ADLI News Chapter 11 Rallied to 12 cents with a little buying pressure last time, Amazing S/S

PREZ.ob...A bankrupted casino currently at .35, while their balance sheet clearly shows a value of .45. You'll not find this particularly interesting, but if you dig a little deeper you'll fine aome very interesting things. This stock may have a liqidation value of $21.21.

1) Outstanding shares 5,033,000.

2) They have a pending breach of contract lawsuit against another large casino which PREZ is sure to win or settle out of court for a large sum. Every $1 million of settlement would add another .19 to the value of the stock. I would estimate the settlement to be a minimum of $5 million or more.

3) They have a Capital Surplus of $101,729,000 on their balance sheet, but it is being hidden by a $99,743,000 negative Retained Earnings. If I'm correct, a liquidation would force the distribution of the extra $99,743,000 to the shareholders. This would add another $19.81 value to the stock.

4) The founder of PREZ retired and sold his grandson his 1 million plus shares of stock for .10 when the current value was at .35. This was clearly a tax dodge. It gave the founder a nice loss writeoff and enabled an easy passing of the torch. The bankrupcy was already underway when this happened. This appears to have been a simple tax dodge to transfer wealth to the grandson.

I estimate the true liquidation value of PREZ.ob to be around .45 true value + .95 lawsuit value + 19.81 Capital Surplus = $21.21.

I would appreciate comments?

Dismissal of Innovative Designs Bankruptcy Case


Oct 31, 2007 7:00:00 AM
PITTSBURGH, PA -- (MARKET WIRE) -- 10/31/07 -- On October 30, 2007, the Honorable M. Bruce McCullough, Chief Judge of the United States Bankruptcy Court for the Western District of Pennsylvania, approved and executed the Stipulated Order of Dismissal filed on October 26, 2007, officially dismissing the Innovative Designs, Inc. (OTCBB: IVDNQ) ("IDI") bankruptcy case.

IDI wished to thank its attorneys, employees, suppliers, sales representatives, shareholders and customers who remained loyal during these trying times, and looks forward to a bright future free of any further legal entanglements.

Said CEO Joseph Riccelli, "We can now fully focus on the successes that lie ahead. Everyone involved in the company has endured through some trying times. Our judicial system was able to disseminate fact from fiction and we have prevailed."

The Company

Innovative Designs, Inc. manufactures the Arctic Armor(TM) Line, hunting apparel, swimwear, wind shirts, jackets, sleeping bags, and the multi-function "All in One" under the "i.d.i.gear" label featuring INSULTEX(TM). INSULTEX(TM) is the thinnest, lightest and warmest insulator in the market today. For more information, please visit 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:
Joseph Riccelli
P: 412-799-0350
C: 412-551-7558

Settlement Reached for Innovative Design


Oct 24, 2007 1:16:00 PM
PITTSBURGH, PA -- (MARKET WIRE) -- 10/24/07 -- On September 24, 2007, Innovative Designs, Inc. (OTCBB: IVDNQ) ("IDI") filed a Motion to Dismiss Case No. 06-23921-MBM in the US Bankruptcy Court for the Western District of Pennsylvania. Objections were filed on behalf of three parties. On October 22, 2007, IDI further filed Objections to the Claims of the Petitioning Creditors responsible for commencing the Involuntary Petition against IDI.

At a hearing on the Motion held October 23, 2007, counsel for IDI informed the Honorable M. Bruce McCullough that IDI has reached settlement in the aggregate amount of $45,000 with the three Objectors, comprising two administrative claimants and one creditor, and that upon execution of appropriate settlement documents those Objections will be withdrawn.

The court has requested that IDI submit confirmation of the settlements and a proposed Order dismissing the Bankruptcy Case by Friday, October 26, 2007, at which time it is anticipated that Judge McCullough will approve the settlement agreements and execute the Order dismissing the case.

The Company

Innovative Designs, Inc. manufactures the Arctic Armor(TM) Line, hunting apparel, swimwear, wind shirts, jackets, sleeping bags, and the multi-function "All in One" under the "i.d.i.gear" label featuring INSULTEX(TM). INSULTEX(TM) is the thinnest, lightest and warmest insulator in the market today. For more information, please visit http://www.idigear.com.

