$IVDN has a Very Small Stock Structure of Only 36 Million Outstanding Shares / 16 Million Float
INNOVATIVE DESIGNS, INC (OTCMKTS:IVDN)
— IVDN CEO Joseph Riccelli
PITTSBURGH, PENNSYLVANIA, UNITED STATES, October 5, 2023 /EINPresswire.com/ — Large-Scale Commercial Modular Construction Firm Added as One of Multiple New Sales Accounts for Superior Insulation with R-6 Value No Competitor Can Match: Innovative Designs, Inc. (OTCQB: IVDN)
Very Small Stock Structure of Only 36 Million OS / 16 Million Float
Sole Maker of Patented Insultex® Insulation Delivering Energy Saving Performance Far Superior to All Competition.
Unique Evacuated Cell House Wrap Material Provides an Unmatched R-6 Rating Plus a Water Vapor, Air, and Wind Barrier and Other Superior Benefits.
Greater Energy Savings from Insultex® Insulation Delivers Substantial Economic Gains and Tax Credits for the User and Also Carbon Reduction for the Environment.
Multiple New Sales Accounts were Added including Large-Scale Commercial Modular Construction Firm Guerdon, LLC.
eCommerce Section Added to the Company Website for Direct, online ordering.
Significant New Orders for Insultex House Wrap® from Repeat Customers.
Insider Buying from Board Member with Lockheed Martin & NASA Background.
New US Patent Issued for Insultex® Manufacturing Process.
International Distributor Agreement Signed with a Minimum Order Valued at $2 Million Per Year.
Innovative Designs, Inc. (OTCQB: IVDN), manufactures and markets its unique, patented Insultex® material, a quantum leap forward in insulation as the thinnest, lightest, and warmest insulator in the market today. IVDN products deliver optimum warmth and comfort with insulating, windproof, and waterproof protection with no animal materials used. IVDN has employed its proprietary Insultex® material to commercialize both clothing and home-building insulation products.
Greater energy efficiency has never been more important in our history with the major driving factors of economic savings for the user as well as carbon reduction to help address the greenhouse gas climate crisis. Better insulation delivers real-world gains for both of these vital objectives and patented IVDN Insultex® Insulation is now the most energy-efficient insulation on the market by a wide margin.
This new evacuated cellular structured fabric, available exclusively from IVDN, is truly revolutionary. It has been proven that a vacuum is the best insulation and IVDN Insultex® incorporates countless evacuated cells. These individual cells create a tortuous path for thermal energy. Insultex® consists of a three-dimensional network of evacuated cells, which impacts the conduction of thermal energy at a level unmatched by any competitive products. IVDN holds US patents on both the evacuated cell material and its manufacturing process.
According to Grand View Research, the global insulation market size was estimated at USD $52.18 billion in 2018 and is expected to expand at a CAGR of 5.7% going forward. Increasing consumer awareness regarding energy conservation is estimated to propel growth.
Contractors and builders who use IVDN Insultex House Wrap® have the ability to not only add a water vapor, air, and wind barrier but add an additional R-6 insulation to a structure. Builders who have to meet more stringent R-Value requirements can simply add IVDN Insultex House Wrap® to their wall structure and immediately add an additional R-6 insulation value.
Homeowners who upgrade to superior IVDN Insultex House Wrap® insulation may also qualify for substantial tax credits in addition to enjoying the lower energy bills that result. Installing superior IVDN Insultex House Wrap® is also very good for the planet as less energy consumption means less carbon production by energy suppliers. It’s an ideal win-win for the homeowner and the environment.
Long-time customer and home remodeler Lindus Construction strongly endorses and markets the IVDN Insultex™ House Wrap® product. See the Lindus website with their commentary here: https://lindusconstruction.com/blog/insultex-house-wrap-future-home-weatherization/.
For investors, IVDN has a very small share structure with only about 36 million shares outstanding and a public float of about 16 million shares. Additionally, according to the latest 10-K filing, CEO Joseph Riccelli and Company Directors are holding over 8 million of these shares making IVDN a very lean stock.
New IVDN Sales Accounts Added Including Guerdon LLC Large-Scale Commercial Modular Construction Firm with Projects in the US & Canada
On October 2nd IVDN announced that the company continues to add new sales accounts across the United States. Three of the most recent additions are as follows:
Guerdon, LLC is the leading manufacturer of large-scale, commercial modular construction projects in the Western US and Canada. With their factory and corporate office located in Boise, Idaho they serve 10 western states including California, Colorado, Idaho, Montana, Nevada, North Dakota, Oregon, Utah, Washington, and Wyoming as well as Canada. They are currently working on a project in Alaska.
The Guerdon team and facilities are equipped to handle a wide range of projects including Multi-family Modular Buildings, Modular Hotels & Hospitality facilities, Assisted Living & Senior Housing Centers, Student Housing Modular Buildings, Modular Workforce Housing or Man Camps, and more. Learn more about Guerdon at: https://www.guerdonmodularbuildings.com/
Skehan Home Center, located in Ossipee, New Hampshire, is a family-owned business that has been in operation since 1985. Their Outside Sales Staff is a group of experienced professionals that make job site and office visits. Learn more about Skehan at: https://skehanhomecenter.com/.
Outside In Construction is located in Alton, New Hampshire. Outside In Construction is a family business that has been providing service for Laconia, NH, Wolfeboro, NH & the Lakes Region of New Hampshire for 23 years and is a Design and build specialized building and remodeling firm. Learn more about Outside in Constriction at: https://www.oiconstruction.com/
IVDN CEO Joseph Riccelli commented “We welcome these new accounts along with all the others that have come onboard as either contractors, home builders or retailers. With this continued expansion, customers are now finding it easier to locate our products.”
