Preferred Stock (subject to adjustment upon the occurrence of certain customary events), plus (ii) any accrued but unpaid dividends. A Change of Control of the Company (as defined in the Certificate of Amendment) will be treated as a liquidation at the option of the holders of a majority of the Convertible Preferred Stock; provided that the amount paid to holders of Convertible Preferred Stock in such event will be equal to 101% of the Original Issue Price, plus accrued but unpaid dividends.
	Each share of Convertible Preferred Stock is convertible at any time, at the option of the holder, into shares of Common Stock at the then applicable Conversion Price. In addition, upon the consent of 80% of the holders of the Convertible Preferred Stock, the Convertible Preferred Stock automatically will be converted to shares of Common Stock at the then-applicable Conversion Price.
	On or after June 28, 2018, the Company may, at its option and upon at least 30 days prior written notice to the holders of the Convertible Preferred Stock, redeem all or any portion of the outstanding Convertible Preferred Stock in cash at a redemption price equal to the full Liquidation Preference as of the redemption date. In addition, at any time on or after June 28, 2023, each holder of the Convertible Preferred Stock will have the right to require the Company to redeem (provided that funds are legally available to do so) all or any portion of such holder's outstanding Convertible Preferred Stock at a redemption price equal to the full Liquidation Preference of such shares of Convertible Preferred Stock as of the redemption date.
	The Convertible Preferred Stock will vote together with the Common Stock on an as-converted basis on all matters except as required by law. In addition, for so long as 50% of the shares of Convertible Preferred Stock remains outstanding, without the approval of the holders of a majority of the Convertible Preferred Stock, voting as a separate class, the Company may not: (i) authorize or issue any equity security senior to the Convertible Preferred Stock; (ii) declare or pay any dividends on the Common Stock or any series of preferred stock that ranks junior to the Convertible Preferred Stock; (iii) increase or decrease the total number of authorized shares of Convertible Preferred Stock; (iv) alter or change the rights, preferences or privileges of the Convertible Preferred Stock so as to affect materially and adversely the Convertible Preferred Stock; or (v) increase the authorized capitalization of the Company, or otherwise amend its certificate of incorporation or bylaws in a manner which adversely affects the rights or preferences of the Convertible Preferred Stock.
	During the quarter ended March 31, 2014, the Company met the requirements of the registration rights agreement for registering the underlying common shares, therefore the then fair value of the warrants of $600,000 (net of issuance costs) was reclassified to additional paid-in capital in the accompanying consolidated balance sheet at March 31, 2014. As of September 30, 2013, the liability associated with the warrants was approximately $464,000 (net of issuance costs) and was included in “Accrued expenses and other current liabilities” in the Company's consolidated balance sheet.
	6% Senior Convertible Preferred Stock with Warrants (Continued)
	The fair value of the Warrants was determined using a Black-Scholes closed-form call option pricing model, which is considered a level 3 instrument under the fair value hierarchy. The fair values of the Warrants were estimated using the following assumptions as of March 31, 2014 (the date of the reclassification) and September 30, 2013:
		March 31, 2014				September 30, 2013
	Risk-free interest rate		2.7	%			2.6	%
	Dividend yield		--				--
	Volatility		32.9	%			30	%
	Expected term (in years)		9.75				10.3
	The change in the fair value of the convertible preferred stock warrant liability for the nine months ended June 30, 2014 is summarized below:
	Balance at September 30, 2013	$	493,123
	Increase in fair value		136,258
	Reclassification of fair value of warrants at March 31, 2014		(629,381	)
	Balance at June 30, 2014	$	0

	The following table presents the Company's fair value hierarchy for liabilities, consisting of a warrant liability, measured at fair value, prior to issuance costs, at September 30, 2013 (as noted above the fair value of the warrants liability was reclassified to additional paid-in capital at March 31, 2014).
		Level 1				Level 2					Level 3				Total
	Warranty liability at September 30, 2013	$	--			$	--				$	493,123			$	493,123

	Anti-takeover Provisions
	Shareholder Rights Plan
	On April 26, 2013, the Board adopted a Shareholder Rights Plan, as set forth in the Rights Agreement dated as of April 26, 2013 (the “Rights Agreement”), between the Company and American Stock Transfer & Trust Company, LLC, as Rights Agent. Pursuant to the Rights Agreement, the Board declared a dividend distribution of one Right (a “Right”) for each outstanding share of Company Common Stock, par value $0.01 per share (the “Common Stock”) to shareholders of record at the close of business on May 6, 2013, which date will be the record date, and for each share of Common Stock issued (including shares distributed from treasury) by the Company thereafter and prior to the Distribution Date (as described below and defined in the Rights Agreement). Each Right entitles the registered holder, subject to the terms of the Rights Agreement, to purchase from the Company one one-thousandth of a share of Series A Participating Preferred Stock, $0.01 par value per share (the “Series A Preferred Stock”), at an exercise price of $4.00 per one one-thousandth of a share of Series A Preferred Stock, subject to adjustment.
	Anti-takeover Provisions (Continued)
	Shareholder Rights Plan (Continued)
	Initially, no separate Rights Certificates will be distributed and instead the Rights will attach to all certificates representing shares of outstanding Common Stock. Subject to certain exceptions specified in the Rights Agreement, the Rights will separate from the Common Stock and become exercisable on the distribution date (the “Distribution Date”), which will occur on the earlier of (i) the 10th business day (or such later date as may be determined by the Board) after the public announcement that an Acquiring Person (as defined in the Rights Agreement) has acquired beneficial ownership of 20% or more of the Common Stock then outstanding or (ii) the 10th business day (or such later date as may be determined by the Board) after a person or group announces a tender or exchange offer that would result in a person or group of affiliated and associated persons beneficially owning 20% or more of the Common Stock then outstanding.
	“Blank Check” Preferred Stock
	As discussed above, the Company is authorized to issue up to 4,000,000 shares of “blank check” preferred stock. The Board has the authority and discretion, without shareholder approval, to issue preferred stock in one or more series for any consideration it deems appropriate, and to fix the relative rights and preferences thereof including their redemption, dividend and conversion rights. Of these shares, 1,500,000 shares have been authorized as the 6% Senior Convertible Preferred Stock and 100,000 shares have been authorized as the Series A Participating Preferred Stock.
	Stock Repurchase
	In September 2002 and January 2004, the Board authorized the repurchase of up to an aggregate of 486,200 shares of outstanding common stock. Under those authorizations, as of June 30, 2014, the Company had repurchased an aggregate of 172,603 shares at a cost of approximately $403,000, but none during the three and nine-month periods ended June 30, 2014 and 2013.
	Changes in Shareholders' Equity
	Changes in shareholders' equity for the nine-month period ended June 30, 2014 are summarized below:
					Common Stock														Treasury Stock
		Total			Number of Shares				Par Value				Additional Paid-in			Retained Earnings (Accumulated Deficit)			Number of		Amount			Accumulated Other Comprehensive Income (Loss)
		Total			Number of Shares				Par Value				Capital			Retained Earnings (Accumulated Deficit)			Shares		Amount			Accumulated Other Comprehensive Income (Loss)
	Balance at September 30, 2013	$	9,394,310			8,819,095			$	88,191			$	17,965,327		$	(7,378,700	)		706,410	$	(1,260,057	)	$	(20,451	)
	Share-based compensation		203,110			83,123				831				202,279			--			--		--			--
	Preferred stock accretion and dividends		(144,571	)		--				--				--			(144,571	)		--		--			--
	Foreign currency translation		1,144			--				--				--			--			--		--			1,144
	Reclassification of Warrant liability		599,929			--				--				599,929			--			--		--			--
	Net income		70,322			--				--				--			70,322			--		--			--
	Balance at June 30, 2014	$	10,124,244			8,902,218			$	89,022			$	18,767,535		$	(7,452,949	)		706,410	$	(1,260,057	)	$	(19,307	)
	13

