A UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13l OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended ~~April~~July 3031, 2024

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the transition period from ~~_______~~___________ to ~~________~~______________.

Commission File Number: 000-51791

INNOVATIVE DESIGNS, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware	03-0465528
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

124 Cherry Street

Pittsburgh, Pennsylvania 15223

(Address of Principal Executive Offices, Zip Code)

(412) 799-0350

(Issuer’s Phone Number Including Area Code)

N/A

(Former Name or Former Address, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities and Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES ☐ No ☒

YES ☐ No ☒

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of regulation S-T during the preceding 12 months (or such shorter period that the registrant was required to submit and post such files). Yes ☒ NO ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definitions of “large accelerated filer”, “accelerated filer” and “smaller reporting Company” in Rule 12b-2 of the Exchange Act.

(Check One)

Large Accelerated Filer ☐ Accelerated Filer ☐ Non-accelerated Filer ☐ Smaller reporting company ☒ (Do not check if a smaller reporting company)

☐

(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES ☐ NO ☒

As of ~~September~~December 3022, 2024, there were 37,924,003 shares of the Registrant’s common stock, par value $.0001 per share, outstanding. Transitional Small Business Disclosure Format: YES ☐ NO ☒

~~Transitional Small Business Disclosure Format: YES ☐ NO ☒~~1

Innovative Designs, Inc.

Index

Form 10-Q for the Quarter Ended ~~April~~July 3031, 2024

	Part I -- Financial Information	Page No.
	Page No.
Item 1.	Condensed Financial Statements (Unaudited)
Part I -- Financial Information	3
	Condensed Balance Sheets as of April 30, 2024 (Unaudited) And October 31, 2023	2
Item 1. Condensed Financial Statements (Unaudited)	3
	Condensed Statements of Operations for the Six-Month Periods Ended April 30, 2024 and 2023 (Unaudited)	3
Condensed Balance Sheets as of April 30, 2024 (Unaudited) And October 31, 2023	3
	Condensed Statements of Changes in Stockholders’ Equity as of April 30, 2024 (Unaudited) and October 31, 2023	4
Condensed Statements of Operations for the Six-Month Periods Ended April 30, 2024 and 2023 (Unaudited)	4
	Condensed Statements of Cash Flows for the Six-Month Periods Ended April 30, 2024 and 2023 (Unaudited)	5
Condensed Statements of Changes in Stockholders’ Equity as of April 30, 2024 (Unaudited) and October 31, 2023	5
	Notes to the Condensed Financial Statements	6
Condensed Statements of Cash Flows for the Six-Month Periods Ended April 30, 2024 and 2023 (Unaudited)	6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	12
Notes to the Condensed Financial Statements	7
	Part II -- Other Information	15
Item 2. Management’s Discussion and Analy sis of Financial Condition and Results of Operations	12
Items 1, 2, 3, 4, 4T and 5.		15 - 16
Part II -- Other Information	15
Item 6.	Exhibits	17
Items 1, 2, 3, 4, 4T and 5.	15-16
Item 6. Exhibits	16

~~INNOVATIVE DESIGNS, INC~~2

~~CONDENSED~~PART ~~BALANCE~~I. ~~SHEET~~FINANCIAL INFORMATION

ASITEM OF1. ~~APRIL~~FINANCIAL ~~30,~~STATEMENTS ~~2024 AND OCTOBER 31, 2023~~(UNAUDITED)

ASSETS	April 30, 2024			October 31, 2023
Current Assets
Cash and Cash Equivalents	$	241,712		$	238,677
Accounts Receivable, Net	$	123,170		$	31,050
Inventory, Net	$	523,443		$	549,276
Other Current Receivables	$	16,541		$	8,200
Total Current Assets	$	904,866		$	827,203
Long-Term Assets
Property, Plant, and Equipment, Net	$	21,150		$	23,479
Deposits on Equipment	$	652,944		$	652,944
Total Long-Term Assets	$	674,094		$	676,423
Total Assets	$	1,578,960		$	1,503,626
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Liabilities
Current Liabilities
Credit Cards	$	72,317		$	71,659
Accounts Payable	$	60,646		$	144,967
Other Current Liabilities	$	98,847		$	121,938
Total Current Liabilities	$	231,810		$	338,564
Long-Term Liabilities
Notes Payable	$	42,362		$	56,429
Total Long-Term Liabilities	$	42,362		$	56,429
Total Liabilities	$	274,172		$	394,993
Stockholders Equity
Common Stock; $0.0001 par value; 100,000,000 shares authorized; 37,839,003 and 36,532,560 shares issued and outstanding as of April 30, 2024 and October 31, 2023 respectively	$	3,784		$	3,653
Paid-In Capital	$	11,979,124		$	11,741,935
Retained Earnings (Deficit)	$	(10,636,955	)	$	(10,335,578	)
Net Income (Loss)	$	(41,165	)	$	(301,377	)
Total Stockholders' Equity (Deficit)	$	1,304,788		$	1,108,633
Total Liabilities and Stockholders Equity (Deficit)	$	1,578,960		$	1,503,626

INNOVATIVE DESIGNS, INC.

~~-2-~~Condensed Balance Sheets

~~INNOVATIVE~~As ~~DESIGNS~~of July 31, ~~INC.~~2024 (Unaudited) and October 31, 2023 (Audited)

CONDENSED STATEMENT OF OPERATIONS


	July 31, 2024			October 31, 2023
Assets
Current assets
Cash and Cash Equivalents	$	284,342		$	238,677
Accounts Receivable, Net		57,272			31,050
Inventory, Net		471,078			549,276
Other current assets		34,000			8,200
Total current assets		846,692			827,203
Long-Term Assets
Property, Plant, and Equipment, Net		29,384			23,479
Deposits on Equipment		652,944			652,944
Total Long-Term Assets		682,328			676,423
Total assets	$	1,529,020		$	1,503,626

Liabilities and Stockholders’ Deficit
Current liabilities
Credit Cards	$	67,634		$	71,659
Accounts Payable		79,694			144,967
Other current Liabilities		98,748			121,938
Total current liabilities		246,076			338,564
Long-Term Liabilities
Notes Payable		37,239			56,429
Total Long-Term Liabilities		37,239			56,429
Total liabilities		283,315			394,993

Stockholders’ deficit
Common stock, $0.0001 par value; 100,000,000 shares authorized; 37,839,560 and 36,532,560 shares issued and outstanding as of July 31, 2024 and October 31, 2023, respectively		3,784			3,653
Additional paid-in capital		11,979,124			11,741,935
Accumulated deficit		(10,737,203	)		(10,335,578	)
Total stockholders’ deficit		1,245,705			1,108,633
Total liabilities and stockholders’ deficit	$	1,529,020		$	1,503,626

~~PERIOD~~See ~~ENDING~~accompanying ~~APRIL~~notes ~~30,~~to ~~2024~~financial statements.

	Six-Month Ended April 30,						Three-Month Ended April 30,
	2024			2023			2024			2023
Revenues	$	366,217		$	98,896		$	300,331		$	27,249
Cost of Goods Sold	$	186,384		$	30,359		$	151,560		$	13,349
Gross Profit	$	179,833		$	68,537		$	148,771		$	13,900
Operating Expenses	$	206,722		$	234,974		$	121,040		$	121,091
Income (Loss) from operations	$	(26,889	)	$	(166,437	)	$	27,731		$	(107,191	)
Other Income (Expenses)
Gain (Loss) on Assets	$	0		$	7,519		$	—		$	—
Depreciation Expenses	$	(2,329	)	$	(1,537	)	$	(1,165	)	$	(768	)
Interest Expenses	$	(11,946	)	$	(11,231	)	$	(4,338	)	$	(4,632	)
Total other income (expenses)	$	(14,275	)	$	(5,249	)	$	(5,503	)	$	(5,400	)
Net Income (Loss)	$	(41,164	)	$	(171,686	)	$	22,228		$	(112,591	)
Earnings Per Share - Basic	$	(0.001	)	$	(0.005	)	$	0.001		$	(0.003	)
Weighted average common shares outstanding		37,834,682			35,177,560			37,459,401			35,177,560
Earnings Per Share - diluted	$	(0.001	)	$	(0.005	)	$	0.001		$	(0.003	)
Weighted average common shares outstanding		37,834,682			35,908,060			37,461,096			35,908,060

~~-3-~~INNOVATIVE DESIGNS, INC.

~~Innovative~~Condensed ~~Design,~~Statements of ~~Inc~~Operations

~~Statements~~For ofthe ~~Change~~Three inand ~~Stockholder’s~~Nine ~~Equity~~Months Ended July 31, 2024 and 2023

~~Six-Month Ending April 30, 2024~~ (Unaudited)

	Common Shares						Additional Paid-In			Accumulated			Total Stockholders
	For the Three months ended July 31,						For the Nine months ended July 31,
	Shares			Amount			Capital			Deficit			Equity (Deficit)
	2024
Balance - October 31, 2022		34,650,560		$	3,467		$	11,335,184		$	(10,335,579		$	1,003,072
REVENUES, net	$	278,279		$	124,650		$	644,497		$	223,546
Sale of Stock		500,000		$	50		$	109,950			—		$	110,000
OPERATING EXPENSES
Shares Issued for Services		27,000		$	3		$	5,937		$	—		$	5,940
Cost of sales		189,978			76,480			376,362			106,839
Net Income (Loss)		—			—			—		$	(59,094	)	$	(59,094	)
Selling, general and administrative expenses		142,224			124,944			348,946			359,917
Balance at January 31, 2023		35,177,560		$	3,520		$	11,451,071		$	(10,394,673	)	$	1,059,918
Total operating expenses		332,202			201,424			725,308			466,756
Net Income (Loss)		—			—			—		$	(112,591	)	$	(112,591	)
Income (loss) from operations		(53,922	)		(76,774	)		(80,811	)		(243,210	)
Balance at April 30, 2023		35,177,560		$	3,520		$	11,451,071		$	(10,507,264	)	$	947,327
OTHER INCOME (EXPENSES)
Balance - October 31, 2023		36,532,560		$	3,653		$	11,741,935		$	(10,636,955	)	$	1,108,633
Miscellaneous income (expense)					—						7,519
Sale of stock		580,888		$	58		$	105,862		$	—		$	105,920
Interest expense		(3,837	)		(6,421	)		(15,783	)		(17,652	)
Stock issued for services		670,000			67			121,333		$	—		$	121,400
Depreciation		(1,324	)		(769	)		(3,653	)		(2,306	)
Net Income (Loss)		—		$	—		$	11,979,124		$	(63,393	)	$	(63,393	)
Total other income (expense)		(5,161	)		(7,190	)		(19,436	)		(12,439	)
Balance – January 31,2024		37,783,448		$	3,778		$	11,969,130		$	(10,700,348	)	$	1,272,560
Net income (loss)	$	(59,083	)	$	(83,964	)	$	(100,247	)	$	(255,649	)
Sale of stock		55,555		$	6		$	9,994			—		$	10,000
Loss per share of common stock - Basic and diluted	$	(0.002	)	$	(0.002	)	$	(0.003	)	$	(0.007	)
Net Income (Loss)		—			—			—		$	22,228		$	22,228
Weighted average shares of common stock - Basic and diluted		37,839,003			36,633,430			36,972,827			36,153,406
Balance – April 30, 2024		37,839,003		$	3,784		$	11,979,124		$	(10,678,120	)	$	1,304,788

~~-4-~~See accompanying notes to financial statements.