New eCommerce Section Added to Company Website for Direct, On-Line Ordering of Insultex House Wrap®
In August IVDN updated the company’s Insultex House Wrap® website. In response to rising customer interest, the website now includes a new e-commerce section where orders for the product may be placed directly online with the company. Pricing has been listed for different options. Visit the new IVDN eCommerce option under the “Shop” tab at this direct link: https://insultexhousewrap.com/shop/.
Significant New Orders for Insultex House Wrap® from Two Repeat Customers
On June 1st IVDN announced significant new orders for its Insultex House Wrap® from two separate customers in the Midwest region of the US. The Company is processing and shipping the orders immediately.
One order was from Lindus Construction in Wisconsin, which has been installing Insultex® House Wrap on their clients’ homes for many years. Lindus Construction fully appreciates the unequaled energy saving and other benefits of the IVDN product which increases the value of the homes they work on. In all the years Lindus Construction has been installing Insultex House Wrap® there has never been even a single customer dissatisfied with its performance.
The second order was from a repeat customer in Minnesota which is a manufacturer of modular homes. This is another excellent application of Insultex House Wrap® for superior energy savings and other high-value benefits to enhance the long-term value of the homes where it is installed. Better insulation means lower energy bills, better home protection from the elements, and a reduction in carbon output from energy suppliers for a better environment.
Board Member Robert K. Adams Makes New $100,000 Direct Investment in IVDN
On May 30th an SEC Form 4 filing was made, reporting that Company Board of Directors member Robert K. Adams had purchased 500,000 shares of IVDN common stock at the market price on that date of .20 per share. This transaction resulted in a cash payment to the Company of $100,000 which will be used to help further current plans to expand production and marketing of the Insultex® insulation product line. With this 500,000 share purchase, Mr. Adams has added to his IVDN common stock holdings of 871,300 shares in total. The SEC filing with additional details may be viewed at this direct
Regarding his IVDN personal investment, Robert K. Adams stated, “I see very high return potential in the Innovative Designs business plan going forward from this point. The Company’s Insultex House Wrap®, IDI Gear clothing line and other products, made with our patented and unique evacuated cell material, offer far superior performance to all competitive options on the market today. Innovative Designs is the sole source of this incredible material which has been finally validated via the Federal Court victories recently won by the company.Now that we are in a position to focus all of our attention and energies on marketing the Insultex® product lines this is the time of opportunity we have been working towards and we intend to develop our market share to its fullest.”
Robert K. Adams is a very accomplished member of the IVDN Board of Directors. Mr. Adams graduated from Texas A&I University with a degree in Electrical Engineering and he has worked in some impressive professional positions. He began his career at the Lockheed Martin Corporation working on projects for NASA. Mr. Adams then moved on to the Department of Defense as an electrical engineer at Kelly Air Force Base. Afterward, Mr. Adams was recruited to head a cyber security development team for the Department of Defense with direct work for the US Air Force. He later established his own private company to support clients through the investigation of technical and scientific research, government policies and procedures, patent development, and engineering concepts.
IVDN Receives Patent Award for Propriety Insulation Manufacturing Process
On April 20th IVDN announced that the United States Patent and Trademark Office (USPTO) has issued Patent # 11,623.375 B2 defining the Company’s proprietary process for forming closed and evacuated cell expanded low-density foam used to make the superior performance Insultex® insulation material. The USPTO first issued in January 2023 a Notice of Allowance and the final patent was issued accordingly.
It should be noted that the USPTO generally takes a very long period to issue patents, sometimes several years. However, in the case of the IVDN Insultex® and its propriety manufacturing process, the patents were issued much quicker because there are simply no competitive products or technologies that have mastered the advancement of closed and evacuated cells for insulation. IVDN is the sole source in the world for this game-changing and now fully patent-protected advancement.
Innovative Designs CEO Joseph Riccelli commented, “This is a key milestone and validation for our Insultex® insulation. Now that this patent is in place, we anticipate unprecedented growth into apparel and many other markets.”
International Distributor Agreement with a Minimum Order Valued at Approximately $2 Million Per Year
On December 7th IVDN announced entering into an International Distributorship Agreement with Phoenix Nanotech LTD, Norfolk, England. Phoenix Nanotech will maintain exclusive distribution rights in Commonwealth Countries. The Commonwealth is a voluntary association of 56 independent and equal countries. It is home to 2.5 billion people and includes both advanced economies and developing countries. Thirty-two of the members are small states, including many island nations. The member governments have agreed to shared goals like development, democracy, and peace.
The signed agreement states Phoenix Nanotech LTD will purchase a minimum of 1,000,000 yards of Innovative Design’s exclusive insulation Insultex™ and a minimum of 1,000 rolls of Insultex™ House Wrap in a calendar year.
IVDN management has confirmed that this volume of Insultex™ material represents a revenue boost to the company of approximately $2 million USD. With the number of countries in The Commonwealth to be served, this figure could actually go much higher as Phoenix Nanotech begins to introduce Insultex™ to the European region in the coming months. At this time of elevated energy prices and diminished fuel supply due to ongoing conflicts, energy-saving solutions such as Insultex™ have never been more important.
Phoenix Nanotech CEO, Leigh Allison, commented, “We were delighted to sign an international distributorship agreement with Innovative Designs, Inc. The transition towards net-zero by 2050 will involve profound, sometimes disruptive products and ‘Insultex’ with its global multiple application potential is definitely one of those products.”
IVDN Interview with Bloomberg U.S. on RedChip Money Report
To view the interview segment with IVDN CEO Joseph Riccelli visit:
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IVDN’s Insultex House Wrap Installation