SHAREBASED_COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
SHARE-BASED COMPENSATION	Jun. 30, 2014
SHARE-BASED COMPENSATION.	'
SHARE-BASED COMPENSATION	'
	NOTE 6 SHARE-BASED COMPENSATION
	2011 Long Term Incentive Plan
	In March 2011, shareholders of the Company approved the 2011 Long Term Incentive Plan (the “2011 Plan”), which authorizes 850,000 shares of common stock for grants of various types of equity awards to officers, directors, employees, consultants, and independent contractors. Under the 2011 Plan, as of June 30, 2014, the Compensation Committee of the Company's Board of Directors (the “Compensation Committee”) has approved grants of restricted common stock and stock options to purchase an aggregate of 1,427,500 shares of common stock to certain of the Company's executive officers and employees (1,132,500 shares), a consultant (160,000 shares), non-employee directors (130,000 shares), and to a non-employee executive officer (5,000 shares). Of these awards, as of June 30, 2014, 585,647 shares were forfeited and reverted to, and are eligible for re-grant under, the 2011 Plan. The total shares of common stock available for grants of equity awards under the 2011 Plan was 8,147 as of June 30, 2014. The prices at which equity awards may be granted and the exercise prices of stock options granted may not be less than the fair market value of the common stock as quoted at the close on the Nasdaq Stock Market on the grant date. The Compensation Committee administers the 2011 Plan. Options generally expire ten years after the date of grant and vest one year from the date of grant for non-employee directors, and, in the case of initial grants to officers and employees, vest over five years with 50%, 25% and 25% vesting on the third, fourth, and fifth anniversary of the grant date, respectively. Options granted under a consulting agreement in November 2011 expire three years after the grant date and vested equally over the term of the consulting agreement, which concluded February 29, 2012.
	2007 Equity Incentive Plan
	The 2007 Equity Incentive Plan (the “2007 Plan”), which was approved by shareholders of the Company in May 2007, and, as amended in February 2010, authorizes an aggregate of 800,000 shares of common stock for grants of restricted common stock and stock options to officers, employees, and non-employee directors of the Company. Under the 2007 Plan, the Compensation Committee approved awards of restricted common stock and stock options of 992,375, in the aggregate, to certain officers, employees and non-employee directors. Of these awards, as of June 30, 2014, 307,390 shares were forfeited and reverted to, and are eligible for re-grant under, the 2007 Plan. The total shares of common stock available for grants of equity awards under the 2007 Plan was 115,015 as of June 30, 2014. The prices at which restricted common stock may be granted and the exercise price of stock options granted may not be less than the fair market value of the common stock as quoted at the close on the Nasdaq Stock Market on the grant date. The Compensation Committee administers the 2007 Plan. Options generally expire ten years after the date of grant, and in the case of non-employee directors, vest on the first anniversary of the date of grant. In the case of officers and employees, options either vest in equal amounts over three to five years or vest over five years with 50%, 25% and 25% vesting on the third, fourth, and fifth anniversary of the grant date, respectively. Restricted stock grants generally vest in equal proportions over three years.
	1996 Stock Incentive Plan
	The Company's 1996 Stock Incentive Plan (the “1996 Plan”) expired in accordance with its terms in November 2006. The exercise price of incentive options granted under the 1996 Plan to officers, employees, and non-employee directors of the Company was required by 1996 Plan provisions to be equal at least to the fair market value of the common stock at the date of grant. In general, options under this plan expire ten years after the date of grant and generally vest in equal proportions over three years. Unexercised options granted prior to 1996 Plan expiration remain outstanding until the earlier of exercise or option expiration. Under the 1996 Plan, 30,000 fully vested common stock options are the only awards that remain outstanding and unexercised, all at exercise prices higher than the fair market value of the common stock at June 30, 2014.
	Stock Option Awards
	Under the 2011 and 2007 Plans, the Compensation Committee has approved awards of stock options to purchase an aggregate of 1,770,000 shares of common stock to the Company's current and certain former non-employee directors, to certain key employees, to current and certain former Company officers, and to a consultant, of which awards covering 255,000 shares from the 2007 Plan and 559,000 shares from the 2011 Plan of common stock were forfeited, with such shares reverting to the respective plans and eligible for grant. The exercise prices of the awards granted was, in each case equal, to the closing market value of the Company's common stock on the Nasdaq Stock Market on the various grant dates.
	The Company recognized compensation expense of approximately $13,000 and $48,000 in continuing operations for stock option awards in its consolidated statements of operations and comprehensive (loss) income for the three-month periods ended June 30, 2014 and 2013, respectively, and $79,000 and $176,000 for the nine-month periods ended June 30, 2014 and 2013, respectively.
	As of June 30, 2014, there was approximately $71,000 of total unrecognized compensation cost related to 199,418 shares of unvested stock option awards granted under the 2007 and 2011 Plans, which is expected to be recognized over the remainder of the weighted average vesting period (extending to August 2016).

		Shares				Weighted Average			Weighted Average
						Exercise Price			Remaining Contractual Term (Years)

											Aggregate Intrinsic Value
	Outstanding at September 30, 2013		897,000			$	2.98			6.1	$	--
	Granted		32,500				1.59
	Exercised		--				--
	Forfeited		(28,500	)			3.61
	Expired		--				--
	Outstanding at June 30, 2014		901,000			$	2.91			5.4	$	--

	Options expected to vest at June 30, 2014		179,476			$	3.75			7.7	$	--

	Options vested and exercisable at June 30, 2014		701,582			$	3.01			4.8	$	--

	The Company did not grant any stock options during the three-month period ended June 30, 2014. During the nine-month period ended June 30, 2014, the Company granted 32,500 stock options at a weighted average grant date fair value of $0.90. During the nine-month period ended June 30, 2013, the Company granted 120,000 stock options at a weighted average grant date fair value of $0.61.
	Stock Option Awards (Continued)
	The fair value of each stock option on the date of grant was estimated using the Black-Scholes option-pricing formula applying the following assumptions for each respective period:
		For the Nine-Month
		Periods Ended June 30,
		2014					2013
	Expected term (in years)	5						5
	Risk-free interest rate	1.50%						0.6% – 0.7%
	Expected volatility	67.60%						70.0% - 70.4%
	Expected dividend yield	0%						0%
	Forfeiture rate	10%						5%
	The expected term represents the period over which the stock option awards are expected to be outstanding. The Company based the risk-free interest rate used in its assumptions on the implied yield currently available on U.S. Treasury zero-coupon issues with a remaining term equivalent to the award's expected term. The volatility factor used in the Company's assumptions is based on the historical price of its stock over the most recent period commensurate with the expected term of the award. The Company historically has not paid any dividends on its common stock and had no intention to do so on the date the share-based awards were granted. Accordingly, the Company used a dividend yield of zero in its assumptions. The Company estimates the expected term, volatility and forfeitures of share-based awards based upon historical data.
	Restricted Stock Awards
	Under the 2011 Plan and 2007 Plan, the Compensation Committee has approved and granted awards of 649,875 shares of restricted stock, in the aggregate, to certain key employees and current non-employee directors. Of these awards, 283,928 shares have vested, 40,671 shares have been forfeited, and 38,366 shares have expired. Such forfeited and expired shares have reverted to, and are eligible for re-grant under, the 2007 Plan. Vesting of restricted stock awards is generally subject to a continued service condition with one-third of the awards vesting each year on the three successive anniversary dates of the grant date, typically commencing on the first such anniversary date. The fair value of the awards granted was equal to the closing market value of the Company's common stock as quoted on the Nasdaq Stock Market on the grant date. During the three-month periods ended June 30, 2014 and 2013, the Company recognized approximately $62,000 and $59,000, respectively, of compensation in continuing operations in its consolidated statements of operations and comprehensive (loss) income related to restricted stock awards. During the nine-month periods ended June 30, 2014 and 2013, the Company recognized approximately $124,000 and $157,000, respectively, of compensation in continuing operations in its consolidated statements of operations and comprehensive (loss) income related to restricted stock awards.
	The following table summarizes restricted stock activity under the 2011 Plan and 2007 Plan from September 30, 2013 through June 30, 2014:
							Weighted Average Grant Date Fair Value


			Shares
	Non-vested balance at September 30, 2013			371,375			$	1.16
	Changes during the period:
	Shares granted			95,000				1.59
	Shares vested			(83,123	)			1.16
	Shares forfeited			(40,671	)			1.16
	Shares expired			(15,000	)			1.16
	Non-vested balance at June 30, 2014			327,581			$	1.29
	As of June 30, 2014, there was approximately $138,000 of total unrecognized compensation cost related to shares of unvested restricted stock awards (reflected in the table above) granted under the 2011 Plan and 2007 Plan. That cost is expected to be recognized over the remainder of the requisite service (vesting) periods (through November 2016). The total grant date fair value of restricted stock that vested during the nine-month period ended June 30, 2014 was approximately $96,000.
	Warrants
	As of June 30, 2014, warrants to purchase 75,000 shares of the Company's common stock at an exercise price of $1.75 issued in fiscal year ended 1999 were outstanding. By their terms these warrants expire 90 days after a registration statement registering common stock (other than pursuant to employee benefit plans) is declared effective by the Commission. As of June 30, 2014, no such registration statement has been filed with the Commission.

