Innovative Designs Inc (IVDN)

[searay2701]

pitcook, thank you for your response to my question. Let’s all hope and do get to see the IVDN future quarterly releases showing continued decent increasing revenues bringing a new era for IVDN.

[pitcook]

From what I have read, Mr. Thomas is an 84 year old SEC attorney, and has no experience at all running a company, let alone one with such an esoteric product. From the most recent earnings report, in spite of wherever the history may have been, the company is doing a booming business and growing percentage wise with very impressive numbers. I want somebody that at a minimum has years in the building, or home construction industry, an architect, or anyone who has either been buying, selling or using our Insultex House wrap.

With the new government required building code requiring a continuous insulation, as valuable as or material was when I first invested in it, it now is at least twice as valuable. What I mean is if we have an R –6 and the requirements are an R-20, an insulation company like Corning and their Pink Panther would be losing 30% of their business on many many billions of dollars construction per year.

If at some point an insulation company would buy the license to use our material not only would they be saving 30%, but they now would have the best product in the moisture barrier industry, also worth billions of dollars a year.

Now, after whatever the reasons our stock price has gone down to where it is now, with the great distributor driving sales across the country, and the new building code requirements, we literally have a Golden Goose. I would say 99% of the industry that would benefit by Selling/Specifying/Using our material has no clue who we are. To me, the publicly known information that just a small percentage of us who own the stock know about, that whoever controls this material, and is a major company with all the money needed to expand production, advertise, and sales within the industry, will be completely dominate.

Again what we know about this Insultex material, with the evacuated cells creating the R –6 insulation, it’s like knowing before it came out that Apple was going to come out with a smart phone, or somebody in a garage was coming out with a computer, or somebody named Musk was coming out with an electric vehicle. The best thing about this is, as our new distributor is proving, this is not a hard sell. It is not even a sell, it is just an education. Once somebody learns about our material, they are sold, (as it saves significant money and times etc,) and will continue to use it.

By the way, all of the potential riches as described above are only for the building industry. If we once again reconnect to the clothing industry, there probably are more profitable dollars there than in building. We also can be in many other industries like the roofing industry, whereby using our product, it will not be released as much Carbon, saving tremendous amounts of energy. Before the bogus lawsuit, a major retailer was looking for us to make the thinnest, lightest and warmest sleeping bag in the world. So just licensing our material in these, and if you think about it, so many other industries that not only would save money, but would be achieving great input and lowering carbon emissions and helping to save the earth.

I want us to have the CEO that is making the day-to-day decisions, to be somebody who is either deeply involved in the industry, or even better yet, somebody with great knowledge of our Insultex material!

[searay2701]

Does anyone by chance have any new information as to, when Mr. Thomas ends his six month leadership term of being part time at the helm of IVDN, what will take place then, six months will be gone faster than we all think. Let’s all hope and pray for the best going forward for Mr. Thomas and our company’s future.

[ProfitScout]

Thanks for the link to the the IVDN fiscal Q2 report which has been officially filed this week. The accelerating sales and revenue growth that IVDN management has been talking about in its 2024 press releases are now starting to be reflected in the SEC financial filings. This once again illustrates that official news from company management has real credibility.

$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.

[NevoTX]

No. It won't.

If we're lucky, and if this encouraging trend continues, next year might be.

But it probably won't be. It will take several quarters of profitable operations for investors to take note of this company.

[NevoTX]

Those are encouraging numbers, but none of those customers have paid yet. All that money shows up in accounts receivable, not in cash. Here's hoping those customers pay the bill.

"The opening balance of accounts receivable was $31,050. The ending balance of accounts receivable for the six-month period ending April 30, 2024, was $124,450. There was not an allowance for doubtful accounts at the beginning or end of the period."

I suspect the company does not have sufficient cash on hand to order goods to satisfy backorders. Do not count those chickens before they hatch. Backorders can be cancelled.

Also, looking at inventory, it looks like product hasn't even shipped to these customers.

