Don't use the executable directly. Instead use the provided shell script found in the instance home/bin.
$DOMAIN_HOME/config/fmwconfig/components/FORMS/instances/forms1/bin/frmbld.sh userid=ACCOUNT/ACCOUNT@cmt batch=no module=$i module_type=form compile_all=yes
If error is form not created then.
It might be due to create file permission in the output directory.
Or it might be issue with the libraries attached with any form.
Actually show the screenshot of actual wording of the output of the script which says form not created.
Michael, I think he is using the frmcmp.sh shell script, but just being lazy and not showing the actual command run.
However Mr. Random Number, FORM NOT CREATED can come from a whole slew of reasons. You need to show the entire output of what was shown when you ran the command. Why not compile it withing Forms so that it will show you ALL the code that it could not compile in context.
My guess is that you are missing a library that you had in 10g, but did not copy/compile to 12c.