INCOME_TAXES

INCOME TAXES	9 Months Ended
INCOME TAXES	Jun. 30, 2014
INCOME TAXES	'
INCOME TAXES	'
	NOTE 7 INCOME TAXES
	As of June 30, 2014, and September 30, 2013, the Company has no unrecognized income tax benefits. At June 30, 2014, the Company had available total net operating loss carryforwards for U.S. Federal and state income tax purposes of approximately $7,626,000 and $3,613,000, respectively, expiring through 2034, resulting in deferred tax assets in respect of U.S. Federal and state income taxes of approximately $2,457,000 and $326,000, respectively. In addition, at June 30, 2014, the Company had total available net operating loss carryforwards for foreign income tax purposes of approximately $4,708,000 resulting in a deferred tax asset of approximately $414,000, expiring through 2020. Total net deferred tax assets, before valuation allowances, was $3,841,000 at June 30, 2014 and September 30, 2013. Undistributed earnings of the Company's foreign subsidiaries are considered to be permanently invested; therefore, in accordance with U.S. generally accepted accounting principles, no provision for U.S. Federal and state income taxes would result. As of June 30, 2014, there were no accumulated earnings of any of the Company's foreign subsidiaries.
	As of June 30, 2014, as part of its periodic evaluation of the necessity to maintain a valuation allowance against its deferred tax assets, and after consideration of all factors, both positive and negative (including, among others, projections of future taxable income, current year net operating loss carryforward utilization and the extent of the Company's cumulative losses in recent years), the Company determined that, on a more likely than not basis, it would not be able to use its remaining deferred tax assets (except in respect of United States income taxes in the event the Company elects to effect the repatriation of certain foreign source income of its Swiss subsidiary, which income is currently considered to be permanently invested and for which no United States tax liability has been accrued). Accordingly, the Company has determined to maintain a full valuation allowance against its total deferred tax assets. As of June 30, 2014 and September 30, 2013, the valuation allowances were approximately $3,841,000. If the Company determines in a future reporting period that it will be able to use some or all of its deferred tax assets, the adjustment to reduce or eliminate the valuation allowance would reduce its tax expense and increase after-tax income. Changes in deferred tax assets and valuation allowance are reflected in the “Income tax expense (benefit)” line item of the Company's consolidated statements of operations and comprehensive (loss) income. Based on the expected level of taxable income for the fiscal year ending September 30, 2014 and the availability of the aforementioned net operating loss carryforward, the Company's effective tax rate is immaterial.
	All fiscal years prior to the fiscal year ended September 30, 2010 are closed to Federal and State examination, except with respect to net operating losses generated in prior fiscal years.

LOSS_INCOME_PER_SHARE

(LOSS) INCOME PER SHARE	9 Months Ended
(LOSS) INCOME PER SHARE	Jun. 30, 2014
(LOSS) INCOME PER SHARE	'
(LOSS) INCOME PER SHARE	'
	NOTE 8 (LOSS) INCOME PER SHARE
	Basic per share data for each period presented is computed using the weighted-average number of shares of common stock outstanding during each such period. Diluted per share data is computed using the weighted-average number of common and dilutive common-equivalent shares outstanding during each period. Dilutive common-equivalent shares consist of shares that would be issued upon the exercise of stock options and conversion of 6% Senior Convertible Preferred Stock and warrants computed using the if-converted method. Diluted (loss) income per share data for the three-month periods ended June 30, 2014 and 2013, exclude 1,624,846 and 1,650,487 of outstanding common-equivalent shares as inclusion of such shares would be anti-dilutive. Diluted income per share data for the nine-month periods ended June 30, 2014 and 2013, exclude 1,532,346 and 1,650,487 of outstanding common-equivalent shares as inclusion of such shares would be anti-dilutive.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2014
COMMITMENTS AND CONTINGENCIES.	'
COMMITMENTS AND CONTINGENCIES	'
	NOTE 9 COMMITMENTS AND CONTINGENCIES
	Employment and Agreements
	Robert Garrett, Jr. Employment Agreement
	Under his employment agreement, which was effective as of March 1, 2012, Mr. Robert Garrett, Jr. is currently employed as the Company's Chief Executive Officer and his annual salary is $250,000 (and effective March 1, 2014, $300,000 per annum). In executing his employment agreement, Mr. Garrett received a signing bonus of $9,167. During the fiscal year ended September 30, 2012 (Mr. Garrett's first year of employment), he received a bonus of $50,000. In addition, during each year of his employment, Mr. Garrett is eligible to receive an annual bonus at the discretion of the Compensation Committee in a combination of cash or equity-based compensation. Mr. Garrett received a total bonus of $100,000 for the fiscal year ended September 30, 2013. Mr. Garrett's employment agreement also entitles him to awards of stock options to purchase an aggregate of 200,000 shares of the Company's common stock pursuant to the 2011 Plan, which have been granted in their entirety.
	Employment and Agreements (Continued)
	Robert Garrett, Jr. Employment Agreement (Continued)
	Mr. Garrett's employment agreement provides for successive one-year renewal terms, unless either party provides written notice of its intention not to renew the agreement not later than 90 days prior to the end of the term (or renewal period). In the event of the termination of Mr. Garrett's employment, depending on the circumstances, Mr. Garrett could be entitled to receive a severance payment which could be up to (12) twelve months of his salary, and under certain circumstances, the immediate vesting of any unvested options pursuant to applicable equity compensation plans, as well as any accrued discretionary bonus.
	Mr. Garrett's employment agreement binds him to customary non-competition and non-solicitation covenants of up to one year following the expiration of the employment term.
	James O. McKenna III Employment Agreement
	James O. McKenna III serves as the Company's Chief Financial Officer, Treasurer and Assistant Secretary pursuant to an Amended Employment Agreement, dated as of April 1, 2011 (the “Employment Agreement”), between the Company and Mr. McKenna. On November 8, 2012, Mr. McKenna's Employment Agreement was further amended (the “Amendment”) in connection with the logistical coordination, planning and implementation of the move of the Company's executive offices to West Palm Beach, Florida from Santa Monica, California, and his relocation from California to Florida at the Company's request. Among other things, the Amendment reduced his base salary to $210,000 per annum from $225,000 per annum, eliminated his housing allowance of $90,000 per annum (paid pursuant to the Employment Agreement), and provided for a bonus payment in the amount of $172,456, less applicable withholdings and deductions, all subject to the provisions provided in the Amendment. Approximately $86,000 of such bonus payment was attributed as a bonus to Mr. McKenna in the fiscal year ended September 30, 2012, and half of the remainder was attributed to Mr. McKenna's bonus in the fiscal year ended September 30, 2013. Mr. McKenna received a total bonus of $86,000 for the fiscal year ended September 30, 2013. Of this bonus, half represented a cash payout and the other half reduced a portion of the remainder of Mr. McKenna's bonus prepayment from the fiscal year ended September 30, 2012 as previously described. The Company expensed the remainder as an estimated bonus for Mr. McKenna in continuing operations for the fiscal year ended September 30, 2013. The Employment Agreement automatically renewed on December 31, 2013 for one year with an automatic renewal for successive terms of one year each. Pursuant to the Employment Agreement, Mr. McKenna is entitled to a payment equal to one year of his salary as severance in the event of his termination “without cause” and termination for “good reason” (as such terms are defined in the Employment Agreement).
	Guarantee Obligation
	In February 2010, Forward Switzerland and its European logistics provider (freight forwarding and customs agent) entered into a Representation Agreement (the “Representation Agreement”) whereby, among other things, the European logistics provider agreed to act as Forward Switzerland's Fiscal representative in The Netherlands for the purpose of providing services in connection with any value added tax matters. As part of this agreement, which succeeds a substantially similar agreement (except as to the amount and term of the undertaking) between the parties that expired June 30, 2009, Forward Switzerland agreed to provide an undertaking (in the form of a bank letter of guarantee) to the logistics provider with respect to any value added tax liability arising in The Netherlands that the logistics provider is required to pay to Dutch tax authorities on its behalf.
	Guarantee Obligation (Continued)
	As of February 1, 2010, Forward Switzerland entered into a guarantee agreement with a Swiss bank relating to the repayment of any amount up to €75,000 (equal to approximately $104,000 as of June 30, 2014) paid by such bank to the logistics provider in order to satisfy such undertaking pursuant to the bank letter of guarantee. Forward Switzerland would be required to perform under the guarantee agreement only in the event that: (i) a value added tax liability is imposed on the Company's sales in The Netherlands, (ii) the logistics provider asserts that it has been called upon in its capacity as surety by the Dutch Receiver of Taxes to pay such taxes, (iii) Forward Switzerland or the Company on its behalf fails or refuses to remit the amount of value added tax due to the logistics provider upon its demand, and (iv) the logistics provider makes a drawing under the bank letter of guarantee. Under the Representation Agreement, Forward Switzerland agreed that the letter of guarantee would remain available for drawing for three years following the date that its relationship terminates with the logistics provider to satisfy any value added tax liability arising prior to expiration of the Representation Agreement but asserted by The Netherlands after expiration.
	The initial term of the bank letter of guarantee expired February 28, 2011, but renews automatically for one-year periods until February 28, 2015, unless Forward Switzerland provides the Swiss bank with written notice of termination at least 60 days prior to the renewal date. It is the intent of Forward Switzerland and the logistics provider that the bank letter of guarantee amount be adjusted annually. In consideration of the issuance of the letter of guarantee, Forward Switzerland has granted the Swiss bank a security interest in all of its assets on deposit with, held by, or credited to Forward Switzerland's accounts with, the Swiss bank (approximately $1,846,000 at June 30, 2014). As of June 30, 2014, the Company had not incurred a liability in connection with this guarantee.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
RELATED PARTY TRANSACTIONS	Jun. 30, 2014
RELATED PARTY TRANSACTIONS	'
RELATED PARTY TRANSACTIONS	'
	NOTE 10 RELATED PARTY TRANSACTIONS
	Buying Agency and Supply Agreement
	On March 12, 2012, the Company entered into a Buying Agency and Supply Agreement (the “ Sourcing Agreement”) with Forward Industries Asia Pacific Corporation (f/k/a Seaton Global Corporation), a British Virgin Islands corporation (“Forward China”), dated as of March 7, 2012. On March 13, 2014, the Company entered into Amendment No. 1 to the Sourcing Agreement with Forward China, dated as of March 11, 2014. The Sourcing Agreement, as amended, provides that upon the terms and subject to the conditions set forth therein, Forward China will act as the Company's exclusive buying agent and supplier of Products (as defined in the Sourcing Agreement) in the Asia Pacific region. The Company will purchase products at Forward China's cost and pay Forward China a monthly fee for services it provides under the Sourcing Agreement. The Sourcing Agreement, as amended, terminates on March 11, 2015, subject to renewal. Terence Wise, a director of the Company, is a principal of Forward China. In addition, Jenny P. Yu, a Managing Director of Forward China, owns shares of the Company's common stock. The Company recognized approximately $387,000 and $306,000, respectively, during the three-month periods ended June 30, 2014 and 2013 and $930,000 and $798,000, respectively, during the nine-month periods ended June 30, 2014 and 2013 of Forward China service fees, which are included as a component of costs of goods sold in continuing operations in the accompanying consolidated statements of operations and comprehensive (loss) income. At June 30, 2014 and September 30, 2013, there were approximately $4,268,000 and $108,000, respectively, of service fees payable to Forward China.
	Investment Management Agreement
	On April 16, 2013, the Company entered into an Investment Management Agreement (the “Investment Agreement”) with LaGrange Capital Administration, L.L.C. (“LCA”), pursuant to which the Company retained LCA to manage certain investment accounts funded by the Company (collectively, the “Account”). Frank LaGrange Johnson, the Company's Chairman of the Board, serves as the Managing Member of LCA.
	Investment Management Agreement (Continued)
	Pursuant to the Investment Agreement, LCA is authorized, subject to supervision of the Investment Committee of the Board and the terms and conditions of the Investment Agreement, to take all actions and make all decisions regarding the investment and reinvestment of the assets of the Account utilizing the Investment Strategy (as defined in the Investment Agreement). As compensation for its services to the Company, LCA shall be entitled to advisory fees, comprised of an asset-based fee and a performance fee, as provided in the Investment Agreement. The asset-based fee will equal 1% per annum of the average Account Net Asset Value (“Account NAV”). The performance fee will equal 20% of the increase (if any) in the Account NAV over an annual period. No performance fee will be payable for any annual period in which the Account NAV at the end of such annual period is below the highest Account NAV at the end of any previous annual period. In addition to such advisory fees, the Company will reimburse LCA for certain investment and operational expenses. Under the Investment Agreement, the Company or its designees may make cash withdrawals from the Account on March 31, June 30, September 30 or December 31 of each year upon 45 days' prior written notice to LCA; provided, that, in the event of a breach of certain terms of the Investment Agreement, the Company may make a complete cash withdrawal from the Account immediately without LCA's consent. During the three and nine-month periods ended June 30, 2014, the Company recognized approximately $3,000 and $9,000, respectively, of expense in continuing operations in its consolidated statements of operations and comprehensive (loss) income related to asset based advisory fees. During the three and nine-month periods ended June 30, 2013, the Company recognized approximately $6,000 of expense in continuing operations in its consolidated statements of operations and comprehensive (loss) income related to asset based advisory fees. The Company has not recorded any expense related to performance based advisory fees during the three and nine-month periods ended June 30, 2014.
	The Investment Agreement is effective as of February 1, 2013 and shall continue until the second anniversary of the effective date. Thereafter, the term of the Investment Agreement shall automatically renew for additional one year terms unless terminated in accordance with the terms of the Investment Agreement or if a party provides notice to the other party no less than 60 days prior to the end of a term of its decision to terminate the Investment Agreement at the end of the then current term.
	The Company did not invest any additional funds with LCA during the three and nine-month periods ended June 30, 2014 and 2013.
	During the three-month periods ended June 30, 2014 and 2013, the Company purchased approximately $372,000 and $16,488,000 of marketable securities, respectively. During the nine-month periods ended June 30, 2014 and 2013, the Company purchased approximately $5,770,000 and $54,984,000 of marketable securities, respectively. During the three-month periods ended June 30, 2014 and 2013, the Company sold approximately $349,000 and $16,502,000 of marketable securities, respectively. During the nine-month periods ended June 30, 2014 and 2013, the Company sold approximately $5,563,000 and $54,649,000 of marketable securities, respectively. As a result of these activities, the Company recognized net investment gains (losses) of approximately $9,000 and $(702,000) during the three-month periods ended June 30, 2014 and 2013, respectively, and $(31,000) and $(374,000) during the nine month periods ended June 30, 2014 and 2013, respectively.
	New York Office Rent
	On February 1, 2014, the Company began leasing office space in New York, New York for its Chief Executive Officer at a rate of $2,500 per month from LCA. This lease is month-to-month and is cancellable by either the Company or LCA at any time. Effective April 1, 2014, LCA increased the monthly rental charge (inclusive of rent, allocable share of office assistant, and equipment leases) from $2,500 to approximately $12,700 per month. During the three and nine-month periods ended June 30, 2014, the Company recognized approximately $38,000 and $43,000, respectively, of rent expense in continuing operations in its consolidated statements of operations and comprehensive (loss) income related to the New York office.