So, yes, this is good news, but this company is not out of the woods yet.

[greendolphin11]

Fiscal year ends in 29 days

This will be the breakout year

IMHO

GD11

[greendolphin11]

Things will move faster now
3rd qtr report will be filed with even better numbers
Stock will be relisted
After that there is nowhere to go but higher
Much higher
IMHO
GD11

[searay2701]

Ah, a little light at the end of the tunnel can be seen, let’s hope that they can keep it getting brighter as time passes.

[Dickmo]

A very impressive filing. A tad late, but impressive nonetheless. The increase in sales is a very welcome sight. Finally, with a new CEO and an expectation of growing sales, IVDN appears to have turned the corner. Let's get this thing trading, catch up on the filings and move forward. Very exciting and most welcome for all shareholders.

[Trooperstocks]

$IVDN More info from 10-Q - Filing (Quarterly Report):

*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.

[Trooperstocks]

$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.

[Trooperstocks]

$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

[berigud]

Nevo, great post. I agree with you. No sugarcoating, just reality. He was a TERRIBLE CEO

But now he is history (unless he fights this as the largest shareholder), it is time to turn the page. We will finally become a REAL business that might reach its potential. Now all of us here, that has been here for a long time, will soon see a return on our investment.

I have been on this board calling for Joe removal for 4 years. Now that he is gone, I am done posting here.

I wish us all good luck in the future

[NevoTX]

"Doing his best" wasn't good enough. In over 20 years he never returned a dime of profit to shareholders. This action by the board is long, long overdue.

By the way, windough... all of us are here because we believe in the product. The product has never been the issue here. Ever. The issue has been that Joe has been completely unable to sell the product.

Given how great the product is, that only tells you how terrible Joe has been, especially for those of us who have invested our money in his company.

[greendolphin11]

Well said, pitcook!

[waterchaser]

Welcome back!

I’m sure the IVDN faithful are glad to see your compensated, undisclosed tout crew back in action.

Can we expect the rest of your IVDN team to ramp up the rhetoric once again?

[pitcook]

Respect to Mr. Joseph Riccelli. He has single-handedly fought the Federal Trade Commission when they tried to put the company out of business, because a competitor was starting to lose market share. He was willing to mortgage his own home to raise the million plus dollars, to pay for legal representation, because he believed in the amazing powers of Insultex. After years of delays, and loss of a then booming business, he actually won the case, something a very low percentage of corporations, or individuals do!!!

He made the brilliant decision to take this disruptive technology material from the clothing industry, that every year you had to change your complete attire line (with new Fashions, Designs, Pantones, etc.), into the more stable, and much larger and lucrative building industry.

The stress of this no doubt has adversely affected his health, yet he persevered. Basically starting from scratch, he and his team has continually grown the business, to based on previous PR’s could lead to all-time record sales.

May he now take the time to get into the best health that he can, sit back and hopefully watch this new management team continue the extremely positive momentum that he has created, and get the share price to rocket to great heights, and reward him and all of the shareholders, to take the company to where he knows it was going.

God bless you, Mr. Riccelli and thank you for all the years that you fought to literally keep the lights on, and put us in position to lead this major industry, that needs our CONTINUOUS (R-6 Value) INSULATION!,

[berigud]

Hang in there, windough. With Joe Riccelli out of the picture, we will finally take off. His ego held us back for a decade.

As soon as the stock is on the open market we will see millions of dollars invested in ivdn.

[berigud]

Yea, It is long overdue. Now we'll see if my next prediction, a buck a share, will be realized soon. They just need to get that financial filing done and we will be off to the races.

Goodbye Joe, you will not be missed

[ProfitScout]

IVDN Filing on September 27, 2024: Item 5.02 Departure of Directors or Certain Officers: Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
 
On September 26. 2024, the Board of Directors of the registrant terminated Mr. Joseph Riccelli as the registrant’s Chief Executive Officer and Chief Financial Officer effective immediately.

