- Patented Insultex® Insulation Delivering Energy Saving Performance Far Superior to All Competition.
- Ready to Supply R-6 Rated Insultex® House Wrap for Hurricane Ian Rebuilding in Florida.
- Recent Court Victory Positions Company for Expanded Nationwide Marketing of Unmatched, R-6 Rated Insultex® House Wrap.
- FTC Paying $260,000 to IVDN for Fees, Costs & Expenses Related to Court Case Ruled in the Company’s Favor.
- Insultex® Winter Clothing Line for Sports and Outdoor Safety Using No Animal Materials.
- Distributor Base Expansion with the Goal of Total US Coverage.
Innovative Designs, Inc. (OTCQB: IVDN), manufactures and markets its 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. IVDN has used its proprietary Insultex® material to commercialize both clothing and home building insulation products which have never been more important with the fever pitch demand for greater energy efficiency today.
In the wake of Florida’s Hurricane Ian, IVDN is now working to supply its unmatched, R-6 certified Insultex House Wrap® for the massive rebuilding effort that will be taking place over the next year or more. Billions of dollars of homes will have to be rebuilt in Florida. IVDN management is making a commitment to aid in this process as much as possible by delivering its Insultex House Wrap® that far outperforms all other home insulation products.
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. Insultex® consists of a three-dimensional network of a countless number of evacuated cells, which impacts the conduction of thermal energy. The result of these countless evacuated cells is the creation and enforcement of a thermal energy tortuous path within the Insultex®.
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 & builders who use IVDN Insultex House Wrap® have the ability to not only add 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.
Long-time customer and home builder 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/.
IVDN has a very small share structure with only about 34 million shares outstanding and a public float of about 16 million shares. Additionally, according to the latest 10-K filing, CEO Joseph Riccelli and two Directors are holding over 8 million of these shares making IVDN a very lean stock.
- Settlement With FTC for $260,000 Payable to IVDN
On September 1st IVDN announced an agreement with the Federal Trade Commission (“FTC”) for a settlement payment to IVDN seeking fees, costs, and expenses approved by the Court on June 29, 2022. The amount is $260,000 payable to IVDN. On August 30th IVDN received the first payment of $200,000. This is a result of filing a motion pursuant to the Equal Access to Justice Act that was filed against the FTC after the court dismissed a case involving IVDN.
- Innovative Designs Adds Major Distributor Hartman Independent
On August 25th IVDN announced a new distributorship agreement with Hartman Independent, of Western Pennsylvania. For over 70 years, Hartman has been supplying a wide range of building materials to the industrial, construction, and dealer markets. Hartman, with its 6 outside salesmen, will cover eastern Ohio, northern West Virginia, western and central Pennsylvania, and portions of New York, Maryland, and Virginia. See more information on the Hartman Independent website here: https://hartmanindco.com/ .
- IVDN Hires Well Established and Successful Marketing Agency
On July 1st IVDN announced the hiring of McKibbin Consulting to assist in the marketing of its Insultex House Wrap®. McKibbin Consulting was established in 2010 and is staffed with highly dedicated, skilled experienced professionals. Their success is based on long-term relationships with companies in various industries. Learn more about McKibbin’s success on their website here: http://mckibbinconsulting.com/
McKibbin Consulting President, Jill McKibbin, commented, “Insultex House Wrap, a revolutionized building material that combines house wrap and insulation in one product, will help to reshape the construction industry saving time and money for contractors and homeowners alike. It’s exciting to help make connections in the construction industry as a way to introduce the product. The feedback as to how Insultex House Wrap is making a positive impact on a general contractor’s bottom line is impactful. As more contractors become aware of the benefits of Insultex House Wrap, I anticipate it will become the product of choice in the construction industry and I’m proud to know McKibbin Consulting has been instrumental in helping to make that happen.”
- Distributorship Expansion
On June 13th IVDN announced it has been contacted by and entered into negotiations with several companies interested in becoming a licensed distributor of its Insultex House Wrap®. The interested parties would add the following states to the current territories already in place: Ohio, Pennsylvania, Colorado, New York, and West Virginia. Innovative Designs Inc. CEO, Joseph Riccelli, commented, “Adding these new distributors would increase our coverage in the contiguous U.S. to 30%. Our goal has always been to eventually have distributorship coverage in all the key areas across the United States. These additional distributors will be positioned in locations where homebuilders and contractors are in abundance. Our expectations are a substantial increase in revenue as these new distributors come on board.”
IVDN Interview with Bloomberg U.S. on RedChip Money Report
To view the interview segment at any time visit: https://youtu.be/jTF2_GrnH3c
For more information on Innovative Designs Inc. (OTCQB: IVDN) visit the company’s 2 websites at: http://www.idigear.com and http://www.insultexhousewrap.com.
DISCLAIMER: This article is purely for informational purposes and is not a recommendation in any way for buying or selling stocks.
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: PA 15223
Country: United States
Website: www.idigear.com