~~INNOVATIVE DESIGNS, INC.~~4

~~STATEMENT~~INNOVATIVE OFDESIGNS, ~~CASH FLOWS~~INC.

ASCondensed OFStatements ~~APRIL~~of ~~30,~~Changes in ~~2024~~Stockholders’ ~~(UNAUDITED)~~Equity

	Six-Month Ended April 30
	2024			2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss	$	(41,165	)	$	(171,686	)
Adjustments to reconcile net loss to net cash used in operating activities
Increase/(Decrease) in Depreciation / Amortization	$	2,329		$	1,537
Changes In Operating Assets and Liabilities
Increase in Credit Cards Liabilities	$	658		$	—
Increase/(Decrease) Accounts Payables and Other Current Liabilities	$	(107,412	)	$	68,125
(Increase) / Decrease in Interest and Other Receivables	$	(92,120	)	$	9,294
(Increase) / Decrease in Inventory	$	25,834		$	(133,775	)
Decrease in Prepaid Expenses	$	(8,342	)	$	—
Net Cash Used In Operating Activities	$	(220,218	)	$	(226,505	)
CASH FLOWS FROM INVESTING ACTIVITIES
Increase / (Decrease) in Deposits on Machinery & Equipment	$	—		$	19,834
Net Cash Used In Investing Activities	$	—		$	19,834
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of Stock	$	237,320		$	115,940
Increase / (Decrease) in Notes Payable	$	(14,067	)	$	(107,555	)
Net Cash Used In Financing Activities	$	223,253		$	8,385
Net Increase (Decrease) In Cash	$	3,035		$	(198,286	)
Cash at the Beginning of the Period	$	238,677		$	263,293
Cash at the End of the Period	$	241,712		$	65,007

Three Months and Nine Months Ended July 31, 2024 and 2023

~~-5-~~(Unaudited)

Innovative Designs Inc


	Common Stock				Additional Paid in		Accumulated			Total Stockholders’
	Shares		Amount		Capital		Deficit			Deficit
Balance October 31, 2022		34,650,560	$	3,467	$	11,335,184	$	(10,335,579	)	$	1,003,072

Sale of stock		50,000		50		109,950		—			110,000
Shares issued for services		27,000		3		5,937		—			5,940
Net income (loss)		—		—		—		(59,094	)		(44,730	)
Balance January 31, 2023		34,727,560		3,520		11,451,071		(10,394,673	)		1,059,918
Net income (loss)		—		—		—		(112,591	)		(112,591	)

Balance April 30, 2023		34,727,560		3,520		11,451,071		(10,507,264	)		947,327

Sale of stock		695,000		70		140,930		—			141,000
Exercise of warrants		40,000		4		9,996		—			10,000
Shares issued for services		180,000		18		35,982		—			36,000
Net income (loss)		—		—		—		(83,964	)		(83,964	)
Balance July, 2023		35,642,560		3,612		11,637,979		(10,591,228	)		1,050,363

Balance October 31, 2023		36,532,560	$	3,653	$	11,741,935	$	(10,636,955	)	$	1,08,633

Sale of stock		580,888		58		105,862		—			105,920
Stock issued for services		670,000		67		121,333		—			121,400
Net income (loss)		—		—		—		(63,393	)		(63,393	)

Balance January 31, 2024		37,783,448		3,778		11,969,130		(10,700,348	)		1,272,560

Sale of stock		55,555		6		9,994		—			10,000
Net income (loss)		—		—		—		22,228			22,228

Balance April 30, 2024		37,839,003		3,784		11,979,124		(10,678,120	)		1,304,788

Net income (loss)		—		—		—		(59,082	)		(59,082	)

Balance July 31, 2024		37,839,003	$	3,784	$	11,979,124	$	(10,737,202	)	$	1,245,706

~~Notes~~See accompanying notes to ~~Financial~~financial ~~Statements~~statements.

~~1. BASIS OF PRESENTATION~~5

InINNOVATIVE ~~the opinion of management~~DESIGNS, ~~the accompanying unaudited financial statements contain all adjustments necessary to present fairly Innovative Designs, Inc~~INC.~~’s (the “Company”) financial position as of April 30, 2024, the changes therein for the six-month periods that ended and the results of operations for the six-month periods ended April 30, 2024.~~

~~The~~Statements ~~condensed financial statements included in the Form 10-Q (the “Form”) are presented in accordance with the requirements~~ of ~~the~~Cash Form and do not include all of the disclosures required by generally accepted accounting principles in the United States of America. For additional information, reference is made to the Company’s annual report on Form 10-K for the fiscal year ending October 31, 2023. The results of operations for the six-month period ending April 30, 2024 are not necessarily indicative of operating results for the full year.Flows

~~The Company’s~~For ~~unaudited consolidated financial statements have been prepared in accordance with GAAP and pursuant to~~ the ~~rules~~Nine ~~and regulations~~Months ofEnded ~~the~~July ~~SEC. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted from this report~~31, as2024 ~~is permitted by such rules~~ and ~~regulations. Accordingly, these consolidated~~ ~~financial statements should be read in conjunction with the audited financial statements as of and for the year ended October 31,~~ 2023, and the notes thereto included in the Company’s Annual Report on Form 10-K for the year ended October 31, 2023, filed with the SEC on ???? the “2023 Annual Report”). The results for any interim period are not necessarily indicative of results for any future period.

The unaudited consolidated financial statements have been prepared on the same basis as the audited financial statements. In the opinion of the Company’s management, the accompanying unaudited consolidated financial statements contain all adjustments that are necessary to present fairly the Company’s financial position and results of operations for the interim periods presented. The results for the three and six months ended April 30, 2024, are not necessarily indicative of the results for the year ending October 31, 2024 , or for any future period.(Unaudited)

As of April 30, 2024, there have been no material changes in the Company’s significant accounting policies from those that were disclosed in the 2023 Annual Report.


	2024			2023
Cash flows from operating activities
Net income (loss)	$	(100,247	)	$	(255,649	)
Stock issuance for services		121,400			41,940
Depreciation		3,653			2,306
Gain on sale of assets					(7,519	)
Adjustments to reconcile net income to net cash provided by operating activities:
Accounts receivable		(26,222	)		11,121
Inventory		78,198			(92,669	)
Deposits in inventory		(28,500	)		80,000
Prepaid and other receivables		2,700			—
Credit card payable		(4,025	)		—
Accounts payable and accrued expenses		5,391			113,424
Due to shareholders		(93,855	)		7,728
Net cash provided by (used in) operating activities		(41,507	)		(99,318	)

Cash flows from investing activities
Purchase of assets		(9,558	)		(20,593	)
Deposits on equipment		—			(112,574	)
Proceeds from sale of equipment		—			7,519
Net cash provided by (used in) financing activities		(9,558	)		(125,648	)

Cash flows from financing activities
Proceeds from sale of stock		115,920			261,000
Payment on shareholder advances		—			(105,630	)
Payments on notes payable		(19,190	)		(14,880	)
Net cash provided by (used in) investing activities		96,730			140,490

Net change in cash and cash equivalents		45,665			(84,476	)
Cash and cash equivalents, beginning of period		238,677			263,293
Cash and cash equivalents, end of period	$	284,342		$	178,817

Supplemental disclosure of cash flow information
Cash paid for interest	$	15,783		$	9,924
Non-cash financing activities	$	121,400		$	41,940

2.See ~~GOING~~accompanying ~~CONCERN~~notes to financial statements.

These condensed financial statements have been prepared on a going concern basis, which implies that the Company will continue to realize its assets and discharge its liabilities in the normal course of business. The Company had a net loss of ($41,165) and a negative cash flow of ($143,218) from operation activities for the six-month period ending April 30, 2024. In addition, the Company has an accumulated deficit of ($10,678,120). Management’s plans include cash receipts through sales, sales of Company stock, and borrowings from private parties. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern for a period of one year from the issuance of these condensed financial statements. These condensed financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.6

3.INNOVATIVE ~~ACCOUNTS~~DESIGNS, ~~RECEIVABLE~~INC.

~~Accounts~~Notes ~~receivables are reported at their net realizable value. The Company evaluates its receivables on a quarterly basis~~ to ~~assess~~ the ~~validity~~Condensed ofFinancial remaining receivables. Management has determined that there is significant doubt regarding the receivable balance over 90 days. There were $332 in receivables over 90 days as of April 30, 2024, and no balances over 90 days as of October 31, 2024.Statements

4.For ~~OPENING~~the ~~AND~~Period ~~CLOSING~~Ended ~~BALANCE~~September OF30, ~~RECEIVABLES~~2024

~~The~~NOTE ~~opening~~1 ~~balance of accounts receivable was $31,050. The ending balance of accounts receivable for the six~~-~~month~~ ~~period~~BASIS ~~ending~~OF ~~April 30, 2024, was $124,450. There was not an allowance for doubtful accounts at the beginning or end of the period.~~PRESENTATION

In the opinion of management, the accompanying unaudited financial statements contain all adjustments necessary to present fairly Innovative Designs, Inc.’s (the “Company”) financial position as of July 31, 2024, the changes therein for the nine-6month periods that ended and the results of operations for the nine-month periods ended July 31, 2024.

