Innovative Designs Inc (IVDN)

[ProfitScout]

Hi Pitcook, of course we know that IVDN has been delayed in filing its current financial report for the company's fiscal 2nd quarter which was due by June 15th. This is not an uncommon situation in the OTC market today as there is a shortage of qualified auditors available to the many small cap companies who need them. What we do have available are the official news releases from IVDN which clearly state that the company is experiencing record sales and revenue growth in 2024 (latest news below). It's only a matter of time for the financial reports to get worked out and filed which will allow IVDN to get back to its proper OTCQB listing and trading.
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PITTSBURGH, PA - (NewMediaWire) - May 30, 2024 - Innovative Designs, Inc. (OTCQB: IVDN) continues its upward sales trend into the end of May 2024. Year-to-date sales have already surpassed FYE2023 by over 33% with 5 months remaining in FYE2024. The growth is attributed to a substantial increase in the number of new retailers that are now carrying the company's Insultex House Wrap(R). As new energy codes are implemented across the United States, homebuilders/contractors are using Insultex House Wrap(R) as a convenient R-Value continuous insulation to a wall system.

Our notable growth in sales can be attributed to Built Link Solutions (Formerly Compound Construction) based in Grand Rapids, MI. Built Link Solutions is working to become the primary source for industry professionals, innovators, and stakeholders to discover, evaluate, and adopt the latest advancements in building materials, tools and technologies. Having curated a comprehensive national distribution network, they bring pioneering solutions like Insultex House Wrap(R) to market, propelling the evolution of the construction industry towards a future where innovation thrives, and buildings meet the needs of tomorrow. Since coming onboard, Built Link Solutions has:

Established a comprehensive national distribution network to service customers where they are when they need it.

Grown national awareness of product benefits and specifications through their dedicated sales agents and attendance at building industry trade shows across the country.

Conducted in-person sales training and online seminars to educate sales associates on Insultex House Wrap(R).

Streamlined the sales process to deliver consistent and superior level service to customers of all sizes and needs.

Implemented volume pricing models and incentive discounts to meet the needs for scale and demand.

As building codes and exterior R-Value requirements are quickly evolving across the country, Built Link Solutions has proven highly proactive in contacting prospective accounts, notifying them of the cost-effective solution that our Insultex House Wrap(R) provides.

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."

About Innovative Designs, Inc.

Innovative Designs, Inc. manufactures the Insultex(R) House Wrap and Arctic Armor(R) Line, under the "i.d.i.gear" label featuring INSULTEX(R). Patented INSULTEX(R) is the thinnest, lightest, and warmest insulator in the market today. For more information, please visit http://www.idigear.com or http://www.insultexhousewrap.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 Riccelli, CEO

412-799-0350
[e-mail]

http://www.insultexhousewrap.com

Built Link Solutions

Randy Kimbler, Dir. Business Development

616-443-3200

[e-mail]

https://finance.yahoo.com/news/innovative-designs-sales-110000236.html