LEGAL_PROCEEDINGS

LEGAL PROCEEDINGS	9 Months Ended
LEGAL PROCEEDINGS	Jun. 30, 2014
LEGAL PROCEEDINGS	'
LEGAL PROCEEDINGS	'
	NOTE 11 LEGAL PROCEEDINGS
	From time to time, the Company may become a party to other legal actions or proceedings in the ordinary course of its business. As of June 30, 2014, there were no such actions or proceedings, either individually or in the aggregate, that, if decided adversely to the Company's interests, the Company believes would be material to its business.

OPERATING_SEGMENT_INFORMATION

OPERATING SEGMENT INFORMATION	9 Months Ended
OPERATING SEGMENT INFORMATION	Jun. 30, 2014
OPERATING SEGMENT INFORMATION	'
OPERATING SEGMENT INFORMATION	'
	NOTE 12 OPERATING SEGMENT INFORMATION
	As of June 30, 2014, the Company reported and managed its continuing operations based on a single operating segment: the design and distribution of carry and protective solutions, primarily for hand held electronic devices. Products designed and distributed by this segment include carrying cases and other accessories for medical monitoring and diagnostic kits, portable consumer electronic devices (such as smartphones, tablets, personnel computers, notebooks, and GPS devices), and a variety of other portable electronic and non-electronic products (such as firearms, sporting, and other recreational products). This segment operates in geographic regions that include primarily the APAC Region, the Americas, and Europe. Geographic regions are defined by reference primarily to the location of the customer or its contract manufacturer.
	On June 21, 2012, the Company determined to wind down its Retail segment, which commenced during the three-month period ended March 31, 2011, and focus solely on growing its OEM business. The decision to eliminate the Retail division was primarily driven by the longer than estimated path to bring it to profitability and the strong net sales growth and cost rationalizations in the OEM business. The Company has substantially completed its exit of its Retail business as of June 30, 2014. The Company has not had, and does not expect to have, any continuing involvement in the Retail business after this date.

	Revenues from External Customers
	The following table presents net sales by geographic region.
			(dollars in millions)
			For the Three-Month					For the Nine-Month
			Periods Ended June 30,					Periods Ended June 30,
			2014			2013		2014		2013
	Americas:
	United States		$	2.9		$	2.1	$	7	$	7.5
	Other			--			0.8		0.3		1.2
	Total Americas			2.9			2.9		7.3		8.7

	APAC:
	Hong Kong			1.9			2.9		6.3		5.5
	Other			0.8			0.9		2.4		2.6
	Total APAC Region			2.7			3.8		8.7		8.1

	Europe:
	Germany			2.3			1.1		4.8		4.7
	Poland			1.1			0.6		2.9		1.7
	Other			0.1			0.2		0.5		0.2
	Total Europe			3.5			1.9		8.2		6.6
	Total net sales		$	9.1		$	8.6	$	24.2	$	23.4


	Long-Lived Assets (Net of Accumulated Depreciation and Amortization)
	Identifiable long-lived assets, consisting predominately of property and equipment, by geographic region are as follows:
		(dollars in thousands)
		As of June 30, 2014			As of September 30, 2013
	Americas	$	167		$	169
	Europe		--			1
	Total Long-Lived Assets (net)	$	167		$	170

ACCOUNTING_POLICIES_Policies

ACCOUNTING POLICIES (Policies)	9 Months Ended
ACCOUNTING POLICIES (Policies)	Jun. 30, 2014
ACCOUNTING POLICIES	'
Accounting Estimates	'
	Accounting Estimates
	The preparation of the Company's consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates and assumptions.
Basis of Presentation	'
	Basis of Presentation
	The accompanying consolidated financial statements include the accounts of Forward and its wholly owned subsidiaries (Forward US, Forward Switzerland, and Forward UK). All significant intercompany transactions and balances have been eliminated in consolidation.
Reclassifications	'
	Reclassifications
	Certain prior period amounts have been reclassified to conform to the current period presentation.
6% Senior Convertible Preferred Stock	'
	6% Senior Convertible Preferred Stock
	Warrants
	In accordance with ASC 815-40, the Company's warrants were previously classified as a liability, at fair value, as a result of a related registration rights agreement that contains certain requirements for registering the underlying common shares, but has no provision for penalties upon the failure to register. At each balance sheet date, this liability's fair value was re-measured and adjusted with the corresponding change in fair value recorded in the consolidated statement of operations and comprehensive (loss) income. As the Company has met the requirements for registering the underlying common shares, the fair value of the warrants has been reclassified to additional paid-in capital in the accompanying consolidated balance sheet at March 31, 2014. The liability associated with the warrants was previously included in “Accrued expenses and other current liabilities” in the consolidated balance sheet at September 30, 2013.