5The condensed financial statements included in the Form 10-Q (the “Form”) are presented in accordance with the requirements of the Form and do not include all of the disclosures required by generally accepted accounting principles in the United States of America. ~~INVENTORY~~For additional information, reference is made to the Company’s annual report on Form 10-K for the fiscal year ending October 31, 2023. The results of operations for the nine-month period ending July 31, 2024 are not necessarily indicative of operating results for the full year.

~~Inventory~~The ~~consists~~Company’s ~~principally~~unaudited ofcondensed financial ~~purchased~~statements ~~apparel~~have ~~inventory and~~been ~~house~~prepared ~~wrap~~in ~~which~~accordance iswith ~~manufactured~~GAAP byand ~~the Company. Inventory~~pursuant isto ~~stated~~the atrules ~~the~~and ~~lower~~regulations of ~~cost~~the orSEC. ~~net~~Certain ~~realizable~~information and ~~value~~footnote ondisclosures anormally ~~first-~~included in~~, first-out~~ ~~basis.~~financial ~~The~~statements ~~Company~~prepared ~~has~~in ~~decided~~accordance towith ~~discontinue~~GAAP ~~the~~have ~~manufacturing~~been ofcondensed ~~its~~or ~~Artic Armor~~omitted from this report, ~~hunting~~ ~~and~~as ~~swimming~~is ~~line~~permitted ofby ~~apparel. The~~such ~~Company~~rules ~~has~~and ~~booked~~regulations. aAccordingly, ~~reserve~~these ~~against~~consolidated ~~apparel~~financial ~~inventory~~statements asshould ofbe ~~April~~read ~~30,~~in ~~2024~~conjunction with ~~and~~the ~~October~~audited ~~31,~~financial ~~2023~~statements as of ~~$65,600.~~and ~~Management~~for ~~has~~the ~~determined that~~year noended ~~allowance~~October is31, ~~currently~~2023, ~~necessary~~and on the ~~house~~notes ~~wrap inventory. Management~~thereto ~~will~~included ~~continue~~in tothe ~~evaluate~~Company’s Annual ~~its~~Report ~~obsolete~~on ~~inventory reserve~~Form 10-K ~~throughout~~for the year ~~and~~ended October ~~make~~31, ~~adjustments~~2023, asfiled ~~needed.~~with Asthe ofSEC ~~April~~on February 3023, 2024, (the ~~total~~“2023 Annual ~~value~~Report”). ofThe ~~the~~results ~~inventory~~for onany ~~hand~~interim ~~prior~~period toare ~~the allowance~~not ~~for~~necessarily ~~obsolete~~indicative ~~inventory~~of isresults ~~$589,043~~for any future period.

6The unaudited condensed financial statements have been prepared on the same basis as the audited financial statements. ~~WARRANTIES~~In the opinion of the Company’s management, the accompanying unaudited consolidated financial statements contain all adjustments that are necessary to present fairly the Company’s financial position and results of operations for the interim periods presented. The results for the three and nine months ended July 31, 2024, are not necessarily indicative of the results for the year ending October 31, 2024 , or for any future period.

~~The~~As ~~Company provides a ten-year limited warranty covering defects in workmanship. These warranties are included in the contract and do not provide customers with a service in addition to assurance~~ of ~~compliance~~ ~~with~~July ~~agreed-upon~~31 ~~specifications.~~2024, ~~The~~there ~~Company~~have ~~does not consider these assurance-type warranties to be separate performance obligations.~~been ~~Management has determined that~~ no ~~warranty~~material ~~reserve~~changes isin ~~currently necessary on~~ the Company’s ~~products.~~significant ~~Management~~accounting ~~will~~policies ~~continue~~from ~~to evaluate~~those ~~the~~that ~~need~~were ~~for~~disclosed ain ~~warranty reserve throughout~~ the ~~year~~2023 ~~and~~annual ~~make adjustments as needed~~report.

7.NOTE ~~NOTES~~2 ~~PAYABLE~~– GOING CONCERN

~~During~~These ~~December~~condensed ~~2023~~financial statements have been prepared on a going concern basis, which implies that the Company ~~entered~~will ~~into~~continue ato ~~convertible promissory~~realize ~~note~~its assets and discharge its liabilities in the ~~amount~~normal course of business. The Company had a net loss of ($5029,~~000 due~~296) and ~~payable~~a innegative ~~December~~cash flow of ($41,507) from operation activities for the nine-month period ending July 31, 2024. atIn anaddition, ~~annual~~the ~~interest~~Company ~~rate~~has an accumulated deficit of 6 ($10,707,203).~~0%.~~ ~~The~~Management’s ~~note~~plans isinclude ~~secured~~cash byreceipts ~~$100~~through sales,~~000~~ sales of ~~the~~Company stock, and borrowings from private parties. These factors raise substantial doubt regarding the Company’s ~~inventory. Any~~ ~~principal~~ability ~~and~~to ~~unpaid~~continue ~~accrued~~as ~~interest~~a ~~outstanding~~going asconcern for a period of one year from the ~~due~~issuance ~~date~~of these condensed financial statements. ~~may~~These becondensed ~~converted~~financial statements do not include any adjustments to ~~common~~the ~~stock~~recoverability atand aclassification ~~value~~of recorded asset amounts and classification of ~~$0.20 per~~liabilities ~~share~~that might be necessary should the Company be unable to continue as a going concern.

~~During~~NOTE ~~2005,~~3 ~~the~~– ~~Company~~ACCOUNTS entered into an agreement with the U.S. Small Business Association. The note is payable in monthly installments of $1,820 with the balance due and payable in November 2026, at an interest rate of 2.60%.RECEIVABLE

Accounts receivables are reported at their net realizable value. The Company evaluates its receivables on a quarterly basis to assess the validity of remaining receivables. Management has determined that there is significant doubt regarding the receivable balance over 90 days. There were $150 in receivables over 90 days as of July 31, 2024, and no balances over 90 days as of October 31, 2024. As of ~~April~~July 3031, 2024, ~~all~~the ~~notes~~balance ~~payables~~of ~~are~~accounts upreceivable was to$57,272, ~~date~~net of allowances.

~~8. LOANS~~7

~~Loans~~NOTE to4 ~~the~~– ~~Company, including accrued interest, totaled $47,244 and $147,450 as of January 31, 2024 and 2023, respectively. The loans bear interest between 10% and 12%.~~INVENTORY

Inventory consists principally of purchased apparel inventory and house wrap which is manufactured by the Company. Inventory is stated at the lower of cost or net realizable value on a first-7in, first-out basis. The Company has decided to discontinue the manufacturing of its Artic Armor, hunting and swimming line of apparel. The Company has booked a reserve against apparel inventory as of July 31, 2024 and October 31, 2023 of $65,600. Management has determined that no allowance is currently necessary on the house wrap inventory.

9Management will continue to evaluate its obsolete inventory reserve throughout the year and make adjustments as needed. ~~REVENUES~~As of July 31, 2024, the total value of the inventory on hand prior to the allowance for obsolete inventory was $536,678, and the net value was $471,078.

~~Revenues~~NOTE ~~are~~5 ~~measured~~– based on the amount of consideration specified in a contract with a customer. The Company recognizes revenue when and as performance obligations (i.e., obligations to transfer goods and/or services) are satisfied, which generally occurs with the transfer of control of the goods or services to the customer.WARRANTIES

~~To determine~~The ~~proper~~Company ~~revenue~~provides ~~recognition,~~a ~~the~~ten-year ~~Company evaluates~~limited ~~whether~~warranty ~~two~~covering ordefects ~~more~~in ~~contracts~~workmanship. ~~should~~These bewarranties ~~combined~~are ~~and~~included ~~accounted~~in ~~for~~the ~~as a single~~ contract and ~~whether~~do anot ~~combined~~provide orcustomers ~~single~~with ~~contract~~a ~~should~~service in beaddition ~~accounted~~to ~~for~~assurance asof ~~more~~compliance ~~than~~with ~~one~~agreed-upon ~~performance obligation~~specifications. ~~This~~The ~~evaluation~~Company ~~requires~~does ~~significant~~not ~~judgment,~~consider ~~and~~these ~~the~~assurance-type ~~decision~~warranties to ~~combine contracts~~ orbe separate ~~a combined or single contract into multiple~~ performance obligations. ~~could~~Management ~~change~~has ~~the~~determined ~~amount~~that ofno ~~revenue~~warranty ~~and~~reserve ~~profit~~is ~~recorded in~~currently anecessary ~~given~~on ~~period~~the Company’s products. ~~Contracts~~Management ~~are~~will ~~considered~~continue to ~~contain~~evaluate ~~a single performance obligation if~~ the ~~promise~~need tofor ~~transfer~~a ~~individual~~warranty ~~goods~~reserve ~~or services~~throughout isthe ~~not~~year ~~separately~~and ~~identifiable~~make ~~from~~adjustments ~~other~~as ~~promises in the contracts~~needed.

~~For~~NOTE ~~contracts~~6 ~~with~~– ~~multiple~~NOTES performance obligations, the Company allocates the transaction price to each performance obligation using the best estimate of the standalone selling price of each distinct good or service in the contract.PAYABLE

10During December 2023, the Company entered into a convertible promissory note in the amount of $50,000 due and payable in December 2024 at an annual interest rate of 6.0%. ~~EARNINGS~~The ~~PER~~note ~~SHARE~~is secured by $100,000 of the Company’s inventory. Any principal and unpaid accrued interest outstanding as of the due date may be converted to common stock at a value of $0.20 per share.

