Innovative Designs Receives Notice of Allowance on Patent Application

Rhea-AI Summary

Innovative Designs (IVDN) has announced a significant achievement as the USPTO has issued a Notice of Allowance for its patent application regarding a proprietary process for forming closed and evacuated cell expanded low-density foam. This milestone is expected to facilitate growth in various markets, particularly in apparel. CEO Joseph Riccelli emphasized the validation of their Insultex® insulation as a key driver for future expansion. The company is also pursuing additional patent applications for other proprietary concepts.

Positive

• USPTO issued a Notice of Allowance for IVDN's patent application.
• Potential growth opportunities in various markets, including apparel.

Negative

• None.

Pittsburgh, PA, Jan. 11, 2023 (GLOBE NEWSWIRE) -- via NewMediaWire -- Innovative Designs (IVDN) is pleased to announce that the United States Patent and Trademark Office (USPTO) has agreed that our patent application defining our proprietary process for forming closed and evacuated cell expanded low density foam is entitled to patent protection.  The USPTO has issued a Notice of Allowance and an appropriate patent will issue in due course. A Notice of Allowance is a document sent to a patent applicant from the United States Patent and Trademark Office (USPTO) after a patent examiner has decided to issue the requested patent. Additional patent applications on other proprietary concepts are also being pursued. 

Innovative Designs CEO Joseph Riccelli commented, “This is another step forward in the validation process for our Insultex® insulation. Once in place it will open the door for unprecedented growth into apparel many other markets.”

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.

Joseph Riccelli
412-799-0350
joer@idigear.com

FAQ

What is the significance of the Notice of Allowance for Innovative Designs (IVDN)?

The Notice of Allowance from the USPTO indicates that IVDN's patent application for its proprietary foam process is moving towards final approval, which is significant for future business growth.

How could the patent for closed cell expanded low density foam impact IVDN's market position?

The patent could enhance IVDN's market position by enabling the company to protect its unique technology, allowing for potential market expansion, particularly in the apparel sector.

Who commented on the patent approval announcement for IVDN?

CEO Joseph Riccelli commented on the milestone, highlighting its importance for future growth.

What are the future plans for Innovative Designs (IVDN) regarding patents?

IVDN is pursuing additional patent applications for other proprietary concepts beyond the current foam technology.