Innovative Designs Update to Shareholders
Innovative Designs Inc. (OTCQB: IVDN) recently reported important milestones contributing to its long-term growth strategy. After favorable litigation outcomes regarding the marketing of Insultex House Wrap®, the company is expanding its manufacturing and distribution efforts. New distributors are generating increasing orders monthly, as demand rises amid soaring energy prices. Insultex House Wrap® is touted as the thinnest and highest-performing insulation, capable of significantly improving building efficiency. The company aims to produce Insultex in-house for greater market share and larger order fulfillment.
- Achieved favorable rulings in litigation regarding Insultex House Wrap marketing.
- Expanding manufacturing and distribution efforts to meet rising demand.
- New distributors generating increasing monthly orders.
- Insultex House Wrap recognized for superior insulation performance.
- Current financial condition prevents immediate production of Insultex in-house.
- Uncertainty in predicting timeline for equipment production.
Pittsburgh, PA, June 01, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- Innovative Designs Inc. (OTCQB: IVDN): Our company has been achieving some very positive and important milestones over the past several months which are contributing to the long-term growth plan that we believe can deliver substantially higher value for everyone holding positions in IVDN.
As you may be aware, the company recently received favorable rulings in a litigation issue over our rights to market Insultex House Wrap® which has been conclusively demonstrated to offer far superior performance to all competitive products on the market today. Since the favorable final resolution of the litigation issue in late 2021 we have been working to re-launch and expand our manufacturing and nationwide marketing efforts. To this end, we have been adding new distributors who are beginning to bring us increasing orders for Insultex House Wrap® each month now. As customers learn of the superior performance from our product, they are ordering Insultex House Wrap® and, at a time when energy prices are surging to all-time highs, insulation performance has never been more important. Although we do not announce each new customer and order we receive, the rising flow of orders will be reflected in our quarterly financial reports going forward.
Management remains committed to producing Insultex using its own equipment. However, given the cost of bringing the equipment into production mode and our current financial condition a time estimate cannot be predicted yet. Once the Company is able to produce Insultex on its own, it will be able to capture significantly greater market share and also be able to reliably fill much larger order sizes from customers at every level of the construction industry for both residential and commercial applications. It will also make Insultex available for many other uses beyond the building insulation industry.
Insultex House Wrap®, available only from IVDN, has been extensively tested and demonstrated to be the thinnest and also highest performing insulation product on the commercial market. Insultex House Wrap® is comprised of evacuated cells, which create a tortuous path for either heat/cold to pass through. Insultex House Wrap® is Water and Moisture-Resistant, Air and Wind-Resistant, and also UV-Resistant. Insultex® protects against water intrusion that could get behind the exterior cladding which in turn can cause mold, mildew and rotting. Insultex® will increase comfort in a building structure by reducing drafts and increasing its efficiency. UV inhibitors are blended into the polymeric material to protect it from harmful ultraviolet degradation.
The majority of extensive testing for Insultex House Wrap® has been conducted by an independent certified laboratory using an accreditation agency-approved modified ASTM-C518 protocol. Other relevant thermal tests were conducted by accredited, independent materials testing laboratories.
This first component of Insultex House Wrap® provides the water vapor barrier between the outer environmental harsh weather conditions and the building’s interior. It consists of a thin polymeric layer with the ability to protect the wall structure from wind, air and moisture. It is able to provide practical answers to tough environmental challenges in the construction industry worldwide. Construction material manufacturers use this fabric as reinforcement in a variety of construction-related products, such as roofing composites and radiant barriers.
The second and key component to Insultex House Wrap® is a proprietary insulation. By adhering a 1 mm layer to the above-mentioned open mesh nonwoven, the result is a house wrap with an R-Value of 6 which significantly outperforms all competitive products.
Contractors & builders who use 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. All of this is accomplished by applying Insultex House Wrap® the same way other house wraps are attached to a structure. Siding contractors can now offer their customers an additional R-Value by simply applying Insultex House Wrap® to the existing structure. Builders who have to meet more stringent R-Value requirements can simply add Insultex House Wrap® to their wall structure and immediately add an additional R-6 insulation value.
About Innovative Designs Inc.
Innovative Designs Inc. manufactures the Insultex® House Wrap, Arctic Armor® Line, under the "i.d.i.gear" label featuring INSULTEX®. INSULTEX® is the thinnest, lightest and warmest insulator in the market today. For more information, please visit http://www.idigear.com or www.insultexhousewrap.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
Joseph Riccelli
412-799-0350
joer@idigear.com
FAQ
What recent milestone did Innovative Designs Inc. achieve regarding Insultex House Wrap?
How is the demand for Insultex House Wrap affecting Innovative Designs Inc.'s business?
What are the performance claims of Insultex House Wrap?
When will Innovative Designs Inc. produce Insultex in-house?
What type of insulation performance does Insultex House Wrap provide?