~~The~~During ~~Company~~2005, ~~calculates~~the ~~net~~Company ~~loss~~entered ~~per~~into ~~share~~an inagreement ~~accordance~~ with ~~Financial~~the ~~Accounting~~U.S. ~~Standards~~Small ~~Board (“FASB”) Accounting~~Business ~~Standard~~Association ~~Codification~~ (~~“ASC”~~SBA) ~~Topic 260, ”Earnings per Share”~~. ~~Basic~~As ~~earnings~~of ~~(loss)~~July ~~per~~31, ~~share~~2024, ~~is calculated by dividing income (loss) by~~ the ~~weighted~~note ~~average~~payable ~~number~~to ofSBA ~~common shares~~was ~~outstanding for the period~~$47,903. ~~During~~The ~~the~~note ~~periods~~is ~~presented,~~payable ~~the~~in ~~Company~~monthly ~~only~~installments of ~~has common stock outstanding. In 2021~~$1,820 with the ~~Company~~balance ~~issued a~~due ~~convertible~~and ~~debt~~payable ~~instrument.~~in InNovember ~~addition~~2026, ~~the~~at ~~Company~~an ~~also~~interest ~~has~~rate ~~stock warrants~~ of 2~~,429,443 and 2,373,888 as of April 30, 2024, and October 31, 2023, respectively~~. ~~The Company has calculated diluted earnings per share utilizing the outstanding stock warrants and convertible debt~~60%.

~~11.~~As ~~INCOME~~of ~~TAXES~~April 30, 2024, all notes payables are up to date.

~~The~~NOTE ~~Company~~7 ~~accounts~~– ~~for income taxes in accordance with FASB ASC Topic 740 ”Income Taxes”, which requires an asset and liability approach for financial reporting purposes.~~REVENUES

~~Deferred~~Revenues ~~income taxes~~ are ~~provided~~measured ~~for~~based ~~differences~~on ~~between~~ the ~~tax~~amount ~~bases~~ of ~~assets~~consideration ~~and~~specified ~~liabilities~~in ~~and~~a ~~the~~contract ~~financial~~with ~~reporting~~a ~~amounts~~customer. atThe ~~the~~Company ~~end~~recognizes ofrevenue ~~the~~when ~~period,~~ and ~~for~~as ~~net~~performance ~~operating~~obligations ~~loss and tax credit~~(i.e., ~~carryforwards~~obligations ~~available~~ to ~~offset~~transfer ~~future~~goods ~~taxable income. Changes in enacted tax rates~~ and/or ~~laws~~services) ~~result~~are insatisfied, ~~adjustments~~which togenerally ~~recorded~~occurs ~~deferred tax~~with ~~assets and liabilities in~~ the ~~periods~~transfer inof ~~which~~control of the ~~tax~~goods ~~laws are enacted~~ or ~~tax rates are changed. The Company will continue~~ services to ~~evaluate its income tax obligation throughout~~ the ~~year and will record a tax provision when it is necessary~~customer.

~~-8-~~To determine proper revenue recognition, the Company evaluates whether two or more contracts should be combined and accounted for as a single contract and whether a combined or single contract should be accounted for as more than one performance obligation. This evaluation requires significant judgment, and the decision to combine contracts or separate a combined or single contract into multiple performance obligations could change the amount of revenue and profit recorded in a given period. Contracts are considered to contain a single performance obligation if the promise to transfer individual goods or services is not separately identifiable from other promises in the contracts.

~~12.~~For ~~SHIPPING~~contracts ~~AND~~with ~~HANDLING~~multiple ~~COSTS~~performance obligations, the Company allocates the transaction price to each performance obligation using the best estimate of the standalone selling price of each distinct good or service in the contract.

The Company pays shipping and handling costs on behalf of customers for purchased apparel merchandise. These costs are billed back to the customer through the billing invoice. The shipping and handling costs associated with merchandise ordered by the Company are included as part of inventory as these costs are allocated across the merchandise received. With house wrap orders, the customer pays the shipping cost. The shipping and handling costs associated with customer orders was approximately $19,4618 ~~and $19,444 for the three-month periods ended April 30, 2024 and April 30, 2023, respectively.~~

~~13.~~NOTE ~~COMMON~~8 ~~STOCK~~– EARNINGS PER SHARE

~~During~~The ~~the~~Company ~~six-month~~calculates ~~period~~net ~~ending~~loss ~~April~~per share ~~30,~~in ~~2024,~~accordance ~~the~~with ~~Company sold~~Financial Accounting Standards Board ~~580~~(“FASB”) Accounting Standard Codification (“ASC”) Topic 260,~~888~~ ~~shares~~”Earnings per ofShare”. ~~common~~Basic ~~stock~~earnings to(loss) ~~eight~~per ~~investors~~share ~~for~~is ~~total~~calculated ~~proceeds~~by ofdividing ~~$105,920, and 670,000 shares~~income ~~were issued~~(loss) toby ~~two~~the ~~individuals~~weighted average number of common shares outstanding for ~~services~~the period. ~~The~~During ~~stock~~the ~~was~~periods ~~issued~~presented, ~~between~~the ~~$0.18 and~~Company ~~$0.20 per~~only ~~share~~has common stock outstanding. ~~Additionally~~In 2021, the Company ~~sold~~issued a 55convertible debt instrument. In addition,~~555~~ ~~shares~~the ofCompany ~~common~~also has stock warrants of 2,429,443 and 2,373,888 as toof ~~one~~July ~~investor~~31, ~~for~~2024, ~~total~~and ~~proceeds~~October of31, ~~$10~~2023,~~000~~ respectively. The ~~stock~~Company ~~was~~has ~~issued~~calculated atdiluted ~~$0.18~~earnings per share. utilizing the outstanding stock warrants and convertible debt

~~14.~~NOTE ~~DEPOSITS~~9 ON– ~~EQUIPMENT~~INCOME TAXES

~~On July 12, 2015, the Company reached an agreement with Ketut Jaya to purchase the machinery and equipment utilized to produce the INSULTEX material.~~ The purchase price is $700,000 and to be made in four installments. The first installment of $300,000 is to be made at the execution of the agreement. The second installment of $200,000 is to be made when the machinery and equipment is ready to be shipped to the United States. The third installment of $100,000 is to be made once the machinery and equipment is producing INSULTEX, and the fourth and final installment of $100,000 is to be made after the first commercial production run of INSULTEX is completed. As of October 31, 2018, the Company ~~has~~accounts ~~made~~for ~~payments~~income oftaxes ~~$500,000~~ in accordance with ~~the agreement and made a $100,000 pre-payment as the machine is not yet producing INSULTEX. Additionally,~~ ~~the~~FASB ~~Company~~ASC ~~has~~Topic ~~incurred $17,000~~740 of”Income ~~additional expenses related to shipping~~Taxes”, ~~site~~which ~~improvements~~requires ~~and~~an ~~installation~~asset ~~of the equipment. During 2019, the Company determined the shipping costs of $17,000 were impaired~~ and ~~these~~liability ~~costs~~approach ~~were~~for ~~written~~financial ~~off~~reporting ~~the balance due~~purposes. ~~During the fiscal year ended October 31, 2023, the Company made additional prepayments totaling $16,000 on the equipment.~~

~~During~~Deferred ~~the~~income ~~fiscal~~taxes ~~year~~are ~~ended~~provided ~~October 31,~~for ~~2022,~~differences between the ~~Company~~tax ~~made~~bases ~~deposits~~of onassets aand ~~separate~~liabilities ~~piece~~and ofthe ~~equipment~~financial reporting amounts at the end of $7the period,~~370.~~ and for net operating loss and tax ~~During~~credit ~~the~~carryforwards ~~fiscal~~available ~~year~~to ~~ended~~offset ~~October~~future ~~31,~~taxable ~~2023,~~income. ~~the~~Changes ~~Company~~in ~~made~~enacted ~~additional~~tax ~~deposits~~rates ofor ~~$29,574 on~~laws result in adjustments to recorded ~~this~~deferred ~~piece~~tax ofassets ~~equipment.~~and ~~There~~liabilities ~~have~~in ~~been~~the noperiods ~~additional~~in ~~deposits~~which ~~made~~the astax oflaws ~~April~~are ~~30,~~enacted ~~2024~~or ~~The~~tax ~~remaining~~rates ~~balance~~are ~~owed~~changed. onThe ~~said~~Company will continue ~~equipment~~to asevaluate ofits ~~April~~income ~~30,~~tax ~~2024~~obligation isthroughout ~~$77,000.~~the year and will record a tax provision when it is necessary

~~Total~~ NOTE ~~overall~~10 ~~deposits~~– onSHIPPING ~~equipment~~AND ~~as of~~HANDLING ~~April 30, 2024 and October 31, 2023 were $652,944.~~COSTS

The Company pays shipping and handling costs on behalf of customers for purchased apparel merchandise. These costs are billed back to the customer through the billing invoice. The shipping and handling costs associated with merchandise ordered by the Company are included as part of inventory as these costs are allocated across the merchandise received. With house wrap orders, the customer pays the shipping cost. The shipping and handling costs associated with customer orders was approximately $34,332 and $27,070 for the nine-9-month ended July 31, 2024 and 2023, respectively.

~~15.~~NOTE ~~LEASE~~11 – COMMON STOCK

~~FASB ASC Topic 842, ”Leases”, establishes~~During athe ~~right~~nine-month ofperiod ~~use~~ending ~~(“ROU”)~~July ~~model~~31, ~~that~~2024, ~~requires a lessee to recognize a ROU asset and lease liability on~~ the ~~condensed~~ ~~balance~~Company ~~sheets.~~sold 580,888 shares ~~ROU~~of ~~assets~~common ~~and~~stock ~~lease~~to ~~liabilities~~eight ~~are~~investors ~~recognized~~for attotal ~~the~~proceeds ~~commencement date based on the present value~~ of ~~lease payments~~$105,920, and 670,000 shares ~~over~~were ~~the~~issued ~~lease~~to ~~term.~~two ~~ROU~~individuals ~~assets~~for ~~are~~services. ~~reduced~~The ~~each~~stock ~~period~~was byissued ~~an amount equal to the difference~~ between ~~the lease expense~~ $0.18 and ~~the amount of interest expense on the lease~~$0.20 ~~liability, using~~per ~~the effective interest method~~share. ~~The~~Additionally, ~~Company used~~ the ~~average commercial real~~Company ~~estate~~sold ~~interest~~55,555 ~~rate~~shares of ~~5.50%~~ common stock to ~~calculate~~one ~~the~~investor ~~present~~for ~~value~~total proceeds of ~~the lease~~$10,000. The ~~Company~~stock ~~recognizes~~was ~~lease~~issued ~~expense~~at on$0.18 aper ~~straight-line basis over the leased term on the condensed statements of operations~~share.

