• Sole Maker of Patented Insultex® Insulation Delivering Construction Cost and Energy Saving Performance Superior to All Competition.
• Unique Evacuated Cell House Wrap Material Provides an Unmatched R-6 Rating, Water Vapor, Air & Wind Barrier and Other Important Advantages.
• 2024 Fiscal Third Quarter Revenues More Than Doubled Same Period in 2023.
• First Nine Months of Fiscal 2024 Delivered a 285% Increase Over 2023.
• Accelerating Order Flow and Record Backlog in 2024 vs. No Backlog in 2023.
• New Government Building Codes Require Continuous Insulation with Higher Performance and IVDN Meets or Exceeds These Standards Where Many Competitors Now Do Not.
• Increased Order Fulfilment Capabilities Recently Added with Plans for Further Enhancement to Handle Increasing Demand.
• Greater Energy Savings from Insultex® Insulation Delivers Economic Gains & Tax Credits for the User and Carbon Reduction for the Environment.
Innovative Designs, Inc. (Symbol: IVDN), manufactures and markets its unique, patented Insultex® material, a quantum leap forward in insulation as the thinnest, lightest and warmest insulator on the market today. IVDN products deliver optimum warmth and comfort via insulating, windproof and waterproof protection with no animal materials. IVDN holds issued US patents on both the evacuated cell material and its manufacturing process.
For home building, home remodeling and other construction, significant improvements in energy efficiency measures, such as IVDN Insultex House Wrap® can provide, have never been more important. Superior insulation, for heating or cooling, is fast becoming a primary factor in the multi-billion dollar construction and remodeling industry today. In addition to lowering construction costs because additional insulation boards or supports are not needed, Insultex® use results in high energy efficiency and a reduction of greenhouse gas emissions that contribute to the global climate change crisis.
IVDN Insultex House Wrap® delivers an unmatched R-6 rating because of its unique and patented evacuated or vacuum cell structure design. The dedicated IVDN Insultex House Wrap® website explains the scientific principles in detail along with visual aids. Insultex® also provides a moisture barrier and other key benefits that make it simply the best insulation choice available today.
The IVDN Insultex House Wrap ® website may be visited at http://www.insultexhousewrap.com.
Homeowners who upgrade to superior IVDN Insultex House Wrap® insulation may also qualify for substantial tax credits under The Inflation Reduction Act, in addition to enjoying the lower energy bills that result.
As building codes and exterior R-Value requirements are quickly evolving across the country, IVDN distributor Built Link Solutions has proven highly proactive in contacting prospective accounts, notifying them of the cost-effective solution that Insultex House Wrap® provides.
Randy Kimbler, Director of Business Development for Built Link Solutions, stated: "Insultex House Wrap® 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."
For investors, IVDN has a very small share structure with only about 38 million shares outstanding and a public float of about 16 million shares. Also, according to the latest 10-K filing, IVDN Management and Directors are holding over 8 million of these shares making IVDN a very lean stock.
Innovative Designs Inc. Reports Record Sales Results to Shareholders
On December 30th IVDN issued a letter to shareholders from new CEO Joseph A. Riccelli.
Mr. Riccelli stated:
“The Company's sales revenues for the fiscal third quarter ending July 31, 2024, reached over $250K, surpassing double the $124K total from the same period in 2023. For the trailing nine months from fiscal Q3 in 2024, revenues reached more than $640K, a 280% increase over the $223K revenue results in 2023.
The Company's full fiscal year ended on October 31, 2024 and we are currently working to complete this financial report which will present even more rapid sales growth. We can now project a 2024 fiscal year-end total of over $1.2M. After this year-end report is filed, we will hold an IVDN investor conference call and shareholder's meeting in the second quarter. Sales growth is also continuing in our fiscal first quarter with the largest backorder for Insultex House Wrap® that the company has ever seen, by far vs. no backlog last year.
A significant catalyst to the surging sales of IVDN Insultex House Wrap® has been new government building codes calling for continuous insulation and exterior R-Value requirements which are going into effect across the USA. Insultex House Wrap® has proven to be the best overall solution to these new requirements in terms of performance, cost effectiveness and ease of installation. Insultex House Wrap® delivers all this thanks to its unique and patented vacuum cell structure design. No other product on the market today offers a vacuum cell structure. A vacuum is the best thermal insulation possible and only Insultex® incorporates countless evacuated cells. Insultex® also provides a moisture barrier and other key benefits that make it the best choice for home builders and home remodelers for jobs of any size.
Once a new customer buys Insultex House Wrap®, which is a disruptive technology in the building industry, we are finding that they continue to reorder. Insultex House Wrap® provides a substantial savings for new construction, adding an R-6 moisture barrier membrane that does not need additional insulation boards or other support as competitive products do.
With the increasing demand for Insultex House Wrap®, one of our top priorities has become increasing new production to maintain a timely order flow. To this end, we have developed new production resources in the last few months which are now able to deliver higher levels of inventory for customers placing rising orders. As demand grows, we have plans for further manufacturing and production. New IVDN marketing programs and additional product certifications are also planned.”
Follow Innovative Designs, Inc. (IVDN) on X (formerly Twitter) here: https://twitter.com/riccelli_joseph
For more information on $IVDN visit: http://www.insultexhousewrap.com and http://www.idigear.com
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Media Contact
Company Name: INNOVATIVE DESIGNS, INC.
Contact Person: Joseph Riccelli, CEO
Email: Send Email
Phone: 412-799-0350
Address:124 Cherry St
City: Pittsburgh
State: Pennsylvania
Country: United States
Website: www.idigear.com