MARKETABLE_SECURITIES_Tables

MARKETABLE SECURITIES (Tables)	9 Months Ended
MARKETABLE SECURITIES (Tables)	Jun. 30, 2014
MARKETABLE SECURITIES.	'
Schedule of trading securities	'
		June 30,			September 30,
		2014			2013
	Trading:
	Cost	$	1,314,092		$	954,053
	Unrealized Gains		58,498			174,940
	Unrealized Losses		(115,812	)		(48,246	)
	Total Fair Value	$	1,256,778		$	1,080,747
Schedule of Company's fair value hierarchy for assets, consisting of marketable securities, measured at fair value on a recurring basis	'
	The following table presents the Company's fair value hierarchy for assets, consisting of marketable securities, measured at fair value on a recurring basis at June 30, 2014 and September 30, 2013:
		Level 1			Level 2			Level 3		Total

	Equity securities	$	1,256,778			--			--	$	1,256,778
	Total assets at fair value at June 30, 2014	$	1,256,778			--			--	$	1,256,778

	Equity securities	$	1,080,747			--			--	$	1,080,747
	Total assets at fair value at September 30, 2013	$	1,080,747			--			--	$	1,080,747

SHAREHOLDERS_EQUITY_Tables

SHAREHOLDERS' EQUITY (Tables)	9 Months Ended
SHAREHOLDERS' EQUITY (Tables)	Jun. 30, 2014
SHAREHOLDERS' EQUITY	'
Schedule of assumptions used in estimation of fair values of the Warrants	'
	The fair value of the Warrants was determined using a Black-Scholes closed-form call option pricing model, which is considered a level 3 instrument under the fair value hierarchy. The fair values of the Warrants were estimated using the following assumptions as of March 31, 2014 (the date of the reclassification) and September 30, 2013:
		March 31, 2014				September 30, 2013
	Risk-free interest rate		2.7	%			2.6	%
	Dividend yield		--				--
	Volatility		32.9	%			30	%
	Expected term (in years)		9.75				10.3
Summary of change in the fair value of the convertible preferred stock warrant liability	'
	The change in the fair value of the convertible preferred stock warrant liability for the nine months ended June 30, 2014 is summarized below:
	Balance at September 30, 2013	$	493,123
	Increase in fair value		136,258
	Reclassification of fair value of warrants at March 31, 2014		(629,381	)
	Balance at June 30, 2014	$	0

Schedule of fair value hierarchy for liabilities, consisting of a warrant liability, measured at fair value, prior to issuance costs	'
	The following table presents the Company's fair value hierarchy for liabilities, consisting of a warrant liability, measured at fair value, prior to issuance costs, at September 30, 2013 (as noted above the fair value of the warrants liability was reclassified to additional paid-in capital at March 31, 2014).
		Level 1				Level 2					Level 3				Total
	Warranty liability at September 30, 2013	$	--			$	--				$	493,123			$	493,123

Summary of changes in shareholders' equity	'
	Changes in shareholders' equity for the nine-month period ended June 30, 2014 are summarized below:
					Common Stock														Treasury Stock
		Total			Number of Shares				Par Value				Additional Paid-in			Retained Earnings (Accumulated Deficit)			Number of		Amount			Accumulated Other Comprehensive Income (Loss)
		Total			Number of Shares				Par Value				Capital			Retained Earnings (Accumulated Deficit)			Shares		Amount			Accumulated Other Comprehensive Income (Loss)
	Balance at September 30, 2013	$	9,394,310			8,819,095			$	88,191			$	17,965,327		$	(7,378,700	)		706,410	$	(1,260,057	)	$	(20,451	)
	Share-based compensation		203,110			83,123				831				202,279			--			--		--			--
	Preferred stock accretion and dividends		(144,571	)		--				--				--			(144,571	)		--		--			--
	Foreign currency translation		1,144			--				--				--			--			--		--			1,144
	Reclassification of Warrant liability		599,929			--				--				599,929			--			--		--			--
	Net income		70,322			--				--				--			70,322			--		--			--
	Balance at June 30, 2014	$	10,124,244			8,902,218			$	89,022			$	18,767,535		$	(7,452,949	)		706,410	$	(1,260,057	)	$	(19,307	)
	13

SHAREBASED_COMPENSATION_Tables

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
SHARE-BASED COMPENSATION (Tables)	Jun. 30, 2014
SHARE-BASED COMPENSATION.	'
Schedule of stock options activity	'
		Shares				Weighted Average			Weighted Average
						Exercise Price			Remaining Contractual Term (Years)

											Aggregate Intrinsic Value
	Outstanding at September 30, 2013		897,000			$	2.98			6.1	$	--
	Granted		32,500				1.59
	Exercised		--				--
	Forfeited		(28,500	)			3.61
	Expired		--				--
	Outstanding at June 30, 2014		901,000			$	2.91			5.4	$	--

	Options expected to vest at June 30, 2014		179,476			$	3.75			7.7	$	--

	Options vested and exercisable at June 30, 2014		701,582			$	3.01			4.8	$	--

Schedule of stock options valuation assumptions	'
		For the Nine-Month
		Periods Ended June 30,
		2014					2013
	Expected term (in years)	5						5
	Risk-free interest rate	1.50%						0.6% – 0.7%
	Expected volatility	67.60%						70.0% - 70.4%
	Expected dividend yield	0%						0%
	Forfeiture rate	10%						5%
Summarizes restricted stock activity	'
	The following table summarizes restricted stock activity under the 2011 Plan and 2007 Plan from September 30, 2013 through June 30, 2014:
							Weighted Average Grant Date Fair Value


			Shares
	Non-vested balance at September 30, 2013			371,375			$	1.16
	Changes during the period:
	Shares granted			95,000				1.59
	Shares vested			(83,123	)			1.16
	Shares forfeited			(40,671	)			1.16
	Shares expired			(15,000	)			1.16
	Non-vested balance at June 30, 2014			327,581			$	1.29

OPERATING_SEGMENT_INFORMATION_

OPERATING SEGMENT INFORMATION (Tables)	9 Months Ended
OPERATING SEGMENT INFORMATION (Tables)	Jun. 30, 2014
OPERATING SEGMENT INFORMATION	'
Schedule of net sales by geographic region	'
	The following table presents net sales by geographic region.
			(dollars in millions)
			For the Three-Month					For the Nine-Month
			Periods Ended June 30,					Periods Ended June 30,
			2014			2013		2014		2013
	Americas:
	United States		$	2.9		$	2.1	$	7	$	7.5
	Other			--			0.8		0.3		1.2
	Total Americas			2.9			2.9		7.3		8.7

	APAC:
	Hong Kong			1.9			2.9		6.3		5.5
	Other			0.8			0.9		2.4		2.6
	Total APAC Region			2.7			3.8		8.7		8.1

	Europe:
	Germany			2.3			1.1		4.8		4.7
	Poland			1.1			0.6		2.9		1.7
	Other			0.1			0.2		0.5		0.2
	Total Europe			3.5			1.9		8.2		6.6
	Total net sales		$	9.1		$	8.6	$	24.2	$	23.4

Schedule of identifiable long-lived assets, consisting predominately of property and equipment, by geographic region	'
	Identifiable long-lived assets, consisting predominately of property and equipment, by geographic region are as follows:
		(dollars in thousands)
		As of June 30, 2014			As of September 30, 2013
	Americas	$	167		$	169
	Europe		--			1
	Total Long-Lived Assets (net)	$	167		$	170

DISCONTINUED_OPERATIONS_Detail

DISCONTINUED OPERATIONS (Details) (USD $)	3 Months Ended		9 Months Ended
DISCONTINUED OPERATIONS (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2013
DISCONTINUED OPERATIONS	'	'	'	'	'
Net loss from discontinued operations	$21,317	$18,659	$35,103	$199,498	'
Assets of discontinued operations	$281,177	'	$281,177	'	$339,382

MARKETABLE_SECURITIES_Details

MARKETABLE SECURITIES (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
MARKETABLE SECURITIES (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2013
MARKETABLE SECURITIES.	'	'	'	'	'
Available-for-sale securities, transfers to trading, gross gain	'	'	$4,764	'	'
Available-for-sale securities, transfers to trading, gross loss	'	'	-28,508	'	'
Trading:	'	'	'	'	'
Cost	1,314,092	'	1,314,092	'	954,053
Unrealized Gains	'	'	-58,498	'	-174,940
Unrealized Losses	'	'	-115,812	'	-48,246
Total Fair Value	1,256,778	'	1,256,778	'	1,080,747
Net loss on marketable securities	$8,904	($702,377)	($30,528)	($374,160)	'