~~The~~NOTE ~~Company~~12 ~~entered~~– ~~into~~DEPOSITS aON lease for office space at the time the Company was formed through June 2022. Effective July 2022, the Company is leasing the office space on a month to month basis. As a result, the Company has elected to apply the short-term lease exemption to its lease of the facilities and therefore has not recorded a ROU asset and related lease liability.EQUIPMENT

16On July 12, 2015, the Company reached an agreement with Ketut Jaya to purchase the machinery and equipment utilized to produce the INSULTEX material. ~~LEGAL~~The ~~PROCEEDINGS~~purchase price is $700,000 and to be made in four installments. The first installment of $300,000 is to be made at the execution of the agreement. The second installment of $200,000 is to be made when the machinery and equipment is ready to be shipped to the United States. The third installment of $100,000 is to be made once the machinery and equipment is producing INSULTEX, and the fourth and final installment of $100,000 is to be made after the first commercial production run of INSULTEX is completed. As of October 31, 2018, the Company has made payments of $500,000 in accordance with the agreement and made a $100,000 pre-payment as the machine is not yet producing INSULTEX. Additionally, the Company has incurred $17,000 of additional expenses related to shipping, site improvements and installation of the equipment. During 2019, the Company determined the shipping costs of $17,000 were impaired and these costs were written off the balance due. During the fiscal year ended October 31, 2023, the Company made additional prepayments totaling $16,000 on the equipment.

~~On November 4, 2016, the Federal~~9 Trade Commission (“FTC”) filed a complaint against the Company in the U.S. District Court Western District of Pennsylvania, Case number 16-1669. In the complaint, the FTC alleges that, among other matters, the Company did not have substantiation of claims made by the Company regarding the R value and energy efficiency of its INSULTEX house wrap products. The complaint asks to redress a rescission of revenue the Company received from the sale of the house wrap and a permanent injunction. On September 24, 2020, a judgment was entered in favor of the Company as to all claims set forth in the FTC complaint. It was further ordered that as there were no remaining claims in the action the case shall be marked as closed.

OnDuring ~~November~~the ~~23,~~fiscal ~~2020,~~year ~~the~~ended ~~Company~~October ~~was~~31, ~~informed~~2022, ~~that~~ the ~~FTC had~~Company ~~filed~~made adeposits ~~notice~~on ofa ~~appeal~~separate inpiece ~~regard~~of toequipment ~~the~~of ~~case~~$7,370. ~~The~~During ~~appeal is from~~ the ~~District~~fiscal ~~Court’s~~year ~~September~~ended 24October 31, ~~2020~~2023, ~~Order granting~~ the Company~~’s Motion~~ ~~for~~made ~~Judgment~~additional ondeposits of ~~Partial Findings Pursuant to Fed. R.~~$29,574 ~~Civ. P. 52(c)~~on ~~and~~this ~~subsequent~~piece ~~Judgment in favor~~ of ~~the~~equipment. ~~Company and~~There ~~from~~have ~~the District Court’s February 14, 2020, striking~~been ~~Dr.~~no ~~David Yarbrough’s expert~~additional ~~testimony~~deposits made on ~~behalf~~as of ~~the~~April ~~FTC.~~30, 2024 The ~~FTC~~remaining ~~filed~~balance owed ~~its~~on ~~appeal~~said ~~and~~equipment onas ~~March~~of ~~24,~~April ~~2021~~30, ~~the~~2024 ~~Company~~is ~~filed its answer~~$77,000.

OnTotal ~~July~~overall ~~22,~~deposits ~~2021,~~on ~~the~~equipment ~~Registrant~~as ~~was informed that the U.S. Court~~ of ~~Appeals~~July ~~for the Third District affirmed the District Court’s ruling in favor of the Registrant. The ruling was in connection with the FTC complaint filed against the Registrant in November 2016~~31, ~~alleging, among other matters, that the Registrant did not have~~2024 ~~substantiation for claims made by the Registrant regarding the R-value~~ and ~~energy~~October ~~efficiency~~31, of2023 ~~its~~were ~~INSULTEX house wrap products~~$652,944.

~~-10-~~NOTE 13 – LEASE

~~In November 2021~~FASB ASC Topic 842,”Leases”, establishes ina ~~connection~~right ~~with~~of ~~the~~use ~~FTC~~(“ROU”) ~~litigation,~~model ~~the Company~~that ~~filed~~requires ana ~~application~~lessee ~~for~~to ~~attorney~~recognize ~~fees,~~a ~~expenses~~ROU asset and ~~cost~~lease inliability on the Ucondensed balance sheets.S. ~~District~~ROU ~~Court~~assets ~~for~~and lease liabilities are recognized at the ~~Western~~commencement ~~District~~date based on the present value of ~~Pennsylvania,~~lease payments ~~Case~~over ~~No.2:16-cv-01669-NBF.~~the Onlease ~~June~~term. ~~29,~~ROU ~~2022,~~assets aare ~~settlement~~reduced ~~order~~each ~~was~~period ~~signed~~ by ~~the~~an ~~Court.~~amount ~~Pursuant~~equal to the ~~Order,~~difference between the ~~FTC~~lease ~~paid~~expense and the ~~Company~~amount ~~$260~~of interest expense on the lease liability,~~000~~ tousing ~~resolve~~the ~~all~~effective ~~such~~interest ~~claims~~method. The ~~parties~~Company ~~agreed~~used tothe ~~waive~~average ~~all~~commercial ~~rights~~real estate tointerest ~~appeal~~rate orof 5.50% ~~otherwise~~to ~~challenge~~calculate orthe ~~contest~~present value of the ~~validity~~lease. The Company recognizes lease expense on a straight-line ofbasis over the ~~Order~~leased term on the condensed statements of operations.

17The Company entered into a lease for office space at the time the Company was formed through June 2022. Effective ~~ADPOTED~~July ~~PRONOUNCEMENT~~2022, the Company is leasing the office space on a month to month basis. As a result, the Company has elected to apply the short-term lease exemption to its lease of the facilities and therefore has not recorded a ROU asset and related lease liability.

~~The~~NOTE ~~requirements~~14 of– ~~the~~LEGAL ~~following FASB statement were adopted for the Company’s condensed financial statements:~~PROCEEDINGS

InOn ~~June~~November 4, 2016, the Federal ~~FASB~~Trade ~~issued Accounting Standards~~Commission ~~Update~~ (“~~ASU~~FTC”) ~~2016-13, ”Financial~~filed ~~Instruments~~a –complaint ~~Credit~~against ~~Losses (Topic 326):~~the ~~Measurement~~Company ofin ~~Credit Losses~~the onU.S. ~~Financial~~District ~~Instruments” (“ASU~~Court ~~2016-13”).~~Western ~~ASU~~District ~~2016-13~~of ~~introduces~~Pennsylvania, aCase ~~new~~number ~~impairment~~16-1669. In ~~model~~the complaint, the ~~current expected~~FTC ~~credit~~alleges ~~loss~~that, ~~(“CECL”)~~among ~~model.~~other ~~The~~matters, ~~model~~the ~~applies~~Company todid ~~most~~not ~~assets~~have ~~that~~substantiation ~~are~~of ~~measured~~claims atmade ~~amortized~~by ~~cost~~the ~~and~~Company ~~requires those~~regarding ~~assets~~the toR bevalue ~~presented~~and atenergy ~~the~~efficiency ~~net~~of ~~amount~~its INSULTEX house ~~expected~~wrap ~~to be collected~~products. InThe ~~addition,~~complaint ~~credit~~asks ~~losses~~to onredress ~~available-for-sale~~a ~~debt~~rescission ~~securities~~of ~~are~~revenue tothe beCompany ~~recognized~~received ~~through~~from anthe ~~allowance~~sale ~~account.~~of ~~ASU~~the ~~2016-13~~house ~~also~~wrap ~~expands~~and ~~existing~~a ~~disclosure~~permanent ~~requirements~~injunction. ~~ASU~~On ~~2016-13~~September is24, ~~effective~~2020, ~~for fiscal~~a ~~years~~judgment ~~beginning~~was ~~after~~entered ~~December~~in ~~15,~~favor of ~~2022,~~the ~~and~~Company ~~interim~~as ~~periods~~to ~~therein,~~all ~~and~~claims ~~requires~~set ~~retrospective~~forth ~~application.~~in ~~The Company adopted~~ the ~~new~~FTC ~~standard~~complaint. ~~effective~~It ~~November~~was 1,further ~~2023,~~ordered ~~and~~that as there were no ~~material~~remaining ~~changes~~claims toin the ~~condensed balance sheets, condensed statements~~action ofthe ~~operations,~~case ~~condensed~~shall ~~statements~~be ofmarked ~~changes in stockholders’ equity, and condensed statements of cash flows~~ as ~~a result of the adoption~~closed.

18On November 23, 2020, the Company was informed that the FTC had filed a notice of appeal in regard to the case. ~~SUBSEQUENT~~The ~~EVENTS~~appeal is from the District Court’s September 24, 2020, Order granting the Company’s Motion for Judgment on Partial Findings Pursuant to Fed. R. Civ. P. 52(c) and subsequent Judgment in favor of the Company and from the District Court’s February 14, 2020, striking Dr. David Yarbrough’s expert testimony made on behalf of the FTC. The FTC filed its appeal and on March 24, 2021, the Company filed its answer.

