searay2701
6日前
As per the IVDN company’s past statement , Joseph A. Riccelli has been appointed Interim CEO which denotes that he is only CEO here until this company can find and position another CEO for this company with more experience etc. Not taking away from Mr. Joseph A. Riccelli but with that in mind, I do not expect too see big a change here other than the youth picture helping things here a bit. Bottom line, unless things change dramatically here, we will probably still not see a company here that will really forge ahead as should have years back in order to to be able to get a big enough share of the overall construction business to see it’s stock price get anywhere near $1.00 per share. I would consider being lucky if during the year of 2025 the stock price gets back to $.40 per share area and considering a company being in business for many years, that is not something to brag about. JMORO now twenty-two years in business. I Truly hope that I am wrong, not ever going to put frosting on it, just saying it as I see it with all that is still and has been awaiting what has not really come yet for do long, this stock price at least holding and not diving to it’s worst level ever. Everyone must do their own constant research to come up with their own descisions.
searay2701
2週前
Now my question is, why did not the chairman of this company step down earlier as The CEO if he was not capable health wise or other, in order to have had the now interim CEO in position earlier in this company to have probably not got us into the position we are now in, waiting to get caught up in our filings and knowing that we have hopefully, after twenty-two years, that we have really turned the corner finally, into a going and profitable business.
ProfitScout
2週前
Be sure to read the IVDN 8K filing below which details the new management structure of the company at this time. The new CEO is young and well qualified to ensure that the company lives up the the high potential of its patented and superior Insultex products, going forward. The overdue fiscal Q3 financial report was not his fault and I have confidence that this will be resolved reasonably soon so that the stock can be returned to its normal retail trading status and start to reflect the strongly rising order flow we have already heard about in the company's previously issued news and filings of 2024 to date.
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INNOVATIVE DESIGNS INC (Form: 8-K, Received: 10/09/2024 13:13:18)
https://www.otcmarkets.com/filing/html?id=17887459&guid=gVL-kaSFt2dfJth
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On October 3, 2024, the Board of Directors of the registrant (the “Board”) held a special meeting for the purpose of formally invalidating a meeting of the Board purportedly held on September 26, 2024, due to the fact that proper notice of a meeting of the Board on September 26, 2024 was not given as set forth in Section 2.4 of the of the registrant’s bylaws. Accordingly, the actions described as having been taken by the Board on September 26, 2024 in the registrant’s Current Report on Form 8-K filed on September 27, 2024 have been voided ab initio.
Also on October 3, 2024, the Board accepted the resignation of Joseph Riccelli, Sr. as the registrant’s Chief Executive Officer, Chief Financial Officer and Principal Accounting Officer, effective immediately. The Board also appointed Joseph A. Riccelli to serve as the registrant’s Chief Executive Officer, Chief Financial Officer and Principal Accounting Officer, effective immediately. Joseph A. Riccelli has served as the registrant’s Vice President of Operations for over fifteen years and was with the registrant at its inception. He will serve in these capacities on an interim basis while the board interviews candidates for the positions. Joseph A. Riccelli’s compensation will be $2,000 per week. He will also receive a warrant to purchase 100,000 shares of the registrant’s common stock with an exercise price of $0.12 per share for a term of three years.
In addition, on October 3, 2024, the Board of Directors determined that Joseph Riccelli, Sr. will continue to serve as Chairman of the Board of Directors. It is expected that the registrant will retain Joseph Riccelli, Sr. as a consultant to facilitate a smooth transition and for his vast knowledge of the production and products, and the relationships with the registrant’s most important vendors.
There are no arrangements or understandings between Joseph A. Riccelli and any other persons pursuant to which he was appointed as described above. Joseph A. Riccelli is the son of Joseph Riccelli, Sr. Joseph A. Riccelli does not have any family relationship with any of the Company’s other directors or executive officers. Joseph A. Riccelli has no direct or indirect material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K.
searay2701
2週前
pitcook, as far as caring mostly that revenues keep increasing, I, like everyone would agree with you, my hope is that the expenses do not shoot up as well. Knowing the history of how things have worked out here so far and for so long a time, over twenty-two years, nothing would surprise me here that they do not have full control of what they are trying to attain and unless someone becomes the head head of this company in running it that has the youth, stamina, knowledge in the business IVDN is in along with the perseverance in the day to day running of this business, it will always be the same in being a very small company with big dreams but in maintaining a status of just getting by. I hope that I am wrong, but we have all seen what has happened here for over the twenty-two years and how, with excuses we have gone backwards and as shareholder’s, we are still currently, financially, still way worse off in the history of this company for investing in it. Reality is always what is present and we still have no continually quarterly financial figures along with other current important facts of this company other than knowing that we are still, now December 12, 2024, in the stuck mode Expert Market with our stock not tradesble.
