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Huge News! Stickied the news thanks!
$IVDN News: Innovative Designs Inc. Reports Record Sales Results to Shareholders
PITTSBURGH, Pa - (NewMediaWire) - December 30, 2024 - Innovative Designs, Inc. (OTC Pink: IVDN) today issues the following letter to shareholders from new CEO Joseph A. Riccelli. This letter covers the Company's fiscal third quarter financial results and forward-looking projections, as well as a discussion of significant events in 2024 and plans for the future.
Key points in this letter include:
2024 Fiscal Third Quarter Revenues More Than Doubled Same Period in 2023.
First Nine Months of Fiscal 2024 Delivered Over a 285% Increase Over 2023.
Accelerating Order Flow and Record Backlog in 2024 vs. No Backlog in 2023.
Increasing Production Capabilities to Meet Rising Demand.
Plans for Investor Conference Call / Shareholders Meeting in the company's 2nd Quarter.
Dear IVDN Shareholders:
As the 2024 calendar year comes to a close, I would like to thank all those who have maintained an investment position and followed the developing Innovative Designs story for the marketing of our unmatched Evacuated (Vacuum) Cell R-6 Insultex House Wrap®. As reported in our latest financial filing, the Company's sales revenues for the fiscal third quarter ending July 31, 2024, reached over $250K, surpassing double the $124K total from the same period in 2023. For the trailing nine months from fiscal Q3 in 2024, revenues reached more than $640K, over a 280% increase over the $223K revenue results in 2023.
The Company's full fiscal year ended on October 31, 2024 and we are currently working to complete this financial report which will present even more rapid sales growth. We can now project a 2024 fiscal year-end total of over $1.2M. After this year-end report is filed, we will hold an investor conference call and shareholder's meeting in the second quarter. Sales growth is also continuing in our fiscal first quarter with the largest backorder for Insultex House Wrap® that the company has ever seen, by far vs. no backlog last year.
A significant catalyst to the surging sales of Insultex House Wrap® has been new government building codes calling for continuous insulation and exterior R-Value requirements which are going into effect across the USA. Insultex House Wrap® has proven to be the best overall solution to these new requirements in terms of performance, cost effectiveness and ease of installation. Insultex House Wrap® delivers all this thanks to its unique and patented vacuum cell structure design. No other product on the market today offers a vacuum cell structure. A vacuum is the best thermal insulation possible and only Insultex® incorporates countless evacuated cells. Insultex® also provides a moisture barrier and other key benefits that make it the best choice for home builders and home remodelers for jobs of any size.
Once a new customer buys Insultex House Wrap®, which is a disruptive technology in the building industry, we are finding that they continue to reorder. Insultex House Wrap® provides a substantial savings for new construction, adding an R-6 moisture barrier membrane that does not need additional insulation boards or other support as competitive products.
With the increasing demand for Insultex House Wrap®, one of our top priorities has become increasing new production to maintain a timely order flow. To this end, we have developed new production resources in the last few months which are now able to deliver higher levels of inventory for customers placing rising orders. As demand grows, we have plans for further manufacturing and production. New marketing programs and additional product certifications are also planned.
Lastly, I would like to address the corporate changes that have taken place at Innovative Designs in the last few months including the installation of myself as the new CEO, a position which I am committed to fully with high expectations. The Board of Directors has asked me to convey their sincere appreciation of my father, former CEO Joesph Riccelli, Sr. He has given the Company over 20 years of dedicated service and strong support, all while overseeing important accomplishments. Prior to stepping down as CEO earlier this year for health and family reasons, Joseph Riccelli, Sr. kept Innovative Designs functioning and developing despite many hardships. He also worked to preserve shareholder value by maintaining a small and manageable share structure which today still totals less than 40 million shares outstanding.
Going forward, we intend to keep our customers and shareholders regularly informed of our progress as we address the vital energy saving needs of the multi-billion dollar homebuilding industry. One of our top priorities will be timely filing on all of our future financial reports. We will also be exploring other marketing opportunities for our unique Insultex® material beyond the building industry. For any shareholders or home building/remodeling professionals who wish to speak to me directly I will be available by phone and email at the contact information below. My family and I, as well as everyone on the Innovative Designs team, wish you all a prosperous 2025 ahead.