On the same date the Board of Directors appointed John L. Thomas, Esq as the registrant’s Chief Executor Officer, Chief Financial Officer and corporate counsel. Mr. Thomas has served as the registrant’s securities counsel for over fifteen years.

Mr. Thomas has been a practicing lawyer for over forty years. He is a former Senior Attorney at the U.S. Securities and Exchange Commission, Division of Corporation Finance. He received his law degree from Franklin Piere Laws Center and a master’s in business administration from New Hampshire College.

He will serve on a part-time basis. for a six-month period. His compensation will be $2,000 per week. He will also receive a warrant to purchase 100,000 shares of common stock with an exercise price of $.12 per share for a term of three years. The warrants have a cashless exercise feature.

On the same date, the Borad of Directors appointed Mr. Robert K. Adams as Chairman of the Board of Directors.

LINKS:
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001190370/000173112224001507/e5991_8-k.htm

https://ih.advfn.com/stock-market/USOTC/innovative-designs-ce-IVDN/stock-news/94626293/form-8-k-current-report

[windough-shopper]

I have lived with this for 18 years. I guess I will die with this as well. I've always believed in the product and I will die with Believing in the product

And what I have not ever met
Joe I have Talked to him many times I believe always.He has done his best and I wish him well

[berigud]

People die everyday. I do not know him personally.
He needs to go for this company to move forward. I have been saying that for many years. He will not walkway. His friends on the board of directors will not fire him. So what choice do we have left?

Window, how many shares do you have? Would you be willing to take a one cent a share?

[windough-shopper]

I meant to say.I wish I could get out of the stock

I have been here for almost eighteen years

And it's a horrible thing to say about another human being

[windough-shopper]

Out

[searay2701]

One thing that has been on schedule with IVDN for years has been, nothing but deeper South has this situation gone. There are two more trading days to go until it will be the end of September and still nothing has shown up as to IVDN going anywhere but being stuck in The Expert Market. MOO

[waterchaser]

Asking for a friend…
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=175105592

[berigud]

Searay, I have been calling for Joe Riccelli's firing for 4 years now. He has no business sense and is an IDIOT.

We are stuck with him. It is obvious that his friends on the BOD will not terminate him. He will only leave IVDN horizontally.

All we can hope for is that we will get lucky and one of his news releases will come true. Remember even an IDIOT can get lucky.

[searay2701]

If there were positives involving this company/stock this company and its stock would not be in the position that it has been in for a long time, whether it be on Twitter, Facebook, or newswire with real new news. Why is this ceo so quiet for so long, either he is away on a long vacation or he is showing what he thinks of his regular shareholder’s by way of how he cannot not control this company in the way that is needed to move North to profitability by now, two decades ago and therefore has taken the route he has for so long. Some posters have seem to hit it on the head here, in order to go anywhere North with IVDN what is needed by now is someone at the helm who has the knowledge, has the youth, and the perseverance get the job down and soon before this company and it’s stock become history! After two decades Mr. ceo, and in the position this situation is in, yes I am repetitive, is there any wonder why!

[searay2701]

I have been thinking, is it discriminatory that a stock can be allowed to be traded by a group, market markers etc, which affects that stocks price but not by any other group such as regular investors. I know that marker makers have to have shares in the process of regular trading of a stock, but when trading is suppose to cease, it should be completely stopped, the price of that stock should be frozen to all. Current rules do not allow a fair playing field to be operated by anyone or any group who affect that stock’s price, by the time that that group of specialist are finished in some instances a stock could be no longer alive by the time it was suppose be released and back to regular trading status, it should either be tradable by all who could have any affect on that stock’s price or not by any group that could any affect on that stock’s price at any given time. JMOO

[searay2701]

We know what direction this thing is still going, only a matter of time and the regular shareholder’s will probably see this stock trading in the trips next year if it does trade by then. Just look at where this stock was a few years ago and today, with all of its repetitive news that has come out trying to show this company being in a much better position today than ever before, then look at the stock, in it’s worst position of ever before, now who believes who here, most of the shareholder’s do not believe this CEO, and rightfully so with it’s long negative past history, and now, this stock is back to not trading, and why, because of this ceo’s still fumbling at the helm. MOO

[pitcook]

Market maker trade. Still not an open market trade.

