4 1 fm4pmafor.txt X Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). - - - - - - - - - - OMB Approval - - - - - - - - - - OMB Number: 3234-0104 Expires: October 31, 2001 Estimated average burden Hours per response... 0.5 U.S. SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 4 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 1. Name and Address of Reporting Person* PIERCE MILL ASSOCIATES, INC. (Last) (First) (Middle) 2. Issuer Name and Ticker or Trading Symbol FORWARD ACQUISITION CORPORATION 3. IRS Identification Number of Reporting Person, if an entity (Voluntary) 4. Statement for Month/Day/Year September 26, 2002 5. If Amendment, Date of Original (Month/Year) 6. Relationship of Reporting Person(s) To Issuer (Check all applicable) [ ] Director [ ] 10% Owner [ ] Officer (Give title [ ] Other (specify Below) below) Until this transaction, a 10% or greater shareholder 7. Individual or Joint/Group Filing (Check applicable line) [X] Form filed by One Reporting Person [ ] Form filed by More than One Reporting Person ----------------------------------------------------- Table I Non-Derivative Securities Beneficially Owned ----------------------------------------------------

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--------------------------------------------------- TABLE II. Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g. puts, calls, warrants, options, convertible securities) ---------------------------------------------------

Explanation of Response: All shares sold. Reporting person is no longer an officer, director or 5% or more shareholder. /s/ PIERCE MILL ASSOCIATES, INC. By /s/ James M. Cassidy ___________________________________ Signature of Reporting Person Date: September 26, 2002 ** Intentional misstatement of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 And 15 U.S.C. 78ff(a) Note: file three copies of this Form, one of which Must be manually signed. If space is insufficient, see Instruction 6 for procedure. SEC 1473 (7-97)

PIERCE MILL ASSOCIATES INC 4