Sincerely,
Joseph A. Riccelli, CEO
About Innovative Designs, Inc.
Innovative Designs, Inc. manufactures the Insultex® House Wrap and Arctic Armor® Line, under the "i.d.i.gear" label featuring INSULTEX®. Patented INSULTEX® is the thinnest, lightest and warmest insulator in the market today. For more information, please visit: http://www.insultexhousewrap.com and http://www.idigear.com
Disclaimer
Certain statements in this press release constitute "forward-looking" statements as defined by federal law. Such statements are based on assumptions, but there is no assurance that actual outcomes will not be materially different as those implied. Any such statements are made in reliance on the "Safe Harbor" protections provided under the Private Securities Reform Act of 1995 and are subject to various factors, including the risks and matters discussed in the Company's SEC filings available at http://www.sec.gov.
CONTACT:
Innovative Designs, Inc.
Joseph A. Riccelli, CEO
412-799-0350
riccellijjr@insultexhousewrap.com
http://www.insultexhousewrap.com
View the original release on www.newmediawire.com
The Lord is good my friend, The New Golden Age for $IVDN!
Really nice trading for IVDN with a close at the high of the day on this half market session for Christmas Eve.
With the stock now relisted to the OTC Retail Market we should see more of this trend continue to reflect the company's strongly growing business for its superior Insultex home insulation product line.
INNOVATIVE DESIGNS I IVDN: OTC Markets
$0.1850+$0.1600 (+640.00%)
Day High: $.0185
Day Low: .$.10
Volume: 82,350
At close: 1:00:00 PM ET, 12/24/2024
Wowza! Amazing trading day today! I just noticed this back on my scanner. Way to go $IVDN!
Sell, sell, sell since you think the Y vs Y numbers stink. It’s trading now and who knows if it stops for another 3 months. 3x’s last year sales and hopefully even more when we get the K. Get out while you can get some cash.
Really good to see this trading again. Must have been an interesting day for the market makers who are wondering where all this came from. But here we are, and today, so far, has been a great opening. It's a route, not a sprint. Trading microcap stocks is usually a bad idea. Holding for growth and I'll take my chances this way.
Great Christmas Present to see IVDN has now been restored to normal OTC retail trading and buyers are starting to come in again. The stock should continue to appreciate as more news is released on the growing sales success with Insultex which is starting be be recognized as the best choice in the industry to meet the new building codes for higher thermal performance and a continuous insulation format.
Trump and Musk Endorse $IVDN!
Retail traders can't buy IVDN again until the stock is re-listed to OTC Markets Current status but now that the last delinquent financial report has been filed that can happen at any time. The very few shares being reported as traded while IVDN is still on its EM status are not retail trades but likely just exchanges between market makers for bookkeeping reasons. This being a holiday week with a half trading day on Tuesday and then closed for Christmas Day, it's questionable when the first day IVDN will trade at the retail level again will be, but it should not be long now.
The IVDN fiscal Q3 financial filing has been posted today and can be seen at either of these direct links:
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001190370/000173112224002036/e6233_10q.htm
https://www.otcmarkets.com/filing/html?id=18063332&guid=hFY-kFh47hFaJth
This was the last overdue filing needed to bring IVDN back to current status. Now that this is finally done the stock can be restored to its normal OTC trading and start reflecting the substantially improving sales of the company's superior Insultex products and the rising revenue stream being generated.
That would be great for shareholders Bud. Lots to look forward to. New CEO and IVDN back to normal trading status
I agree. My understanding is Joey is leaps and bounds more focused on getting the quarterly and year end reports out. It’s unconscionable that any publicly traded company was put in a position to have stopped trading for more than a quarter of the year or longer because they can’t get their financial Information straight. We are in much more capable hands now in regards to keeping current with the required reports, and the stock whenever it trades should see the fruits of his leadership especially over the next year.
