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yeah same here...until they get the Accounting in order and post quarterly reports, 10-Ks etc. we're gonna be stuck with these low price levels.
I hope it's true and accurate...this would mean we can finally move on
Yesssss, Finally...
On September 24, 2020, a judgment was entered in favor of the registrant against the Federal Trade Commission (“FTC”) as to all claims set forth in the FTC complaint. It was further ordered that as there were no remaining claims in the action the case shall be marked as closed. The case was heard in the United States District Court for the Western District of Pennsylvania. Case no. 16-1669 and related to a complaint filed by the FTC against the registrant on November 4, 2016, which alleged, among other matters, that the registrant did not have substantiation for its claims regarding the R value and energy efficiency of its INSULTEX House Wrap products.
Hi GD, some volume coming back this week and price increase today...you heard anything ? Thanks as always
Hi greendolphin,
Thanks for the update as always. So June 1st, is that when she might finally dismiss this suit ? What's your take on the timeline from now on...
Not kind of but very...let's wait for greendolphin to shed some light on what's happening now and why.
I'm not looking for a buyout, I want them to succeed. There were other factors before the FTC suit, like the machine in Indonesia later bought out and transferred to the US, btw another big perk having a Made in the USA tag for a product. To answer your question though, Uber, Virgin Galactic and ummm Tesla none of them were/are profitable because it takes time to establish a business...not sure what we're discussing here, I'm holding my shares long term, but sounds like you need to sell and move on.
Everything you mentioned is true, at a high level for a typical company in a normal environment. Not for these guys, they had good traction for sales before these corrupt FTC geniuses tried to squash them. The product was at Home Depot, which produced their own video about it's merits. I believe GD has more info on the potential sale they were going to lock with a national home builder or seller but due to the case that was cancelled - no one will touch this while a government supported case is going on. So to your point about not having sales, that will or at least should change when this case is officially dismissed by the courts and IVDN claims the win. It will take time for all of this to unfold, and sales to ramp up - the CEO kept IVDN afloat through all this last few years so I don't expect shareholders to try and push him out, in fact he will probably get more support now. I'm one of the shareholders for a lot of years, like GD, and I know many more that hold a good chunk of IVDN shares. I'm happy with the report the judge submitted and but I also understand that this was just step 1, it will take time to re-build what they have lost. I would like to see some of those international consultants that signed agreements with IVDN before or while the case was ongoing to now step up and find some international sales to start us off. Hopefully we hear something soon from the CEO, but I wouldn't anticipate anything until the case is officially over.
This morning: Innovative Designs Court Case Update
https://finance.yahoo.com/news/innovative-designs-court-case-120010842.html
This is amazing news greendolphin...exactly what we were waiting for...I assume it will still take some time for the actual case to end but hope IVDN files to dismiss this SHAM of a case fairly quickly...Thanks for the updates this is really big
Hi Green - looks like someone is anticipating news today or early next week or they know something already...good to see large volume with green on the price.
Hey GD - this is taking longer then expected, I assume not hearing any updates at this point means what you mentioned that IVDN will not have to present a defense and the judge will rule herself, which should be best case scenario if IVDN prevails. Thanks for keeping us updated
Hi GD, at this point can the judge rule on the case at anytime or are we expecting IVDN to have their day in court scheduled for defense ? Thanks
Hi Green - thanks for the update as always. What does that mean now ? Another delay because the judge will schedule a hearing for a few months out ? It's frustrating to watch this process, having been a shareholder for so long now, and I'm with you 100% on the product and believing this management...
Thanks GD, i see this as positive news even though we need more time to close this case and put it behind us. Keep us posted as always, much appreciated.
Hey GD - any updates ? it's been rather quiet all week...
Yeah understood. I remember when I joined this board, you and Profit were the first ones here, I have been holding/trading IVDN since that same timeframe so I hear you totally. It's always been the fact that the CEO used his own funds or sold his shares to keep this afloat in the hard times that made me believe in it.