~~The~~On ~~Company~~July ~~has~~22, ~~evaluated~~2021, ~~subsequent~~the ~~events~~Registrant was informed that the U.S. Court of Appeals for the Third District affirmed the District Court’s ruling in ~~accordance~~favor of the Registrant. The ruling was in connection with ~~ASC~~the ~~Topic~~FTC ~~855, ”Subsequent~~complaint ~~Events”,~~filed ~~through~~against ~~October~~the 1Registrant in November 2016, ~~2024~~alleging, ~~which~~among isother matters, that the ~~date~~Registrant ~~financial~~did not ~~statements~~have ~~were~~substantiation ~~available to~~for beclaims ~~issued.~~made ~~The~~by ~~Company~~the ~~identified~~Registrant noregarding ~~material~~the ~~subsequent~~R-value ~~events~~and ~~that~~energy ~~require~~efficiency ~~recognition~~of orits INSULTEX house wrap ~~disclosure~~products.

In November 2021, in connection with the FTC litigation, the Company filed an application for attorney fees, expenses and cost in the U.S. District Court for the Western District of Pennsylvania, Case No.2:16-11cv-01669-NBF. On June 29, 2022, a settlement order was signed by the Court. Pursuant to the Order, the FTC paid the Company $260,000 to resolve all such claims. The parties agreed to waive all rights to appeal or otherwise challenge or contest the validity of the Order.

~~INNOVATIVE DESIGNS, INC.~~10

~~ITEM 2. MANAGEMENT’S~~NOTE ~~DISCUSSION~~15 ~~AND~~– ~~ANALYSIS~~ADOPTED ~~OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS~~PRONOUNCEMENT

~~General~~The requirements of the following FASB statement were adopted for the Company’s condensed financial statements:

~~The~~In ~~following~~June ~~information~~2016, ~~should~~the FASB issued beAccounting ~~read~~Standards Update in(“ASU”) ~~conjunction~~2016-13, ”Financial Instruments – Credit Losses (Topic 326): Measurement of Credit ~~with~~Losses on Financial Instruments” (“ASU 2016-13”). ASU 2016-13 introduces a new impairment model, the ~~financial~~current expected ~~statements~~credit loss (“CECL”) model. The model applies to most assets that are measured at amortized cost and requires those assets to be presented at the ~~notes~~net ~~thereto~~amount ~~and~~expected into ~~conjunction~~be ~~with~~collected. ~~Management’s~~In ~~Discussion~~addition, ~~and~~credit ~~Analysis~~losses ofon ~~Financial~~available-for-sale ~~Condition~~debt securities are ~~and~~to ~~Results~~be ofrecognized ~~Operations~~through inan ~~our~~allowance ~~Annual~~account. ~~Report~~ASU on2016-13 ~~Form~~also 10expands existing disclosure requirements. ASU 2016-K13 is effective for fiscal years beginning after December 15, 2022, and interim periods therein, and requires retrospective application. The Company adopted the ~~fiscal~~new ~~year~~standard ~~ended~~effective ~~October~~November 311, ~~2021~~2023, and there were no material changes to the condensed balance sheets, condensed statements of operations, condensed statements of changes in stockholders’ equity, and condensed statements of cash flows as a result of the adoption.

~~Forward-Looking~~NOTE ~~Statements~~16 – SUBSEQUENT EVENTS

~~This~~The ~~Quarterly~~Company ~~Report~~has onevaluated ~~Form~~subsequent ~~10-Q~~events includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including statements regarding future results of operation, made in ~~this Quarterly Report on Form 10-Q are forward-looking statements.~~accordance Wewith ~~use~~ASC ~~words~~Topic ~~such as expects~~855, ”Subsequent ~~believes~~Events”, ~~intends,~~through the ~~and~~date ~~similar~~financial ~~expressions to identify forward-looking~~ statements. ~~Forward~~were ~~looking-looking statements~~available reflect management’s current expectations and are inherently uncertain. Actual results could differ materially for a variety of reasons, including, among others, competition in our cold weather markets, our ability to ~~sell~~be ~~out HouseWrap product line, our inability to secure sufficient funding to maintain and/or expand our current level of operations and the seasonality of our cold weather product line~~issued. ~~These risks and uncertainties, as well as other risks and uncertainties that could cause our actual results to differ significantly~~ ~~from management’s expectations, are described in greater detail in our Annual Report on Form 10-K for the fiscal year ended October 31, 2021.~~ The Company ~~undertakes~~identified no ~~obligation~~material tosubsequent ~~publicly~~events ~~update~~that orrequire ~~revise~~recognition ~~any forward-looking statement, whether as a result of new information, future events~~ or ~~otherwise~~disclosure except asthe ~~required by law.~~following:

~~Background~~On October 3, 2024, the Board accepted the resignation of Joseph Riccelli, Sr. as the registrant’s Chief Executive Officer, Chief Financial Officer and Principal Accounting Officer, effective immediately. The Board also appointed Joseph A. Riccelli to serve as the registrant’s Chief Executive Officer, Chief Financial Officer and Principal Accounting Officer, effective immediately. In addition, on October 3, 2024, the Board of Directors determined that Joseph Riccelli, Sr. will continue to serve as Chairman of the Board of Directors. It is expected that the registrant will retain Joseph Riccelli, Sr. as a consultant to facilitate a smooth transition and for his vast knowledge of the production and products, and the relationships with the registrant’s most important vendors.

~~Innovative~~Also ~~Designs, Inc. (hereinafter referred to as the “Company”, “we” or “our”) was formed~~ on ~~June~~October 253, ~~2002. We market and sell clothing products~~ ~~such as outdoor apparel~~2024, ~~and~~the ~~cold~~Board ~~weather~~accepted gear called “Arctic Armor” that are made from IINSULTEX, a material with buoyancy, scent block and thermal resistant properties. We also market our House Wrap product line, which is a building material with thermal qualities. House Wrap is also made from IINSULTEX. We obtain IINSULTEX through a license agreement with the ~~owner~~resignation ~~and manufacturer~~ of ~~the~~Dean ~~material. Since~~Kolocouris, ~~our~~effective ~~formation we have devoted our efforts to:~~immediately.

● Completing the development, design and prototypes of our products, ● Obtaining retail stores or sales agents to offer and sell our products, ● Developing our website to sell more of our products.11

~~-12-~~ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

~~Results of Operations~~General

~~Comparison~~The offollowing information should be read in conjunction with the ~~Three-Month~~financial ~~Period~~statements ~~Ended~~and ~~April 30,~~the ~~2024,~~notes thereto and in conjunction with ~~the~~Management’s Discussion ~~Three~~and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-~~Month~~K ~~Period~~for ~~Ended~~the ~~April~~fiscal 30year ended October 31, ~~2023~~2021.

~~The following table shows a comparison of the results~~Forward-Looking ~~of operations between the three month periods ended April 30, 2024, and April 30, 2023:~~Statements

	Three Month						Three Month
	Period Ended						Period Ended
	30-April			%			30-April			%			Increase
	2024			of Sales			2023			of Sales			(Decrease)			% Change
REVENUE - NET	$	300,331.00					$	27,249.00					$	273,062.00			90.9	%
OPERATING EXPENSES
Cost of sales	$	151,560.00			50.5	%	$	13,349.00			49.0	%	$	138,211.00			91.2	%
Selling, general and administrative expenses	$	121,040.00			40.3	%	$	121,091.00			444.2	%	$	51.00			0.0	%
Total Operating Expenses	$	121,040.00					$	121,091.00
Income/Loss from operations	$	27,731.00			9.2	%	($	107,191.00	)		-393.4	%	$	134,922.00			486.5	%
Other income (expense)
Miscellaneous Income (expense)	$	0.00					$	0.00			100.0	%	$	0.00			100.0	%
Interest expense	($	4,338.00	)		-1.4	%	($	4,632.00	)		-17.0	%	$	294.00			-6.8	%
Depreciation	($	1,165.00	)				$	768.00			-2.8	%	($	397.00	)		34.1	%
Total other income (expense)	($	5,503.00	)		-1.8	%	($	5,400.00	)		-19.8	%	($	103.00	)		1.9	%
Net Income (Loss)	$	22,228.00			7.4	%	($	112,591.00	)		-413.2	%	$	134,819.00			606.5	%

This Quarterly Report on Form 10-Q includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including statements regarding future results of operation, made in this Quarterly Report on Form 10-Q are forward-looking statements. We use words such as expects, believes, intends, and similar expressions to identify forward-looking statements. Forward looking-looking statements reflect management’s current expectations and are inherently uncertain. Actual results could differ materially for a variety of reasons, including, among others, competition in our cold weather markets, our ability to sell out House Wrap product line, our inability to secure sufficient funding to maintain and/or expand our current level of operations and the seasonality of our cold weather product line. These risks and uncertainties, as well as other risks and uncertainties that could cause our actual results to differ significantly from management’s expectations, are described in greater detail in our Annual Report on Form 10-K for the fiscal year ended October 31, 2021. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise except as required by law.

Revenues for the three-month period ended April 30, 2024, were $300,331 compared to revenues of $27,249 for the three-month period ended April 30, 2023. The increase in revenue is attributable solely to an increase in sales of our Houswrap product line. During the period we had no sales of any apparel.Background

~~Our selling~~Innovative Designs, ~~general~~Inc. ~~and~~(hereinafter ~~administrative~~referred ~~expenses~~to (as the “~~SG&A~~Company”, “we” or “our”) ~~were~~ ~~$121~~was formed on June 25,~~040~~ ~~for~~2002. We ~~the~~market ~~three~~and ~~months~~sell ~~ended~~clothing ~~April~~products ~~30,~~such ~~2024~~as outdoor apparel, ~~compared~~and tocold ~~$121,091~~weather ~~for~~gear ~~the~~called ~~three-month~~“Arctic ~~period~~Armor” ~~ended~~that ~~April~~are 30made from IINSULTEX, ~~2023.~~a Inmaterial ~~February of~~with ~~2024~~buoyancy, wescent ~~hired~~block aand ~~son~~thermal ofresistant properties. We also market our ~~former~~House ~~CEO~~Wrap asproduct line, which is a ~~consultant~~building atmaterial awith ~~rate~~thermal ofqualities. ~~$1,000~~House ~~per~~Wrap ~~week~~is also made from IINSULTEX. OnWe ~~September~~obtain ~~30,~~IINSULTEX ~~2024,~~through ~~the~~a ~~consulting~~license ~~arrangement~~agreement with ~~was~~the ~~ended~~owner and manufacturer of the material. Since our formation we have devoted our efforts to:

~~-13-~~· Complete the development, design and prototypes of our products,

~~INNOVATIVE~~· ~~DESIGNS,~~Obtaining ~~INC.~~retail stores or sales agents to offer and sell our products’

~~Results~~· Developing our website to sell more of ~~Operations~~our products.