Honestly, the only statements that I, and more importantly, Wall Street investors care about is the financial statement. If sales comp exponentially higher the third and year end quarters, people will see the earnings reports and say who is this company? Once they go to the company website and learn about the miraculous evacuated cells Creating the insulation R – six Value, as I said, this is not a hard sell, this is not even a sell. This is just an education, and once they learn they buy the material.
Once Wall Street learns about the company, they will buy the stock. We are fortunate to be part of an esoteric group who actually know about the company and the Insultex Golden Goose. We will buy the stock once the damn thing starts trading again, way before the rest of the world learns about it’s properties The only thing that is a potential serious problem is that a competitor finds another way to do the similar action creating the continuous insulation and then we will be out of business. We need to get our product certified, and then the floodgates of money will open.
Randy Kimbler, Director of Business Development for Built Link Solutions, commented, "Insultex House Wrap(R) is gaining traction in the market as it provides a timely and effective solution. Its cost-effectiveness, innovation, and ability to address today's building challenges are driving positive feedback nationwide."
Source:
https://finance.yahoo.com/news/innovative-designs-sales-110000236.html
$IVDN is a growth stock for myself. I plan on holding for the long term because that's how you make the most profits.
While IVDN is still sitting on its temporary EM status I do not believe that any retail traders can enter any orders at all, even market orders. Try to buy some at current prices and see what your brokerage platform tells you. The extremely small amounts of shares that we occasionally see being posted as trades right now are most likely just market makers transferring a few shares between each other for bookkeeping purposes. Since the dollar value represented by these few shares is so low, this is essentially a non-issue.
We know that IVDN is having a strong sales growth year in 2024 from the Fiscal Q2 report that was filed recently. This growing sales success should be reflected even stronger in the Fiscal Q3 report when the company is able to file it and then the Fiscal 10K Annual report that is due by January 31st. I certainly do agree that when all the overdue reporting is caught up and the company starts issuing news again we should see very good rewards for patient investors who have kept their facts straight.
I thought that these few trades were from people just putting in market orders? What would be the purpose of market makers trading such few shares at such low costs? This is the danger and to never put in a market order in any stock. I believe a lot of people will be ready to buy the stock once the earnings are released. Do you have any estimation when that might happen? If the third and year end earnings continue the momentum of the second quarter, once properly PR’ed to the whole financial industry, I don’t anticipate any issues with this getting to one dollar and then two dollars in a relatively short period of time.
This is not a hard sell. This is not even a sell. Once somebody is “educated” about the unique and Golden Goose disruptive technology properties of the INSULTEX, with its Evacuated Cell System, anyone doing any buildings and not using our INSULTEX house-wrap is doing CONSTRUCTION MALPRACTICE.
Right again, Scout!
IVDN is currently achieving success with its business plan as has been officially documented in the company's Fiscal Q2 report that is on file for anyone to review at this time. It's unfortunate that there has been a temporary issue with getting the Fiscal Q3 report completed but management is working to rectify this situation. The very few shares being exchanged during this time while IVDN has been moved to the temporary EM market status do not represent retail trades as ordinary investors can not trade IVDN while it is under this suspension status. The few trades we are seeing from time to time right now are likely just market makers swapping a few shares for bookkeeping purposes. These few trades really mean nothing. A little more patience should pay off very well here for investors who have their facts straight.
I hope that the many thoughts mentioned in a positive way on this board about IVDN are fully proven to come true and fairly soon. Management is always the crucial factor in any company and reality has not fully been on this one’s side as proven in where this stock has been for along time in tumbling down., Not meaning to be negative here but most of us have a certain life spans and and twenty-two years is a good chunk of time, we invested here for a reason and in reality have watched reverse polarity take place here with this stock. Let’s get this situation by now on the right track, a direction of moving and moving upward and staying up to where it should have gone years back. MOO
Financial resources should not be any problem for IVDN management now since we saw how much revenues are swelling from the Fiscal Q2 report that has been filed (below). The delay is getting caught up to current is likely more related to the limited availability of certified independent auditors vs the huge number of OTC companies that need them today. Regardless, since they did get the Fiscal Q2 report filed during this delay period, I am sure they will get caught up with the overdue Fiscal Q3 report which is only one needed now to restore IVDN to normal OTC trading status.