pitcook
3週前
Honestly, the only statements that I, and more importantly, Wall Street investors care about is the financial statement. If sales comp exponentially higher the third and year end quarters, people will see the earnings reports and say who is this company? Once they go to the company website and learn about the miraculous evacuated cells Creating the insulation R – six Value, as I said, this is not a hard sell, this is not even a sell. This is just an education, and once they learn they buy the material.
Once Wall Street learns about the company, they will buy the stock. We are fortunate to be part of an esoteric group who actually know about the company and the Insultex Golden Goose. We will buy the stock once the damn thing starts trading again, way before the rest of the world learns about it’s properties The only thing that is a potential serious problem is that a competitor finds another way to do the similar action creating the continuous insulation and then we will be out of business. We need to get our product certified, and then the floodgates of money will open.
ProfitScout
3週前
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."
Source:
https://finance.yahoo.com/news/innovative-designs-sales-110000236.html
searay2701
3週前
I have noticed that no one who, quite awhile back, was carrying IVDN’s product or using it, like supply houses, construction folks etc, came out with statements about what they thought about it and why they were in some way associated with this product and no one has made any statements in recent months about what has been happening with the current moving of this product etc, there are no restrictions on anyone being able to make statements like they were many months back, kind of odd. JMOT
searay2701
3週前
Based on getting the end of the second quarter’s IVDN financial release on 10/01/2024, that was six months after that quarter’s end, we should be getting the July’s quarterly release by 01/01/2025. Meanwhile the shareholder’s, with this stock being tied up in The Expert Market, have no idea if the revenue figures are going to equal the one good quarter that did come in or if business is getting smothered by too many bitter ends that may not be getting tied together in the running of this business like having an accountant that is now on top of things, like properly coordinating the rest of this business such as being able to keep up with the getting the product out to the customers, and making sure that the payments for the products sold are coming in, that there are no delinquent accounts etc. Currently we shareholders’s are not seeing if the day to day business is keeping up with what is needed in order for this business to succeed. A lot of IVDN shareholder’s, if they have been here for a long period of time have seen what happened here in the past should have happened within a reasonable period of time, has so far turned out to be over twenty-two years ago and we are still in the waiting stage with this stock at it’s non tradeableb ( actual ) lowest price ever.
ProfitScout
3週前
Financial resources should not be any problem for IVDN management now since we saw how much revenues are swelling from the Fiscal Q2 report that has been filed (below). The delay is getting caught up to current is likely more related to the limited availability of certified independent auditors vs the huge number of OTC companies that need them today. Regardless, since they did get the Fiscal Q2 report filed during this delay period, I am sure they will get caught up with the overdue Fiscal Q3 report which is only one needed now to restore IVDN to normal OTC trading status.
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.
pitcook
1月前
I know Joey is on top of it expediting its release. I have major excitement waiting for it to come out so the stock starts trading again. If the third quarter comes close or even is greater than the second quarter increase of sales versus last years,
I can’t wait to buy more shares at these ridiculously low costs. And of course, then we will anxiously be waiting for the year-end report which was the end of October, and hopefully the sales momentum continued. As I have mentioned before with our disruptive technology, unique to the rest of the construction world , that once somebody learns about the properties of the evacuated cells. The reason is, this is not a hard sell, it is not even a sell, it is just an education.
Once somebody learns and buys it, I would guess if not 100% at least a high 90 percentile of people will continue to use it, which means our sales also should continue to rocket. This is such an esoteric company/product that really nobody knows about it. But the fact that once properly managed, etc. etc. it should dominate both the moisture barrier and insulation industries.
Again, the very few of us who know about this company and it’s material are going to be able to buy it dirt sheep relative to when the rest of Wall Street learns about it, and really could be a once in a lifetime stock buying opportunity
Once we get the updated certification that the material indeed has it’s R-Value, and all of the home builders will be able to use our material, while saving so much construction costs, with about 30% less Insulation needed, no Insulation Boards (Zip Board) needed, less lumber needed, there will be an auction to pay double digit dollars to license exclusively our Insultex Housewrap.
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