MARKETABLE_SECURITIES_Details_

MARKETABLE SECURITIES (Details 2) (USD $)	Jun. 30, 2014	Sep. 30, 2013
Fair value hierarchy for assets, consisting of marketable securities, measured at fair value on a recurring basis	'	'
Total assets at fair value	$1,256,778	$1,080,747
Level 1	'	'
Fair value hierarchy for assets, consisting of marketable securities, measured at fair value on a recurring basis	'	'
Total assets at fair value	1,256,778	1,080,747
Level 2	'	'
Fair value hierarchy for assets, consisting of marketable securities, measured at fair value on a recurring basis	'	'
Total assets at fair value	'	'
Level 3	'	'
Fair value hierarchy for assets, consisting of marketable securities, measured at fair value on a recurring basis	'	'
Total assets at fair value	'	'
Equity securities	'	'
Fair value hierarchy for assets, consisting of marketable securities, measured at fair value on a recurring basis	'	'
Total assets at fair value	1,256,778	1,080,747
Equity securities \| Level 1	'	'
Fair value hierarchy for assets, consisting of marketable securities, measured at fair value on a recurring basis	'	'
Total assets at fair value	1,256,778	1,080,747
Equity securities \| Level 2	'	'
Fair value hierarchy for assets, consisting of marketable securities, measured at fair value on a recurring basis	'	'
Total assets at fair value	'	'
Equity securities \| Level 3	'	'
Fair value hierarchy for assets, consisting of marketable securities, measured at fair value on a recurring basis	'	'
Total assets at fair value	'	'

SHAREHOLDERS_EQUITY_Details

SHAREHOLDERS' EQUITY (Details) (USD $)

0 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

0 Months Ended

2 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

Jun. 28, 2013

Jun. 30, 2014

Sep. 30, 2013

Mar. 31, 2014

Jun. 30, 2014

Aug. 14, 2013

Aug. 07, 2013

Jun. 28, 2013

Jun. 30, 2014

Sep. 30, 2013

Aug. 14, 2013

Aug. 07, 2013

Jun. 28, 2013

Aug. 14, 2013

Jun. 30, 2014

Sep. 30, 2013

Jun. 30, 2014

Sep. 30, 2013

Apr. 26, 2013

item

Warrants

Minimum

Maximum

Preferred Stock

Convertible Preferred Stock

Series A Participating Preferred Stock

Warrants

Minimum

Maximum

SHAREHOLDERS' EQUITY

Authorized shares

4,000,000

1,500,000

100,000

Dividend rate (as a percent)

6.00%

Shares sold in private placement

50,890

216,282

381,674

648,846

Stock par value (in dollars per share)

$0.01

Warrants sold in private placement (in shares)

648,846

50,890

216,282

381,674

Number of directors purchasing securities in private placement

Number of shares of convertible preferred stock and warrants purchased in private placement

114,502

Total aggregate purchase price (in dollars per share)

$1.97

Gross proceeds from private placements

$1,275,000

$513,000

$693,000

Fair value of stock (in dollars per share)

$1.10

$1.15

Fair value of warrant (in dollars per share)

$0.82

$0.86

Initial exercise price (in dollars per share)

$1.84

Warrants termination period

'10 years

Number of shares of common stock into which preferred stock is convertible

Initial conversion price (in dollars per share)

$1.84

Number of shares of common stock to be issued upon conversion

692,919

Issuance costs

69,000

Carrying value of stock

804,018

716,664

804,000

717,000

Change in carrying value or accretion

29,000

87,000

Preferred stock dividend

19,000

57,000

508,000

Preferred stock dividends including accretion

48,000

145,000

Minimum amount paid to holders upon change of control (as a percent)

101.00%

Minimum percentage of consent of holders required for conversion into shares of common stock

80.00%

Minimum period of prior written notice to the holders for redemption of all or any portion of outstanding stock

'30 days

Fair value of the warrants

600,000

Liability associated with the warrants

$464,000

SHAREHOLDERS_EQUITY_Details_2

SHAREHOLDERS' EQUITY (Details 2) (Warrants, USD $)	6 Months Ended	9 Months Ended	12 Months Ended
SHAREHOLDERS' EQUITY (Details 2) (Warrants, USD $)	Mar. 31, 2014	Jun. 30, 2014	Sep. 30, 2013
Assumptions used in estimation of fair values of the Warrants	'	'	'
Risk-free interest rate (as a percent)	2.70%	'	2.60%
Dividend yield (as a percent)	'	'	'
Volatility (as a percent)	32.90%	'	30.00%
Expected term	'9 years 9 months	'	'10 years 3 months 18 days
Change in the fair value of the convertible preferred stock warrant liability	'	'	'
Balance at the beginning of the period	$493,123	$493,123	'
Increase in fair value	'	136,258	'
Reclassification of fair value of warrants	'	-629,381	'
Balance at the end of the period	'	0	493,123
Warranty liability at the end of the period	'	'	493,123
Level 3	'	'	'
Change in the fair value of the convertible preferred stock warrant liability	'	'	'
Warranty liability at the end of the period	'	'	$493,123

SHAREHOLDERS_EQUITY_Details_3

SHAREHOLDERS' EQUITY (Details 3) (USD $)	0 Months Ended	9 Months Ended
SHAREHOLDERS' EQUITY (Details 3) (USD $)	Apr. 26, 2013	Jun. 30, 2014	Sep. 30, 2013	Jan. 31, 2004	Sep. 30, 2002
Shareholder's equity	'	'	'	'	'
Number of preferred share purchase rights distributed as dividend for each share of common stock outstanding (in shares)	1	'	'	'	'
Par value of common stock (in dollars per share)	$0.01	$0.01	$0.01	'	'
Authorized shares	'	1,500,000	1,500,000	'	'
Shares of outstanding common stock authorized by the board for repurchase	'	'	'	486,200	486,200
Shares repurchased	'	172,603	'	'	'
Shares repurchased at cost	'	$403,000	'	'	'
Series A Participating Preferred Stock	'	'	'	'	'
Shareholder's equity	'	'	'	'	'
Number of shares of Preferred Stock which each right entitles the registered holder to purchase	0.001	'	'	'	'
Par value of Preferred Stock (in dollars per share)	$0.01	$0.01	$0.01	'	'
Exercise price of Preferred Stock (in dollars per one-thousandth of a share)	$4	'	'	'	'
Authorized shares	'	100,000	100,000	'	'
Series A Participating Preferred Stock \| Minimum	'	'	'	'	'
Shareholder's equity	'	'	'	'	'
Percentage of beneficial ownership of outstanding common stock to be acquired by person to exercise the preferred stock purchase rights	20.00%	'	'	'	'
Percentage of beneficial ownership of outstanding common stock to be acquired by the person or group of affiliated and associated persons to exercise the preferred stock purchase rights	20.00%	'	'	'	'
Blank Check Preferred Stock	'	'	'	'	'
Shareholder's equity	'	'	'	'	'
Par value of Preferred Stock (in dollars per share)	'	$0.01	$0.01	'	'
Authorized shares	'	4,000,000	4,000,000	'	'
Convertible Preferred Stock	'	'	'	'	'
Shareholder's equity	'	'	'	'	'
Authorized shares	'	1,500,000	'	'	'

SHAREHOLDERS_EQUITY_Details_4

SHAREHOLDERS' EQUITY (Details 4) (USD $)	3 Months Ended		9 Months Ended							9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Sep. 30, 2013	Jun. 30, 2014
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Treasury Stock	Treasury Stock	Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity	'	'	'	'	'	'	'	'	'	'
Balance	'	'	$9,394,310	'	$88,191	$17,965,327	($7,378,700)	($1,260,057)	($1,260,057)	($20,451)
Balance (in shares)	'	'	8,112,685	'	8,819,095	'	'	706,410	706,410	'
Share-based compensation	'	'	203,110	'	831	202,279	'	'	'	'
Share-based compensation (in shares)	'	'	'	'	83,123	'	'	'	'	'
Preferred stock accretion and dividends	'	'	-144,571	'	'	'	-144,571	'	'	'
Foreign currency translation	'	'	1,144	'	'	'	'	'	'	1,144
Reclassification of Warrant liability	'	'	599,929	'	'	599,929	'	'	'	'
Net income	19,909	-244,703	70,322	42,136	'	'	70,322	'	'	'
Balance	$10,124,244	'	$10,124,244	'	$89,022	$18,767,535	($7,452,949)	($1,260,057)	($1,260,057)	($19,307)
Balance (in shares)	8,195,808	'	8,195,808	'	'	'	'	706,410	706,410	'

SHAREBASED_COMPENSATION_Detail

SHARE-BASED COMPENSATION (Details)