~~Comparison~~Results of ~~the~~Operations ~~Six-Month Period Ended April 30, 2024, with the Six -Month Period Ended April 30, 2023.~~

	Six Month					Six Month
	Period Ended					Period Ended
	30-April		%			30-April		%			Increase
	2024		of Sales			2023		of Sales			(Decrease)		% Change
REVENUE - NET	$	366,217.00				$	98,896.00				$	267,321.00		73.0	%
OPERATING EXPENSES
Cost of sales	$	186,384.00		50.9	%	$	30,359.00		30.7	%	$	156,025.00		83.7	%
Selling, general and administrative expenses	$	206,722.00		56.4	%	$	234,974.00		237.6	%	$	-28,252.00		-13.7	%
Total Operating Expenses	$	206,722.00				$	234,974.00
Loss from operations	$	-26,889.00		-7.3	%	$	-166,434.00		-168.3	%	$	139,548.00		-519.0	%
Other income (expense)
Miscellaneous Income (expense)	$	0.00				$	7,519.00		100.0	%	$	-7,519.00		100.0	%
Interest expense	$	-11,946.00		-3.3	%	$	-11,231.00		-11.4	%	$	-715.00		6.0	%
Depreciation	$	-2,329.00				$	-1,537.00		-1.6	%	$	-792.00		34.0	%
Total other income (expense)	$	-14,275.00				$	-5,249.00		-5.3	%	$	-9,026.00		63.2	%
Net Loss	$	-41,164.00		-11.2	%	$	171,686.00		-173.6	%	$	130,522.00		-317.1	%

Comparison of the Three-Month Period Ended July 31, 2024, with the Three-Month Period Ended July 31, 2023.

~~Revenues~~The ~~for~~following table ~~the~~shows ~~six-month~~a ~~period~~comparison ~~ended~~of ~~April~~the ~~30,~~results ~~2024, were $366,217 compared to revenues~~ of ~~$98,896~~operations ~~for~~between the ~~six-~~three month ~~period~~periods ended ~~April~~July 3031, 2024., ~~The~~and ~~increase~~July ~~in revenue is nearly all attributable to an increase in our House Wrap products’ revenue as we had approximately $7~~31,~~000~~ ~~in apparel sales during the period.~~2023:

~~As of September 27,2024, we have a backlog of approximately $247,00 in orders for our Housewrap product line.~~12

As of August 30, 2024, one of our Distributors has generated approximately $550,000 in sales.

	Three Month						Three Month
	Ended			%			Ended			%			Increase
	7/31/2024			of sales			7/31/2023			of sales			(Decrease)			% Change

REVENUE - NET		278,279						124,650						153,629			123.2	%

OPERATING EXPENSES
Cost of sales		189,978			68.3	%		76,480			61.4	%		85,416			148.4	%
Selling and G&A expenses		142,223			51.1	%		124,944			100.2	%		17,481			13.8	%
Total Operating Expenses		332,201			119.4	%		201,424			161.6	%		102,897			64.9	%
Income (loss) from operations		(53,922	)		-19.4	%		(76,774	)		-61.6	%		50,732			-29.8	%

Other income (expenses)
Miscellaneous income (expense)		—
Interest expense		(3,837	)		-1.4	%		(6,421	)		-5.2	%		2,584			-40.2	%
Depreciation		(1,324	)		-0.5	%		(769	)		-0.6	%		(555	)		72.2	%
Total other income (expense)		(5,161	)		-1.9	%		(7,190	)		-5.8	%		2,029			-28.2	%
Net income (loss)		(59,083	)		-21.2	%		(83,964	)		-67.4	%		52,761			-29.6	%

~~SG&A expenses were $206,722~~ Revenues for the ~~six~~ three-month period ended ~~April~~July 3031, 2024, were $278,279 compared to revenues of $~~234~~124,~~974~~650 for the ~~six~~ three-month period ended ~~April~~July 3031, 2023. The increase in revenue is attributable solely to an increase in sales of our House wrap product line.

InOur ~~the~~costs of ~~period~~sale, ~~starting~~selling, ~~May~~general 1,and ~~2024,~~administrative toexpenses ~~September~~(“SG&A”) 3,were ~~2024~~$332,201 ~~our~~for ~~sales~~the ~~have~~three ~~increased~~months ended July 31, 2024, ~~158%~~compared ~~over~~to $201,424 for the three-month period ~~beginning~~ended ~~November~~July 131, 2023. In February of 2024, we hired a son of our former CEO as a consultant to ~~April~~increase ~~30,~~the ~~2024~~sales.

Comparison of the Nine-14Month Period Ended July 31, 2024, with the Nine -Month Period Ended July 31, 2023.

INNOVATIVE DESIGNS, INC.

	Nine Month						Nine Month
	Ended			%			Ended			%			Increase
	7/31/2024			of sales			7/31/2023			of sales			(Decrease)			% Change

REVENUE - NET		644,497						223,546						420,951			188.3	%

OPERATING EXPENSES
Cost of sales		376,362			58.4	%		106,839			47.8	%		241,442			252.3	%
Selling and G&A expenses		348,946			54.1	%		359,917			161.0	%		(10,769	)		-3.0	%
Total Operating Expenses		725,308			112.5	%		466,756			208.8	%		230,673			55.4	%
Income (loss) from operations		(80,811	)		-12.5	%		(243,210	)		-108.8	%		190,278			-66.8	%

Other income (expenses)
Miscellaneous income (expense)		—			—			7,519			3.4	%		(7,519	)		-100.0	%
Interest expense		(15,783	)		-2.4	%		(17,652	)		-7.9	%		1,869			-10.6	%
Depreciation		(3,653	)		-0.6	%		(2,306	)		-1.0	%		(1,347	)		58.4	%
Total other income (expense)		(19,436	)		-3.0	%		(12,439	)		-5.6	%		522			-4.2	%
Net income (loss)		(100,247	)		-15.6	%		(255,649	)		-114.4	%		190,800			-63.7	%

~~Liquidity~~Revenues for ~~and~~the ~~Capital~~nine-month ~~Resources~~period ended July 31, 2024, were $644,497 compared to revenues of $223,546 for the nine-month period ended July 31, 2024. The increase in revenue is nearly all attributable to an increase in our House Wrap products’ revenue.

~~During the three-month period ended April 30, 2024, we funded our operations from revenues and the sale of our common stock.~~13

~~Short~~As ~~Term: We will continue to fund our operations from sales and the sale~~ of ~~our securities. We continue to pay our creditors when payments are due. We will require more funds to be able~~September to27,2024, ~~order~~we the material for our Insultex products and to purchase equipment needed for the manufacture of the Insultex product. The Company reached an agreement with the manufacturer of the Insultex material to purchase a machine capable of producing the Insultex material. Also included in the proposed agreement will be the propriety formula that creates Insultex. The Company took delivery of the equipment in December 2015. The Company will have to have the machine installed and ensure that it can be operated in compliance with all environmental rules and regulations. It is the Company intentions to have the equipment operational but cannot currently provide a ~~time~~backlog estimate. Among the factors affecting the time estimate are the financial resources available to the Company, finding a suitable facility and bringing technical personnel from abroad to install the equipment. The Company has currently made deposits of ~~$600,000~~approximately ~~on the equipment. The Company has incurred~~ $17247,~~000~~00 ofin ~~additional~~orders ~~expenses~~for ~~related~~our toHouse ~~shipping.~~wrap ~~The~~product ~~Company will produce Insultex under its own brand name~~line. ~~See Note 14 of the Notes to the Condensed Financial Statements.~~

~~The new quality control testing equipment for our House Wrap Product line has been built. We have reached an agreement with the vendor on the final amount.~~ As of August 30, 2024, weone ~~have paid approximately $134,000 in deposits for the equipment. We expect to accept delivery~~ of the equipment when we are able to reach an agreement with a testing laboratory that will house the equipment. Once the equipment is installed it will have to go through a certification process before we will be able to conduct tests on our ~~Insultex~~Distributors ~~products.~~has ~~Once~~generated ~~the~~approximately ~~testing equipment is certified~~$550,000 we intend to begin the process of having Insulted certified by ICC Evaluation Services, LLC (“ICC-ES”). ICC-ES certifies, among other items, building materials and products of which our House Wrap falls under. The reason we need to have ICC-ES certification is that we believe in ~~order to get large orders for House Wrap, ICC-ES certification will be required~~sales. ~~The other component part of the Housewrap produced by a third party is ICC-Es certified. Getting ICC-ES certification is costly and time consuming.~~

~~Long~~Cost ~~Term:~~of ~~The Company will continue to fund its operations~~sale ~~from revenues, borrowings from private parties~~ and ~~the~~SG&A ~~possible~~expenses ~~sale~~were of$725,308 ~~our~~for ~~securities. Should we not be able to rely on~~ the ~~private~~nine ~~sources for~~month ~~borrowing~~period ~~and~~ended ~~/or~~July ~~increased~~31, ~~sales~~2024, ~~our~~compared ~~operations would be severely affected as we would not be able~~ to ~~fund~~$466,756 ~~our purchase orders to our suppliers~~ for ~~finished~~the ~~goods~~nine ~~and~~month ~~our~~period ~~efforts~~ended July to31, ~~produce our own IINSULTEX would be delayed~~2023.

~~Subsequent~~Liquidity toand ~~the~~Capital ~~period, on September 26, 2024, we appointed a new CEO/CFO. Please see our Form 8-K filed on September 27, 2024.~~Resources

~~PART~~During IIthe three-month –period ~~OTHER~~ended ~~INFORMATION~~July 31, 2024, we funded our operations from revenues and the sale of our common stock.