IVDN Form 10-Q Filed - For the quarterly period ended April 30, 2024
https://www.sec.gov/ix?doc=/Archives/edgar/data/1190370/000173112224001521/e5922_10q.htm
IVDN Revenues for the three-month period ended April 30, 2024, were $300,331 compared to revenues of $27,249 for the three-month period ended April 30, 2023. The increase in revenue is attributable solely to an increase in sales of our Houswrap product line.
*As of September 27,2024, we have a backlog of approximately $247,000 in orders for our Housewrap product line.
*As of August 30, 2024, one of our Distributors has generated approximately $550,000 in sales.
*SG&A expenses were $206,722 for the six month period ended April 30, 2024, compared to $234,974 for the six month period ended April 30, 2023.
*In the period starting May 1, 2024, to September 3, 2024, our sales have increased 158% over the period beginning November 1, 2023, to April 30, 2024.
Delays in filings can compound. I think we all understand that this is a temporary situation. I am as frustrated as the next investor, but I believe we are finally on track to get things running right. IVDN just needs to work through their audit issues, but I am confident that they will and we will all be rewarded for the delay. The information we are receiving is positive and I see no reason why this will change. Hang in there. This is a small company. Things take time to resolve. But I am confident that they will.
Well said Scout!!
It's important for investors to keep their facts straight. Yes, IVDN is still on the temporary EM status but progress has been made in correcting this situation since that happened with the filing of the overdue Fiscal Q2 financial report (which showed strong sales & revenue growth) as well as 8K filings on other corporate actions to strengthen management positions. The Fiscal Q3 report was due on September 15th and the company is working to get this filed now. When this is done the stock can be relieved of the EM status and return to an active OTC listing.
The Fiscal Q4 or Annual 10K report is NOT late at this time as this is not due to be filed until January 31st. The very few trades that have have been executed while IVDN has been on EM status do NOT represent retail actions from investors and are only swaps between market makers. The unrealistic low prices that these few trades for a few hundred dollars were executed at do not represent true investor sentiment or any realistic valuation for IVDN and they essentially mean nothing. When the company has all its financial reports up to date again and the stock resumes retail trading on the OTC, we should see a real reflection of the rising value here to correspond with the record sales and revenue growth taking place for the company at this time.
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https://lindusconstruction.com/blog/insultex-house-wrap-future-home-weatherization/
Lindus Construction is proud to announce our partnership with Insultex™ House Wrap®. Our C.O. O. Andy Lindus believes that Insultex™ House Wrap®
will allow us to continue revolutionizing our industry meeting the new standards for side wall laws.
Lindus Construction is the exclusive distributor in Minnesota, Wisconsin, Iowa & North Dakota.
----INNOVATIVE DESIGNS (IVDN) Markets INSULTEX HOUSE WRAP --- THE THINNEST INSULATED HOUSE WRAP WITH AN R-VALUE----
Insultex House Wrap ® is a closed-cell foam composite with superior drainage and R-Value.
This certified product meets or exceeds the competition in air and water resistance moisture vapor permeability and durability.
----Innovative Designs, Inc. (IVDN) offers the Arctic Armor™ Suit. Each Arctic Armor™ suit utilizes 3 layers of our exclusive thermal insulator Insultex® ----
One layer of Insultex® protects a person to sub-zero temperatures.
Insultex™ is the high performance alternative to other insulating products. Being pliable, thin, waterproof, and warm, manufacturers now choose to implement Insultex into their products because the insulation provides their products with the high performance without the bulk. Manufacturers may laminate, perforate, and sew Insultex™, making it an extremely versatile material.