Let's hope this comes to a positive end finally, and the company can move forward.
Thanks GD, I agree we might see movements in stock this week based on what comes out of the trial daily. If you hear anything please keep us all posted here...some of us have waited a long time for this, and we need a win here. Thanks
Hi greendolphin11, any updates to your knowledge ? I heard rumors of July trail now but can't confirm ? Thanks
As always Thanks for keeping us updated, much appreciated.
Do you have any updates on the case green ? Did the judge set a date to start it now ?
I hope you're right Profit...it's been a while now since the agreements were signed, time to see some results.
I hope you're right and the case still gets dismissed or won before the trial. Given the amount of time and effort so far I'm not so optimistic- though Im a long term investor and staying in.
I agree about new contracts, they need something to spark positive momentum. Hopefully one of the international agreements come through soon...
Thanks for keeping us updated GD
Looks like we're going to trial in Jan 2019. Hopefully GD can chime in with more details...
Yes, anyone hear anything ? Greendolphin do you have any idea why the recent uptick in volume and downward stock price pressure ?
Much appreciate your response and looking into it. I agree, this should end soon, and hopefully IVDN can move forward. I wish the judge made them pay for all this, total nonsense that was most likely brought on by a third party (competitor)...Thanks again for keep us updated this entire time.
Hi greendolphin, Thanks for all the information updates on the case. Have you heard anything from Friday Feb 16th ? I assume the case was not dismissed since no news was posted officially...any updates you have would be greatly appreciated.
I have not seen anything and yes the 14 days were up...I wonder how much longer this court fight will drag out. Hopefully we will hear something from management soon...
As of Jul 20th they have 14 days to respond with all backup for the R value tests per the judge. I hope this is settled and won by IVDN in early August so we can move on.
Looks like the FTC made an appearance on 6/6 and submitted a bunch of Exhibits. I wonder how long this drags out...
Looks like the date is 6/6 (tomorrow) on PACER
Director took compensation in a form of stock (40K shares)...that is a good sign that he (along with management) believe in long term viability of the company. He is a Consultant too, which makes it that much more credible, otherwise why take stock in a company that you don't believe can make it.
Hopefully, the suit ends quickly here and IVDN proves its case...
Thanks for posting this Profit, I said from the moment this FTC complaint was filed that DuPont is behind this negative campaign. They fear IVDN's patent and what this product means to their Tyvek. CEO comments at the end of the article reflect that as well...
That is a very good point, Profit - ultimately when it's all said and done this will be a huge win for them. I agree, these tests have been done with such issues in mind, I remember years ago how important it was to have independent labs test it. I believe this will be viewed as a hick up, when we look back in time...
I agree...they stated that they will fight this in court and that they stand behind the R value and the independent lab that did the testing. This may be rough in the next few months but I have invested in this early and stayed for a long time to bail now...
I thought the product is of the highest quality. This FTC article, if true, must have been stirred up by DuPont fearing that quality with the Patent filing pending. I hope this is a temporary obstacle, since the R value in question here was tested and accredited by a Lab.
65K is not low volume for IVDN down to 0.13 cents...if that article is true, DuPont had something to do with it. IVDN filed for a patent in June, they had it tested by an accredited Lab.
FTC sues Etna firm over claims that its house wrap also insulates
- link: http://triblive.com/local/allegheny/11417364-74/wrap-cents-designs
Does anyone know anything about this ? It is tanking the stock today ?
I took your advice ProfitScout and emailed the CEO (no response yet). I have been a shareholder for a long time now. I agree that more news/updates would have been beneficial. There is no denying the possible gains here, the product is solid and there is obviouos support of that - HomeDepot, Lowes, Lindus etc. We may be waiting for the patent to be approved before any major contracts are signed too...
That is a good point, Profit. HD views the product as high quality and obviously sees a future for it, proven with the website display and now the Home Depot video. Thanks for posting here...