forward industries, inc., incorporated in 1961, designs, markets and distributes soft-sided carrying cases, bags, clips and other accessories for the handheld consumer electronic product industry, including cellular telephones and medical monitoring and diagnostic kits. its principal customers are original equipment manufacturers (oems). the company’s suppliers custom manufacture its carrying cases and related products to the order of its original equipment manufacturer (oem) customers. forward industries designs and markets to its customers’ order soft-sided carrying cases, bags, hand straps, clips and decorative faceplates made of leather, nylon, vinyl, plastic, polyvinyl chloride (pvc) and other synthetic fabrics through its wholly owned subsidiaries, koszegi and forward innovations. (these subsidiaries are discussed below.) its products are used by consumers for carrying or transporting portable electronic products such as cellular telephones, medical monitoring and diagnostic kits