Innovative Designs Inc (IVDN)

[ProfitScout]

IVDN has made made up all but one overdue financial filing now, which is the fiscal Q3 that was due on September 15th. We should see that filed soon, especially since the new management is in place now and working hard to get all the bases covered. We already know that IVDN is having a banner sales year in 2024 from the strong surge in revenues that was reported in the Q2 financial filing (below):

$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.