~~ITEM~~Short Term: 1We will continue to fund our operations from sales and the sale of our securities. ~~LEGAL~~We ~~PROCEEDING~~continue to pay our creditors when payments are due. We will require more funds to be able to order the material for our Insultex products and to purchase equipment needed for the manufacture of the Insultex product. The Company reached an agreement with the manufacturer of the Insultex material to purchase a machine capable of producing the Insultex material. Also included in the proposed agreement will be the propriety formula that creates Insultex. The Company took delivery of the equipment in December 2015. The Company will have to have the machine installed and ensure that it can be operated in compliance with all environmental rules and regulations. It is the Company intentions to have the equipment operational but cannot currently provide a time estimate. Among the factors affecting the time estimate are the financial resources available to the Company, finding a suitable facility and bringing technical personnel from abroad to install the equipment. The Company has currently made deposits of $652,944 on the equipment. The Company will produce Insultex under its own brand name. See Note 13 of the Notes to the Condensed Financial Statements.

~~See~~The ~~Note~~new 16quality control testing equipment for our House Wrap Product line has been built. We have reached an agreement with the vendor on the final amount. As of July 31, 2024, we have paid approximately $134,000 in deposits for the ~~Notes~~equipment. We expect to accept delivery of the equipment ~~Condensed~~when ~~Financial~~we ~~Statements~~are ~~appearing~~able ~~elsewhere~~to reach an agreement with a testing laboratory that will house the equipment. Once the equipment is installed it will have to go through a certification process before we will be able to conduct tests on our Insultex products. Once the testing equipment is certified, we intend to begin the process of having Insulted certified by ICC Evaluation Services, LLC (“ICC-ES”). ICC-ES certifies, among other items, building materials and products of which our House Wrap falls under. The reason we need to have ICC-ES certification is that we believe in ~~this~~order ~~Report~~to get large orders for House Wrap, ICC-ES certification will be required. The other component part of the House wrap produced by a third party is ICC-Es certified. Getting ICC-ES certification is costly and time consuming.

~~ITEM~~Long 1ATerm: The ~~Risk~~Company ~~Factors~~will continue to fund its operations from revenues, borrowings from private parties and the possible sale of our securities. Should we not be able to rely on the private sources for borrowing and /or increased sales, our operations would be severely affected as we would not be able to fund our purchase orders to our suppliers for finished goods and our efforts to produce our own IINSULTEX would be delayed.

~~See~~Subsequent to ~~Risk~~the ~~factors~~period, ~~set~~on ~~forth~~September ~~in Part~~26, I2024, ~~Item~~we 1Aappointed ofa ~~the~~new ~~Company’s~~CEO/CFO. ~~Annual~~Please ~~report~~see onour Form 108-K ~~for~~filed ~~the~~on ~~fiscal~~September ~~year ended October 31~~27, ~~2023~~2024.~~Set forth below are additional risk factors.~~

~~Sole~~ Off-Balance ~~Source for~~Sheet Insultex. We rely on a single source for the Insultex material. We do not believe we could obtain Insultex from any other source. Insultex is manufactured by a company in Indonesia using proprietary technology Should we not be able to obtain Insultex from this company for any reason we could no longer maintain operations. Arrangements

~~Reliance~~We do not have any off-balance sheet arrangements onthat ~~Key~~have ~~Personal.~~or ~~Mr.~~are ~~Gregory~~reasonably ~~Domian~~likely isto have a current or future effect on our ~~Executive~~financial ~~Vice-President~~condition, ~~Operations.~~changes ~~Should~~in wefinancial ~~lose~~condition, ~~the~~revenues or ~~services~~expenses, results of ~~Mr.~~operations, ~~Domian our~~liquidity, ~~operations~~capital ~~would~~expenditures beor ~~materially~~capital ~~affected~~resources that are material to investors.

~~ITEM~~Critical 1BAccounting ~~Climate-Related~~Policies ~~Disclosure.~~and Estimates

~~N/A~~Revenue Recognition: We recognize revenue from product sales when all of the following criteria for revenue recognition have been met: pervasive evidence that an agreement exists; the services have been rendered; the fee is fixed and determinable and not subject to refund or adjustment; and collection of the amount due is reasonable assured.

~~-15-~~14

~~INNOVATIVE~~PART ~~DESIGNS,~~II ~~INC.~~– OTHER INFORMATION

ITEM 2 1. ~~UNREGISTERED~~LEGAL ~~SALES OF EQUITY SECURITIES AND USE OF PROCEEDS~~PROCEEDING

~~ITEM 3.~~ See ~~Defaults~~Note ~~upon~~16 ~~Senior~~of ~~Securities~~the Notes to the Condensed Financial Statements appearing elsewhere in this Report.

~~None~~ITEM 1A Risk Factors

See Risk factors set forth in Part I Item 41A ~~Mine~~of ~~Safety~~the ~~Disclosures~~Company’s Annual report on Form 10-K for the fiscal year ended October 31, 2023.Set forth below are additional risk factors.

~~Not~~Sole ~~applicable~~Source for Insultex. We rely on a single source for the Insultex material. We do not believe we could obtain Insultex from any other source. Insultex is manufactured by a company in Indonesia using proprietary technology Should we not be able to obtain Insultex from this company for any reason we could no longer maintain operations.

~~ITEM~~Reliance on Key Personnel. Mr. Gregory Domian is our Executive 4TVice-President, Sales and Marketing. ~~CONTROLS~~Should ~~AND~~we ~~PROCEDURES~~lose the services of Mr. Domian our operations would be materially affected.

~~Management~~ITEM ~~has~~1B ~~developed~~Climate-Related ~~and implemented a policy and procedures for reviewing, on a quarterly basis, our disclosure controls and procedures~~Disclosure. During the period ended April 30, 2024,, our principal executive/financial officer concluded that these controls and procedures were ineffective. At this time, we do not have the financial resources to employ a financial staff with accounting and financial expertise. Once we have the necessary financial resources, we plan to hire and designate an individual responsible for identifying reportable developments and to implement procedures designed to remediate the material weakness by focusing additional attention and resources in our internal accounting functions.

~~Changes in Internal Control Over Financial Reporting~~N/A

~~During~~TEM ~~the~~2. ~~most~~UNREGISTERED ~~recent~~SALES ~~fiscal~~OF ~~quarter,~~EQUITY ~~there~~SECURITIES ~~were no~~AND ~~changes~~USE inOF the Company’s internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13(a)-15 or 15d-15 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.PROCEEDS

Until the Company has the financial resources to employ a financial staff with accounting and financial expertise, to be able to properly account for internal financial reporting, errors that may have a material effect on the financial statements have the potential to occur.N/A

ITEM 53. ~~Other~~Defaults ~~Information~~upon Senior Securities

During the quarter ended April 30, 2024, no director or officer of the Company adopted or terminated a “rule 10b5-1 trading arrangement” or “non-Rule 10b-5 trading arrangement” as such terms are defined in Item 408(a) of Regulation S-K.None

~~-16-~~Item 4 Mine Safety Disclosures

~~INNOVATIVE~~Not ~~DESIGNS, INC.~~applicable

ITEM 6 4T. ~~EXHIBITS~~CONTROLS AND PROCEDURES

*3.1	Revised Certificate of Incorporation
**3.2	By-Laws
31.1	Rule 13a - 14a Certification of Chief Executive Officer
31.2	Rule 13a-14a Certification of Chief Financial Officer and Principal Accounting Officer
32.1	Section 1350 Certification of Chief Executive Officer and Chief Financial Officer
32.2	Section 1350 Certification of Chief Financial Officer and Chief Accounting Officer
*	Incorporated by reference to the Company’s Form 10-K filed February 12, 2015
**	Incorporated by reference to the Company’s registration statement on Form SB-2, filed March 11, 2003
99***	Incorporated by reference to the Company’s Current Report on Form 8-k, filed November 4, 2016

Management has developed and implemented a policy and procedures for reviewing, on a quarterly basis, our disclosure controls and procedures. During the period ended April 30, 2024,, our principal executive/financial officer concluded that these controls and procedures were ineffective. At this time, we do not have the financial resources to employ a financial staff with accounting and financial expertise. Once we have the necessary financial resources, we plan to hire and designate an individual responsible for identifying reportable developments and to implement procedures designed to remediate the material weakness by focusing additional attention and resources in our internal accounting functions.

~~-17-~~Changes in Internal Control Over Financial Reporting

~~SIGNATURES~~During the most recent fiscal quarter, there were no changes in the Company’s internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13(a)-15 or 15d-15 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

~~Pursuant~~Until to the ~~requirements~~Company ofhas the ~~Securities~~financial ~~Exchange Act~~resources ofto ~~1934,~~employ ~~the~~a ~~registrant~~financial ~~has~~staff with ~~duly~~accounting ~~caused~~and ~~this~~financial ~~report~~expertise, to be ~~signed~~able onto ~~its~~properly ~~behalf~~account byfor ~~the~~internal ~~undersigned~~financial reporting, ~~thereunto~~errors ~~duly~~that ~~authorized~~may have a material effect on the financial statements have the potential to occur.

		Innovative Designs, Inc.
		Registrant
Date: October 1, 2024	by:	/s/ John Thomas
		John Thomas, Chief Executive Officer
		and Chief Financial Officer

~~-18-~~ITEM 5. Other Information

During the quarter ended July 31, 2024, no director or officer of the Company adopted or terminated a “rule 10b5-1 trading arrangement” or “non-Rule 10b-5 trading arrangement” as such terms are defined in Item 408(a) of Regulation S-K.

ITEM 6. EXHIBITS

*3.1	Revised Certificate of Incorporation

**3.2	By-Laws

31.1	Rule 13a - 14a Certification of Chief Executive Officer

31.2	Rule 13a-14a Certification of Chief Financial Officer and Principal Accounting Officer

32.1	Section 1350 Certification of Chief Executive Officer and Chief Financial Officer

32.2	Section 1350 Certification of Chief Financial Officer and Chief Accounting Officer

*	Incorporated by reference to the Company’s Form 10-K filed February 12, 2015

**	Incorporated by reference to the Company’s registration statement on Form SB-2, filed March 11, 2003

99***	Incorporated by reference to the Company’s Current Report on Form 8-k, filed November 4, 2016

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: December 20, 2024

	Joseph A. Riccelli
	Chief Executive Officer
	Chief Financial Officer

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