Insultex’s™ new cellular structured low-density polyethylene features buoyancy, impermeability, and resistance to cold temperatures. Insultex™ is also incredibly lightweight; one square yard weighs .42 ounces. In addition to it’s waterproof and windproof capabilities, 8.8 ounces of fabric can provide flotation to a 287 pound person.
With all of these features combined into one easy to implement material, the applications for Insultex™ are virtually endless.
Insultex™ is a revolutionary structured cellular fabric that incorporates countless evacuated closed micro-cells that significantly reduce heat transfer through the fabric. Insultex™ is the newest thermal insulation on the market promising to revolutionize insulation as we know it from outerwear, tents, boots, sleeping bags, coolers and now house wrap, just to name a few.
Insultex™ House-Wrap® is a weatherization membrane that provides a protective layer under a home's outer covering and over the sheathing. Insultex® House-Wrap resists water and air infiltration, but allows moisture vapor to diffuse helping to prevent mildew and mold buildup, which could lead to the rotting of wood.
Conclusion:
The Insultex® House-Wrap product identified and evaluated in these tests has met all the property performance requirements contained in ICC-ES AC 38, Acceptance Criteria for Water-Resistive Barriers, Approved for a Grade C type material.
Read More about IVDN's House-Wrap:
http://www.insultexhousewrap.com/index.php
Media Coverage of Insultex House-Wrap:
https://www.youtube.com/watch?v=sLK-xJ6YivU
For company filings visit: http://www.otcmarkets.com/stock/IVDN/filings
COMPANY NEWS:
Innovative Designs Receives Patent for Propriety Process With Low Density Foam
April 20, 2023
https://www.globenewswire.com/news-release/2023/04/20/2651420/0/en/Innovative-Designs-Receives-Patent-for-Propriety-Process-With-Low-Density-Foam.html
Innovative Designs Hires Marketing Agency
July 1, 2022
https://www.globenewswire.com/news-release/2022/07/01/2472814/0/en/Innovative-Designs-Hires-Marketing-Agency.html
Innovative Designs Adds New England Retailer
April 21, 2022
https://finance.yahoo.com/news/innovative-designs-adds-england-retailer-110000672.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr
Innovative Designs Inc. Interview to Air on Bloomberg U.S. on the RedChip Money Report
March 3, 2022
https://finance.yahoo.com/news/innovative-designs-inc-interview-air-120000275.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr
Innovative Designs Adds Board Member
Innovative Designs Expands Pro Staff
January 12, 2022
https://finance.yahoo.com/news/innovative-designs-expands-pro-staff-120000792.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr
Innovative Designs Common Stock Listed on OTCQB
December 14, 2021
https://finance.yahoo.com/news/innovative-designs-common-stock-listed-184800997.html
Innovative Designs Court Case Update
February 18, 2020
https://finance.yahoo.com/news/innovative-designs-court-case-120010842.html
Innovative Designs Expands R-6 Availability
June 10, 2015
http://finance.yahoo.com/news/innovative-designs-expands-r-6-165338469.html
Innovative Designs to Begin Domestic Production of Insultex
June 9, 2015
http://finance.yahoo.com/news/innovative-designs-begin-domestic-production-164117890.html
Innovative Designs Comparable Sales Increase
April 13, 2015
http://finance.yahoo.com/news/innovative-designs-comparable-sales-increase-110000192.html
Insultex House Wrap Midwest Distributor Growth
April 9, 2015
http://finance.yahoo.com/news/insultex-house-wrap-midwest-distributor-110000236.html
Insultex House Wrap Now Available to National Home Builders
February 18, 2015
http://finance.yahoo.com/news/insultex-house-wrap-now-available-121500058.html
DISCLAIMER:
Nothing in the contents transmitted on this board should be construed as an investment advisory, nor should it be used to make investment decisions.
There is no express or implied solicitation to buy or sell securities.
The author(s) may have positions in the stocks or financial relationships with the company or companies discussed and may trade in the stocks mentioned.
Readers are advised to conduct their own due diligence prior to considering buying or selling any stock. All information should be considered for information purposes only.
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