9 Months Ended

Jun. 30, 2014

Jun. 30, 2013

Jun. 30, 2014

Mar. 31, 2011

Jun. 30, 2014

Stock Options

2011 Long Term Incentive Plan

Non-employee directors

Non-employee executive officer

Non-employee directors

Consultant

Executive Officers and Employees

Common Stock

Stock Options

Non-employee directors

Consultant

Executive Officers and Employees

Share-based compensation arrangement by share-based payment award

Common stock authorized for grants

850,000

Common stock approved

32,500

120,000

1,427,500

5,000

130,000

160,000

1,132,500

Forfeited and reverted, shares

559,000

585,647

Common stock available for grants of equity awards

8,147

Expiry period of stock option

'10 years

'3 years

Percentage of vesting on third anniversary of the grant date

50.00%

Percentage of vesting on fourth anniversary of the grant date

25.00%

Percentage of vesting on fifth anniversary of the grant date

25.00%

Vesting period of stock option

'1 year

'5 years

SHAREBASED_COMPENSATION_Detail1

SHARE-BASED COMPENSATION (Details 2)	1 Months Ended	9 Months Ended
SHARE-BASED COMPENSATION (Details 2)	Feb. 28, 2010	Jun. 30, 2014
Stock Options \| Non-employee directors	'	'
Share-based compensation arrangement by share-based payment award	'	'
Expiry period of stock option	'	'10 years
2007 Equity Incentive Plan	'	'
Share-based compensation arrangement by share-based payment award	'	'
Forfeited and reverted, shares under 2007 Plan	'	255,000
2007 Equity Incentive Plan \| Restricted Stock	'	'
Share-based compensation arrangement by share-based payment award	'	'
Vesting period of stock option	'	'3 years
2007 Equity Incentive Plan \| Restricted common stock and stock options	'	'
Share-based compensation arrangement by share-based payment award	'	'
Common stock authorized for grants	800,000	'
Common stock granted to officers, employees and non-employee directors	992,375	'
Forfeited and reverted, shares under 2007 Plan	'	307,390
Common stock available for grants of equity awards	'	115,015
2007 Equity Incentive Plan \| Stock Options \| Executive Officers and Employees	'	'
Share-based compensation arrangement by share-based payment award	'	'
Percentage of vesting on third anniversary of the grant date	'	50.00%
Percentage of vesting on fourth anniversary of the grant date	'	25.00%
Percentage of vesting on fifth anniversary of the grant date	'	25.00%
2007 Equity Incentive Plan \| Stock Options \| Maximum \| Executive Officers and Employees	'	'
Share-based compensation arrangement by share-based payment award	'	'
Vesting period of stock option	'	'5 years
2007 Equity Incentive Plan \| Stock Options \| Minimum \| Executive Officers and Employees	'	'
Share-based compensation arrangement by share-based payment award	'	'
Vesting period of stock option	'	'3 years

SHAREBASED_COMPENSATION_Detail2

SHARE-BASED COMPENSATION (Details 3) (USD $)	3 Months Ended		9 Months Ended
SHARE-BASED COMPENSATION (Details 3) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
1996 Stock Incentive Plan \| Stock Options	'	'	'	'
Share-based compensation arrangement by share-based payment award	'	'	'	'
Expiry period of stock option	'	'	'10 years	'
Vesting period of stock option	'	'	'3 years	'
Fully vested common stock options, outstanding and unexercised	30,000	'	30,000	'
2011 Long Term Incentive Plan and 2007 Equity Incentive Plan	'	'	'	'
Share-based compensation arrangement by share-based payment award	'	'	'	'
Stock options granted	'	'	1,770,000	'
2011 Long Term Incentive Plan and 2007 Equity Incentive Plan \| Stock Options	'	'	'	'
Share-based compensation arrangement by share-based payment award	'	'	'	'
Fully vested common stock options, outstanding and unexercised	179,476	'	179,476	'
Forfeited and reverted, shares	'	'	28,500	'
Recognized compensation expense	$13,000	$48,000	$79,000	$176,000
Unrecognized compensation expense	$71,000	'	$71,000	'
Unvested stock option awards granted	199,418	'	199,418	'
2011 Long Term Incentive Plan	'	'	'	'
Share-based compensation arrangement by share-based payment award	'	'	'	'
Forfeited and reverted, shares	'	'	559,000	'
2011 Long Term Incentive Plan \| Stock Options	'	'	'	'
Share-based compensation arrangement by share-based payment award	'	'	'	'
Expiry period of stock option	'	'	'10 years	'
2007 Equity Incentive Plan	'	'	'	'
Share-based compensation arrangement by share-based payment award	'	'	'	'
Forfeited and reverted, shares	'	'	255,000	'

SHAREBASED_COMPENSATION_Detail3

SHARE-BASED COMPENSATION (Details 4) (USD $)	9 Months Ended			12 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Sep. 30, 2013
			2011 Long Term Incentive Plan and 2007 Equity Incentive Plan	2011 Long Term Incentive Plan and 2007 Equity Incentive Plan
			Stock Options	Stock Options
Shares	'	'	'	'
Outstanding at September 30, 2013	'	'	897,000	'
Shares, Granted	32,500	120,000	32,500	'
Shares, Exercised	'	'	'	'
Shares, Forfeited	'	'	-28,500	'
Shares, Expired	'	'	'	'
Outstanding at June 30, 2014	'	'	901,000	897,000
Shares, Options expected to vest	'	'	179,476	'
Shares, Options vested and exercisable	'	'	701,582	'
Weighted Average Exercise Price	'	'	'	'
Weighted average exercise price, Outstanding at September 30, 2013 (in dollars per share)	'	'	$2.98	'
Weighted average exercise price, Granted (in dollars per share)	'	'	$1.59	'
Weighted average exercise price, Exercised (in dollars per share)	'	'	'	'
Weighted average exercise price, Forfeited (in dollars per share)	'	'	$3.61	'
Weighted average exercise price, Expired (in dollars per share)	'	'	'	'
Weighted average exercise price, Outstanding at June 30, 2014 (in dollars per share)	'	'	$2.91	$2.98
Weighted average exercise price, Option expected to vest (in dollars per share)	'	'	$3.75	'
Weighted average exercise price, Options vested and exercisable (in dollars per share)	'	'	$3.01	'
Remaining Contractual Term	'	'	'	'
Weighted average remaining contractual term (Years), Outstanding	'	'	'5 years 4 months 24 days	'6 years 1 month 6 days
Weighted average remaining contractual term (Years), expected to vest	'	'	'7 years 8 months 12 days	'
Weighted average remaining contractual term (Years), vested and exercisable	'	'	'4 years 9 months 18 days	'
Aggregate Intrinsic Value	'	'	'	'
Aggregate intrinsic value, Outstanding	'	'	'	'
Aggregate intrinsic value, Options expected to vest	'	'	'	'
Aggregate intrinsic value, Options vested and exercisable	'	'	'	'

SHAREBASED_COMPENSATION_Detail4

SHARE-BASED COMPENSATION (Details 5) (USD $)	9 Months Ended
SHARE-BASED COMPENSATION (Details 5) (USD $)	Jun. 30, 2014	Jun. 30, 2013
SHARE-BASED COMPENSATION.	'	'
Shares, Granted	32,500	120,000
Weighted average grant date fair values (in dollars per share)	$0.90	$0.61

SHAREBASED_COMPENSATION_Detail5

SHARE-BASED COMPENSATION (Details 6)	9 Months Ended
SHARE-BASED COMPENSATION (Details 6)	Jun. 30, 2014	Jun. 30, 2013
Share-based compensation arrangement by share-based payment award	'	'
Expected term (in years)	'5 years	'5 years
Risk-free interest rate	1.50%	'
Risk-free interest rate, minimum	'	0.60%
Risk-free interest rate, maximum	'	0.70%
Expected volatility	67.60%	'
Expected volatility, minimum	'	70.00%
Expected volatility, maximum	'	70.40%
Expected dividend yield	0.00%	0.00%
Forfeiture rate	10.00%	5.00%

SHAREBASED_COMPENSATION_Detail6

SHARE-BASED COMPENSATION (Details 7) (2011 Long Term Incentive Plan and 2007 Equity Incentive Plan, Restricted Stock, USD $)	3 Months Ended		9 Months Ended
	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Share-based compensation arrangement by share-based payment award	'	'	'	'
Shares granted	'	'	95,000	'
Shares vested	'	'	83,123	'
Forfeited and reverted, shares under 2007 Plan	'	'	40,671	'
Shares expired	'	'	15,000	'
Recognized compensation expense	$62,000	$59,000	$124,000	$157,000
Unrecognized compensation cost	138,000	'	138,000	'
Total grant date fair value of restricted stock	'	'	$96,000	'
Executive Officers and Employees	'	'	'	'
Share-based compensation arrangement by share-based payment award	'	'	'	'
Shares vested	'	'	283,928	'
Certain Key Employees	'	'	'	'
Share-based compensation arrangement by share-based payment award	'	'	'	'
Shares granted	'	'	649,875	'