Innovative Designs Petitions Bankruptcy Court to Dismiss Involuntary Chapter 11

PITTSBURGH, PA, Sep 27, 2007 (MARKET WIRE via COMTEX) -- On September 24, 2007, counsel for Innovative Designs, Inc. (OTCBB: IVDNQ) ("IDI") filed a motion to dismiss the bankruptcy case pending in the United States Bankruptcy Court for the Western District of Pennsylvania at case No. 06-23921-MBM. The motion noted that all of the petitioning creditors, who either initiated or joined the involuntary petition, averred claims arising out of the default arbitration award entered against IDI in Italy and subsequently reduced to judgment in the United States.
As referenced in IDI's most recent litigation disclosure, that judgment is now owned by French company Greystone, Inc., which has agreed to take no action pursuant to the judgment against IDI. As the petitioning creditors no longer own the judgment that forms the basis of their claims, they no longer have legal standing to assert any claims relating to the judgment.

The Bankruptcy Court has established a response deadline to IDI's Motion of October 16, 2007, and a hearing on the Motion has been scheduled for October 23, 2007. Counsel for IDI is confident the case will be dismissed, as the purported basis for the case has been extinguished.

IVDNQ

I am very familiar with this company, I have been following it for over a year now.

I have posted their recent PR below for your convenience

This litigation has been a major blow to their operations, but the courage and tenacity of the CEO, Joe Riccelli, has finally won the day.

One thing to keep in mind is that there are only 17 million shares outstanding, but, more importantly, there are LESS THAN 1 million free-trading shares in the public float. Part of this is easily proven, as Joe Riccelli, his brother, son, and other family members, own over 15 million shares of stock, and without naming names, I know of at least 3 other investors who own over 300K each. Kinda narrows down what's available for public trading, huh?

The materials that this company holds the patent for are amazing, at least 5 times better than anything that exists on the market today. You can check out the information on their website, www.idigear.com

They should be able to get the bankruptcy status removed now, I am expecting the "Q" to come off the ticker symbol in less than 2 weeks. The stock could have a significant run-up as a result; in fact it hit a 52-week high earlier today, but the tiny float could carry it much higher, IMHO.

All the Best

Val






-----Original Message-----
From: theprofiteers@yahoogroups.com [mailto:theprofiteers@yahoogroups.com] On Behalf Of zac162
Sent: Wednesday, September 12, 2007 10:19 PM
To: theprofiteers@yahoogroups.com
Subject: [theprofiteers] IVDNQ ...


This company was forced into Chapter 11 Bankruptcy due to a legal
battle (the Q on the end of the stock symbol indicates bankruptcy
status). However, their news today tells that the legal issues are
just about resolved now. We have heard that they should be able to
get the bankruptcy status removed possibly in about 1 week. This
stock could have a significant run-up as a result.
----------------------------------------------------------
Innovative Designs Announces Legal Battle Nears Close

PITTSBURGH, PA, Sep 12, 2007 (MARKET WIRE via COMTEX) -- Innovative
Designs, Inc. ("IDI") (OTCBB: IVDNQ) is pleased to announce that its
lengthy legal battle with Eliotex, SRL ("Eliotex") and Elio D. Cattan
("Cattan") is drawing to a close, and that all claims against IDI
relating to the judgment entered by Eliotex and Cattan are being
withdrawn.

The judgment entered against Innovative Designs by Eliotex and Cattan
has been purchased by French company Greystone, Inc. ("Greystone").
Greystone was involved in litigation with Eliotex and Cattan in
arbitration proceedings in France on claims similar to those in
dispute between IDI and Eliotex/Cattan. The Greystone matter was
fully adjudicated by a French arbitration panel which found in favor
of Greystone and entered an award against Eliotex and Cattan, jointly
and severally.

Greystone, after determining that Eliotex/Cattan had no assets in
Europe with which to pay the award, reduced its award to judgment in
the U.S. District Court for the Western District of Pennsylvania and
subsequently evidenced the judgment in the Court of Common Pleas of
Allegheny County, Pennsylvania and commenced execution proceedings.
At sheriff's sale conducted September 5, 2007, Greystone purchased
the Eliotex/Cattan judgment against Innovative Designs, and is now
the record owner of the judgment.

