ProfitScout
7日前
$IVDN News: Innovative Designs, Inc. Welcomes Experienced Real Estate Developer With Relations to Top Homebuilding Names Including D.R. Horton, NVR / Ryan Homes and More
PITTSBURGH, PA - January 23, 2025 (NEWMEDIAWIRE) - Innovative Designs, Inc. (OTC Pink: IVDN) is very pleased to announce a new addition to the Company's Board of Directors, Mr. John Spagnolo Jr., an accomplished real estate investor and developer. For over 20 years Mr. Spagnolo, Jr. has been successful in building high end homes, residential and commercial properties and other development projects. Most notably, over the course of his career, Mr. Spagnolo, Jr., has nurtured relationships with key contacts at some of the most important companies in the multi-billion-dollar homebuilding and construction industry. These include D.R. Horton, NVR [Ryan Homes], Maronda Homes, Rockford Homes, Fischer Homes, Infinity Custom Homes and more.
Mr. Spagnolo Jr. is the owner of Sandy Hill Excavation and Development, offering excavation and site development for production builders, in addition to general contracting and project management for commercial and residential projects, as well as land acquisition for residential and commercial real estate developments in the Pittsburgh, Columbus and Nashville markets.
Among his many capabilities and responsibilities, Mr. Spagnolo, Jr. has directly managed vital functions including site construction, banking relationships, completing bids for construction projects, negotiating of buydown schedule and prices with builders, permits & approvals, completion of budgets & proformas, new home construction, residential remodeling and commercial construction. He has also purchased commercial strip centers, mobile home parks, purchased, rehabbed, and resold over thirty residential homes, purchased over 60 units of student housing and also 5 supermarkets.
Regarding his new role on the Innovative Designs Board of Directors, John Spagnolo Jr. stated: "I am strongly enthusiastic about the sales growth potential of the unique Insultex House Wrap® product in the building and remodeling environment that we see before us today. This is the primary reason I have accepted the offer to join the Innovative Designs team at this time. With its patented evacuated cell design, Insultex House Wrap® is catching on at the go-to solution for all the most important standards of thermal insulation that builders and remodelers must now meet to stay competitive and in compliance with new government building codes. In 2025 and beyond, I believe we can introduce the unmatched advantages of Insultex House Wrap® to building professionals on every level of the industry and I expect that they will want to use this superior insulation solution in significantly increasing quantities."
Joseph A. Riccelli, CEO of Innovative Designs added, "Welcoming John Spagnolo Jr. to the Innovative Designs Board of Directors is an exceptionally positive new development for our company and we are already working well together. With his extensive knowledge and experience in the building industry as well as his valuable contacts with some of the largest and most important building companies including D.R. Horton and NVR, I am greatly looking forward to all that John can bring to the Innovative Designs marketing program."
Mr. Riccelli continued, "As promised in my letter to IVDN shareholders in December, we are making every effort to keep investors well updated on our progress this year. We are presently completing our year-end 10K financial report and plans for our upcoming on-line, interactive shareholder meeting. We recently hired a new PCAOB auditing firm that has already exceeded our expectations, and we are collaborating closely with them to keep up with timely financial reporting. We look forward to updating you on all of our progress and sales growth again soon."
Innovative Designs sales for the current 2025 1st quarter, which is still in progress, show a comp increase in excess of 7 times sales in the 1st quarter of 2024. In addition, over a quarter of a million dollars in purchase orders are in the queue to be filled.
About Innovative Designs, Inc.
Innovative Designs, Inc. manufactures the Insultex® House Wrap and Arctic Armor® Line, under the "i.d.i.gear" label featuring INSULTEX®. Patented INSULTEX® is the thinnest, lightest and warmest insulator in the market today. For more information, please visit: http://www.insultexhousewrap.com and 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:
Innovative Designs, Inc.
Joseph A. Riccelli, CEO
412-799-0350
riccellijjr@insultexhousewrap.com
http://www.insultexhousewrap.com
View the original release on www.newmediawire.com
pitcook
1週前
Congratulations to Mr. Joseph Riccelli Jr.!
A well deserved decision by the BOD's to officially name him the permanent CEO. The increased sales and forward action decisions showed his great leadership, in the short time he has been running the Company. We all look forward to the Year End, and future Quarterly Reports, that will show why this might be the most underpriced stock on all of the markets.
Once we take more market share from the leaders of both the Moisture Barrier/House-Wrap, and (thanks to the new Govt.Continuous Insulation Code) the Insulation Industries, they will be racing to Etna Pa. to bid for the rights to license our one of a kind Disruptive Technology. This is just 1 of many industries that our material would be a game changer to anyone with the license to use our Evacuated Cell vacuum created material.
Go to our website to see a picture of how, when used on the roof of a new room addition, this roof was the only one in the neighborhood with snow still on it. All of the others had the snow melted by the escaping heat. Again, this is just on many Industries that need our Energy Saving Golden Goose Insultex.
We now have a full time leader of the company that will make the proper decisions, to drive the sales to make us become what should be a Nationally known Brand, with a high stock value that it should be.
ProfitScout
1週前
IVDN filed an 8K today covering more management improvements for the company's growth.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On January 10, 2025 the Board of Directors of the registrant (the “Board”) held a special meeting for the purpose of formally electing two new members of the Board of Directors and appointing two new officers.
On January 10, 2025, the Board unanimously approved and elected Joseph Riccelli Jr.as a member of the Board and unanimously approved and elected Mr. Riccelli as the permanent Chief Executive Officer, effective immediately.
On January 10, 2025, the Board unanimously approved John Spagnolo as a member of the Board.
On January 10, 2025, the Board unanimously approved and elected Donald Garlotta as the Secretary of the Board of Directors, effective immediately.
Link:
https://www.otcmarkets.com/filing/html?id=18119637&guid=B50-kqYg0VIfJth
Dickmo
2週前
Nevo - Your comments are well-considered. As you may know, there is no 'free lunch' when it comes to rapidly growing a company with a green field ahead. The company requires capacity, marketing, additional personnel, and capital. I completely agree that a long-term reliance on a single source for production is an item that requires attention. As for the state of a second machine, one can only speculate as to its condition. It is an issue that will need to be addressed.
I have had the pleasure of working with three highly ranked Inc 500 companies, all growing at 100% or more annually. If IVDN only grew at 100% annually over the next three to five years, I would be most disappointed. But to show rapid growth, one needs to understand that the company is going to need money. Internally generated funds will not support rapid growth in an inventory-based business with a fairly long supply chain. In simple English, I expect that the company will need to sell shares to raise capital. When that happens, how and at what price make all the difference. There are bad financing, good, and great financing decisions. It's all a matter of details.
I think IVDN's timing is perfect. Whether by design or accident, it doesn't matter. We play the hand we are dealt. I know what you do - nothing more. But I have done some research on the industry. IVDN is in the right place at the right time with the right product. It is now a matter of execution, which I will admit, is not an easy feat. I like what I've seen recently. It may be a bumpy ride. Growing tiny companies into serious competitors often is. But I like our odds.
searay2701
3週前
This is the year, 2025, IVDN, after expenses, must see a steady net profit from this business. This stock hinges on this company staying up to date on it’s OTC reporting and being, after so long in business, a profitable operation. Lately, we seem to be heading in the right direction, only more time will tell.
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