[tigerpac]

Well someone just sold 35,000 shares at 10 cents. Verifiable fact.

[searay2701]

IVDN has been a merry go round situation for a long time. 2023 revenues were down, while all we have heard in 2024 is that % wise, 2024 %s were ahead of 2023’s drop, but we have not seen what the net revenues are to date, until and if good net revenues are reported to The Sec and reported legally on The OTC Market Website, not reported through other sources, I am not going with the thought that IVDN has changed it’s long time direction of going deep South. IVDN’s stock price dropped from $2.00 to presently a non trading price of $.12, showing that reality had set in after two decades of a floundering situation. Old news is just that, old news. This CEO, in this really two man operation, needs to make real positive things happen soon or we will all be seeing, without this company having sufficient funds, the end of IVDN, there is a time, especially in todays age, just talk will not carry a company the end of a company that if it had been handled right from the get go could have really have made a change. MOO

[waterchaser]

So Joe opened-up the IVDN checkbook and started paying you paid scammers again?

Buyer beware… IDVN ain’t what these compensated folks say it is.

[ProfitScout]

Yes Blazing Stocks, official news from the company is the only valid material for real investors as it is fully accountable to the SEC for accuracy and truthfulness. And, of course, it does not matter if it is one day old or longer. Everything else posted on chat boards by anonymous persons with questionable agendas has no credibility at all. IVDN management will get its temporary reporting issues resolved and then we should certainly be getting more updates on the record sales year the company is having in 2024, as already reported in the most recent news below.

Innovative Designs Sales Update
May 30, 2024
https://finance.yahoo.com/news/innovative-designs-sales-110000236.html

Innovative Designs Vendor Growth
April 10, 2024
https://finance.yahoo.com/news/innovative-designs-vendor-growth-174255528.html

World International Patent Organization (WIPO) Application Accepted on Superior Insulation Advancement to Maximize Global Marketing Opportunities for Innovative Designs, Inc.
Dec. 27, 2023
https://www.newmediawire.com/news/world-international-patent-organization-wipo-application-accepted-on-superior-insulation-advancement-to-maximize-global-marketing-opportunities-for-innovative-designs-inc-7071640

Innovative Designs Inc. Receiving Orders From Numerous New Client Accounts for Top Performing Insultex House Wrap With Unmatched R-6 Insulation Value
October 26, 2023
https://www.globenewswire.com/news-release/2023/10/26/2767843/0/en/Innovative-Designs-Inc-Receiving-Orders-From-Numerous-New-Client-Accounts-for-Top-Performing-Insultex-House-Wrap-With-Unmatched-R-6-Insulation-Value.html

Innovative Designs Adds New Accounts
October 2, 2023
https://www.globenewswire.com/news-release/2023/10/02/2752606/0/en/Innovative-Designs-Adds-New-Accounts.html

Innovative Designs, Inc. Receives $100,000 Direct Private Investment from Board Member Mr. Robert K. Adams
June 5, 2023
https://www.globenewswire.com/news-release/2023/06/05/2682134/0/en/Innovative-Designs-Inc-Receives-100-000-Direct-Private-Investment-from-Board-Member-Mr-Robert-K-Adams.html

[berigud]

HAHAHAHAHA, good one Blaze. All the news releases, over all the years, have proven to be LIES. Why believe this one? What makes this lie different?

Even if IVDN had a million dollars in orders, was able to fill those orders (I doubt it), it still is a puny business. It is a fraction of 1% of the USA house wrap sales.

Joe Riccelli needs to be FIRED NOW.

Hey fellow shareholders, after all these years how does it feel to get screwed and lose all your money invested in IVDN and Joe?