Greystone and IDI have reached an accommodation that provides for all
claims against IDI relating to the judgment to be withdrawn. The
Eliotex/Cattan judgment was the basis for the Involuntary Bankruptcy
Petition filed against IDI, and Greystone will shortly be filing a
Withdrawal of Claim in the United States Bankruptcy Court for the
Western District of Pennsylvania, after which Innovative Designs will
seek the dismissal of the Case.

IDI Chief Executive Officer Joseph Riccelli noted that the legal
proceedings had been fierce and protracted, and that IDI still
intends to pursue vindication through its pending appeal before the
Third Circuit Court of Appeals. "Both the company and I have been
through hell, but the battle is basically over, although our lawyers
tell me some mopping up is left to be done," said Riccelli. "I want
to thank the employees, shareholders and suppliers who never lost
their faith in us. It was a long fight, but I always knew in my heart
that we were in the right."

"IDI's future looks bright, and for the first time in a long time
there are no clouds on the horizon. We're all excited about what this
company can do, now that we can put the legal issues behind us. I
think there are some amazing times ahead for the company and for the
people who stuck with us."

HMBN u might want to keep an eye on it IMO

DCNAQ at it again

Comparing charts with DPHIQ and CPNLQ, looking at the accumulation/volume, it would seem to be in the middle of its run with room left to play over the coming weeks. IMO

Of course play at your own risk because these BK stocks are volatile.

Now, if only DRRAQ would do the same. It is still cheap enough and did seem to have a beginning to its run this last week (see chart).

Anyone else out there watch these BK stocks closely ?

All IMHO.

well yes, it seems most of run has happened.... my point was just that a lot of BK's go back up big over their low point... just hard to find that low point

DRRAQ and DCNAQ

Both seem to be doing well today..

Seems to be some major accumulation happening..both are well over their avg volume

Interesting board you started here ...

HKFIQ worth another look.

Big insider buy recently started the last pop in the pps.

Big institutional ownership 83.5%.

Might be worth another look. Deserves more dd for sure.

Did they just file BK in Mar '07 ?

I like the accumulation....

Putting this on my radar screen.

Its had the q on it since 03...this was one of the first stocks I owned...Im pretty since 03 though...

The asbestos fund and previous lawsuits, are taking a long time to work out...

XYBRQ

Thx for the tip. Doing some dd on it.

Are you sure ?

The cycle with these stocks I have been watching in BK seem to go thru a 1-2 yr cycle from filing to exiting. I watched the airline stocks last year start to go up and they seem to be exiting this year. The auto stocks filed a year after the airline stocks and their pps is moving up now, after they started talking about exiting in the coming months. I want to do a little dd on this one.

DCNAQ

I am still playing this one. Seems to have some good action left in it. Hoping it will come close to what DPHIQ has done already. Also, bought some of DRRAQ, it had a little pop ,resting and hopefully will pop again. It seems that the Big Boys(hedge funds for one) buy big one day let it cool back down a little and then do it again. Hence the next pop in pps. Hopefully this sounds right, it would be nice to see some type of trend these days.

I think they filed back in 03 if my memory is correct...

Very interesting....
Looks like there was some major accumulation in April ...that is a good sign. There might be another accumulation period coming up causing another pop. When did they file BK ?

I will have to do some more DD on this one.

Thx for the tip.

What are your thoughts on FDMLQ??

Been in it since it was at .5...


Should start a new leg up soon..looking for it to test 1.30s again..

XYBRQ

DRRAQ is getting ready to pop....look at its chart...compare it to DCNAQ and DPHIQ, both auto parts companies in bk.

When did they file Bk ? Looks like there run may have already happened.

Watch SOLUQ. The shares will be cancelled upon the bankruptcy hearing, but when the new shares are issued, it will be a stock to watch.

The management team has been executing the re-org plan exceptionally well, and the enterprise value will be higher than most anticipate.

They have a plant close to my house and I've been monitoring this company for a while now.

Yes it is true most bankrupt companies stocks become worthless once they exit bankruptcy, but that is not what I am concerned with. I believe that quite a few of these stocks are great short term plays. Once they bottom out right after bankruptcy, some tend to go up in a couple of mths and even have a sharp pop a few months before exiting BK. These are the stocks to look for, examples...DPHIQ, UALQ, CPNLQ to name a few. All are in BK and will probably be worthless stocks once they exit Bk , but right now they are great plays. I would like to use this board to find other companies filing for BK and making $$$$ off of them.

HKFIQ has done very well since it's low