SHAREBASED_COMPENSATION_Detail7

SHARE-BASED COMPENSATION (Details 8) (2011 Long Term Incentive Plan and 2007 Equity Incentive Plan, Restricted Stock, USD $)	9 Months Ended
	Jun. 30, 2014
2011 Long Term Incentive Plan and 2007 Equity Incentive Plan \| Restricted Stock	'
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]	'
Shares, Non-vested balance at September 30, 2013	371,375
Shares granted	95,000
Shares vested	-83,123
Shares forfeited	-40,671
Shares expired	-15,000
Shares, Non-vested balance at June 30, 2014	327,581
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]	'
Weighted average grant date fair value, Non-vested balance at September 30, 2013 (in dollars per share)	$1.16
Weighted average grant date fair value, granted (in dollars per share)	$1.59
Weighted average grant date fair value, vested (in dollars per share)	$1.16
Weighted average grant date fair value, forfeited (in dollars per share)	$1.16
Weighted average grant date fair value, expired (in dollars per share)	$1.16
Weighted average grant date fair value, Non-vested balance at June 30, 2014 (in dollars per share)	$1.29

SHAREBASED_COMPENSATION_Detail8

SHARE-BASED COMPENSATION (Details 9) (Warrants, USD $)	9 Months Ended
SHARE-BASED COMPENSATION (Details 9) (Warrants, USD $)	Jun. 30, 2014
Warrants	'
Warrants	'
Warrants to purchase shares of common stock	75,000
Exercise price of warrants	$1.75
Period of warrants expiration	'90 days

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	Jun. 30, 2014	Sep. 30, 2013
Operating loss	'	'
Unrecognized income tax benefits	$0	$0
Total net deferred tax assets, before valuation allowances	3,841,000	3,841,000
Accumulated earnings of foreign subsidiaries	0	'
Valuation allowances	3,841,000	3,841,000
U.S. Federal	'	'
Operating loss	'	'
Net operating loss carryforwards	7,626,000	'
Deferred tax assets	2,457,000	'
State income tax	'	'
Operating loss	'	'
Net operating loss carryforwards	3,613,000	'
Deferred tax assets	326,000	'
Foreign income tax	'	'
Operating loss	'	'
Net operating loss carryforwards	4,708,000	'
Deferred tax assets	$414,000	'

LOSS_INCOME_PER_SHARE_Details

(LOSS) INCOME PER SHARE (Details)	3 Months Ended		9 Months Ended
(LOSS) INCOME PER SHARE (Details)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
(LOSS) INCOME PER SHARE	'	'	'	'
Anti dilutive common-equivalent shares outstanding during each period	1,624,846	1,650,487	1,532,346	1,650,487

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (Robert Garrett Jr., USD $)	0 Months Ended		9 Months Ended
	Mar. 02, 2014	Mar. 02, 2012	Jun. 30, 2014	Sep. 30, 2013	Sep. 30, 2012
Employment Agreement	'	'	'	'	'
Annual salary	$300,000	$250,000	'	'	'
Signing bonus	'	9,167	'	'	'
Employment bonus of the year	'	'	'	$100,000	$50,000
Employment agreement term	'	'	'1 year	'	'
Employment agreement maximum terms of renewal	'	'	'90 days	'	'
Severance payment term	'	'	'12 months	'	'
Employment agreement term, non-competition and non-solicitation covenants	'	'	'1 year	'	'
Stock Options \| 2011 Long Term Incentive Plan	'	'	'	'	'
Employment Agreement	'	'	'	'	'
Common stock authorized for grants	'	'	200,000	'	'

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Details 2) (James O. Mckenna, USD $)	9 Months Ended	12 Months Ended
	Jun. 30, 2014	Sep. 30, 2013	Sep. 30, 2012
James O. Mckenna	'	'	'
Employment Agreement	'	'	'
Amendment reduction in base salary per annum	$210,000	'	'
Annual salary	225,000	'	'
Housing allowance per annum	90,000	'	'
Bonus payment	172,456	'	'
Payments of Bonus	'	$86,000	$86,000

COMMITMENTS_AND_CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details 3)	9 Months Ended
	Jun. 30, 2014	Jun. 30, 2014
	USD ($)	EUR (€)
Guarantee Obligation	'	'
Amount of guarantee agreement with Swiss bank	$104,000	€ 75,000
Extended notice of termination	'60 days	'
Amount of security interest	$1,846,000	'

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (Buying Agency And Supply Agreement, Forward China, USD $)	Jun. 30, 2014	Sep. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
	Jun. 30, 2014	Sep. 30, 2013	Costs of goods sold	Costs of goods sold	Costs of goods sold	Costs of goods sold
Related party transactions	'	'	'	'	'	'
Related party, Service fees	'	'	$387,000	$306,000	$930,000	$798,000
Service fees payable to related party	$4,268,000	$108,000	'	'	'	'

RELATED_PARTY_TRANSACTIONS_Det1

RELATED PARTY TRANSACTIONS (Details 2) (USD $)	3 Months Ended		9 Months Ended
RELATED PARTY TRANSACTIONS (Details 2) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Related party transactions	'	'	'	'
Purchases of marketable securities	$372,000	$16,488,000	$5,769,609	$54,984,355
Proceeds from sales of marketable securities	349,000	16,502,000	5,563,050	54,648,823
Net investment gains (losses)	8,904	-702,377	-30,528	-374,160
Investment Management Agreement \| LaGrange Capital Administration, L.L.C.	'	'	'	'
Related party transactions	'	'	'	'
Asset-based fee, percentage of 'Average Account (NAV)'	'	'	1.00%	'
Performance fee, percentage of increase in 'Annual Account (NAV)'	'	'	20.00%	'
Period of prior written notice for cash withdrawals	'	'	'45 days	'
Noninterest Expense Investment Advisory Fees	$3,000	$6,000	$9,000	$6,000
Extended term of agreement	'	'	'1 year	'
Investment Management Agreement \| LaGrange Capital Administration, L.L.C. \| Minimum	'	'	'	'
Related party transactions	'	'	'	'
Notice period for termination of agreement	'	'	'60 days	'

RELATED_PARTY_TRANSACTIONS_Det2

RELATED PARTY TRANSACTIONS (Details 3) (New York office, LaGrange Capital Administration, L.L.C., USD $)	0 Months Ended		3 Months Ended	9 Months Ended
	Apr. 02, 2014	Feb. 02, 2014	Jun. 30, 2014	Jun. 30, 2014
New York office \| LaGrange Capital Administration, L.L.C.	'	'	'	'
Operating leases transactions	'	'	'	'
Rent expense recognized	'	$2,500	$38,000	$43,000
Monthly rent expense to be paid for subsequent month of the next fiscal period	$12,700	'	'	'

OPERATING_SEGMENT_INFORMATION_1

OPERATING SEGMENT INFORMATION (Details) (USD $)	3 Months Ended		9 Months Ended
OPERATING SEGMENT INFORMATION (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013	Sep. 30, 2013
Revenues from external customers and long-lived assets	'	'	'	'	'
Total net sales	$9,065,568	$8,590,248	$24,180,926	$23,350,344	'
Total Long-Lived Assets (net)	97,800	'	97,800	'	129,987
Operating Segments	'	'	'	'	'
Revenues from external customers and long-lived assets	'	'	'	'	'
Total net sales	9,100,000	8,600,000	24,200,000	23,400,000	'
Total Long-Lived Assets (net)	167,000	'	167,000	'	170,000
Operating Segments \| Americas	'	'	'	'	'
Revenues from external customers and long-lived assets	'	'	'	'	'
Total net sales	2,900,000	2,900,000	7,300,000	8,700,000	'
Total Long-Lived Assets (net)	167,000	'	167,000	'	169,000
Operating Segments \| Americas \| United States	'	'	'	'	'
Revenues from external customers and long-lived assets	'	'	'	'	'
Total net sales	2,900,000	2,100,000	7,000,000	7,500,000	'
Operating Segments \| Americas \| Other	'	'	'	'	'
Revenues from external customers and long-lived assets	'	'	'	'	'
Total net sales	'	800,000	300,000	1,200,000	'
Operating Segments \| APAC	'	'	'	'	'
Revenues from external customers and long-lived assets	'	'	'	'	'
Total net sales	2,700,000	3,800,000	8,700,000	8,100,000	'
Operating Segments \| APAC \| Hong Kong	'	'	'	'	'
Revenues from external customers and long-lived assets	'	'	'	'	'
Total net sales	1,900,000	2,900,000	6,300,000	5,500,000	'
Operating Segments \| APAC \| Other	'	'	'	'	'
Revenues from external customers and long-lived assets	'	'	'	'	'
Total net sales	800,000	900,000	2,400,000	2,600,000	'
Operating Segments \| Europe	'	'	'	'	'
Revenues from external customers and long-lived assets	'	'	'	'	'
Total net sales	3,500,000	1,900,000	8,200,000	6,600,000	'
Total Long-Lived Assets (net)	'	'	'	'	1,000
Operating Segments \| Europe \| Germany	'	'	'	'	'
Revenues from external customers and long-lived assets	'	'	'	'	'
Total net sales	2,300,000	1,100,000	4,800,000	4,700,000	'
Operating Segments \| Europe \| Poland	'	'	'	'	'
Revenues from external customers and long-lived assets	'	'	'	'	'
Total net sales	1,100,000	600,000	2,900,000	1,700,000	'
Operating Segments \| Europe \| Other	'	'	'	'	'
Revenues from external customers and long-lived assets	'	'	'	'	'
Total net sales	$100,000	$200,000	$500,000	$200,000	'