[waterchaser]

Got anything newer than four-month old bullshit? Tell your employer to give you a new script.

[BlazingStocks]

At the end of May, $IVDN released this statement..."Year-to-date sales have already surpassed FYE2023 by over 33% with 5 months remaining in FYE2024."

Would like to see an updated outlook here.

[searay2701]

Only 42 more days to go until the end of October arrives, then in two more months comes the end of the year 2024, will IVDN be used as a tax write off is becoming more of a reality here than not. MOO

[waterchaser]

Where did your paid IVDN pump crew go?

Crickets for weeks.

Did the pay dry-up?

Why not at least update some of your year-old stickies?

[searay2701]

Just doing some research today in seeing if there is still any connection between IVDN and LIGA. It seems LIGA may be trying to spin off the housing material business and go into the Carbon Business. As far as Liga’s stock price goes, it is in the same tank as IVDN is in. If the building business is starting to begin to suffer overall, then IVDN, regardless of any little savings, of which may come from using IVDN’s product, the near future could be the nut that could finally crack IVDN’s future existence. JMOO

[searay2701]

No guessing here about what type of business operation this company has been and still seems to be, just look at it’s long history that has gone on here. The longer time moves on, this situation has gotten deeper and messier than ever before. Where are the pumpers now with constant repeated news of what is supposed to be happening and how the future is going to be so great for this company, a company that has been burying itself for over two decades with talk, where are those company’s, supply houses, distributors, contractors that were, are suppose to be moving more and more IVDN materials this year than last year, no more mention of them since May 30, 2024. Notice how Tyvek and a few of the other companies products are doing this year compared to IVDN’s product in 2024. I have not seen any other company come forward with an offer to buy out IVDN, why, why should they, it will probably be only a matter of time before IVDN does itself in, $2.00 to now, years later at $ .124 and currently not trading. MOO. Everyone must do their own research to come up with their own decisions.

[berigud]

Nevo, You are going to get the run around trying to do find out information about the company that the company does not want to share with you. This company is run like a sole proprietorship, always has been. Joe Riccelli will not be held accountable to anyone.

I have a theory. The reason IVDN keeps changing accountants is because Joe commingles his personal money with the company money. How else can he survive on his "reported" salary. Especially with his personal medical bills. No accountant wants to deal with a mess like that.

It is time to call the IRS, FBI and the SEC. Let's them investigate this sham of a company. They will uncover all the fraud committed by Joe Riccelli and the BOD. Fraud = Jail

It is time to KILL IVDN so it can rise again from the ashes of mismanagement.

[waterchaser]

The only news here is old news that the undisclosed, compensated awareness crew offers.

However, thy seem to be awol at the moment.

They should be prosecuted.

[searay2701]

No news coming from anywhere, Twitter, FaceBook, or from the company on anything of more orders coming, and current %s etc. what everyone has seen here for too long is the continual history making REALITY of how this company has just about existed. MOO

[searay2701]

This coming week will make it a month that IVDN has been been in The Expert Market Status, nothing new here.

[NevoTX]

How to register shares of IVDN?

I have made several attempts to examine the books and records of IVDN as permitted by Delaware law. IVDN's lawyer has stonewalled me on several occasions saying that they can't verify that I'm a shareholder, despite the screenshots I've sent from my Fidelity Account. Fidelity told me that IVDN shares are not eligible for DRS (direct registration system).

Can anyone tell me how I can become a shareholder of record for IVDN? Is anyone here an IVDN shareholder of record that would be willing to send a letter to the company?

[NevoTX]

"turn around full circle back to normal..."

You mean the 'normal' of losing money for investors?

[searay2701]

tigerpac, with some company’s it’s nothing new, some words come out from time to time of which are just that, some words, with nothing really backing them up, it is what some CEO’s do to try and keep their shareholder’s from leaving, keep them on a string sort to speak, just look at how long the string has been concerning IVDN. MOO